Guaranteed Rate and @properties Enter into Mortgage Origination Joint Venture Agreement

Guaranteed Rate, Inc. and @properties, one of the nation's largest residential brokerage firms, today announced that they have formed a new joint venture, Proper Rate, LLC.

The new company, which plans to launch early in 2020, aims to deliver a high-end, customer-focused retail mortgage lending experience. The combined strength of leadership and technology from two of the industry's top companies will drive growth in select markets around the country.

"This is a unique opportunity for us to accelerate growth by working together with one of our most trusted and best-in-class business partners," said Guaranteed Rate Founder and Chief Executive Officer Victor Ciardelli. "Thad [Wong] and Mike [Golden] have built an incredible business over the last two decades and we are thrilled to form this joint venture with them. @properties has a proven track record of creative innovation, seamless operations and strong brand loyalty. We are very much looking forward to introducing Proper Rate to homebuyers in select markets across the U.S."

"We have a vision for an independent mortgage company built around relationships between borrowers, real estate agents, loan originators and other key stakeholders in the real estate transaction. In Victor and Guaranteed Rate, we found a partner that is eager to help us realize this vision while leveraging industry-leading technology, systems and support," said @properties Co-founder and Co-CEO Thad Wong.

@properties co-founder and co-CEO Mike Golden said Proper Rate will provide an opportunity to create more efficient transactions for borrowers. "Proper Rate will allow us to more seamlessly integrate the entire real estate transaction, from brokerage to mortgage financing to title and closing services, resulting in a better experience for the consumer and increased value for the real estate agent and loan originator managing the transaction," Golden said.

Proper Rate's loan origination platform will feature a complete digital mortgage, an easy-to-understand, transparent loan process with competitive pricing and unmatched expertise from top-producing loan officers. For more information, visit properrate.com.