Rate Guaranteed plans to set up a new mortgage joint venture with Compass, an independent real estate brokerage and technology company.
The firms announced on Tuesday that they had finalized an agreement to create a new mortgage company, OriginPoint. The new venture will be available to all consumers in all markets where Compass operates and is licensed regardless of the brokerage they choose to work with.
“Partnering with Compass and Robert Reffkin to quickly build a best-in-class, technology-driven mortgage company is truly exciting,” said Guaranteed Rate founder and CEO Victor Ciardelli. “With soaring interest rates, limited housing supply and declining refinancing, now is the perfect time to hire the best of the best loan officers and sales executives across the country.”