Dozens of loan originators recently displaced by the closing of Discover Home Loans Inc. have been hired by Guaranteed Rate Mortgage.
Chicago-based Discover Home Loans disclosed in June that a decision was made to end mortgage operations as of last month.
The move impacted around 460 Discover mortgage employees who were primarily located in Irvine, California, and Louisville, Kentucky.
However,
AmeriSave Mortgage Corp. announced that it intended to offer jobs to 125 of the impacted Discover employees.
On Friday, Guaranteed Rate — which is also based in Chicago — announced that it
recruited 75 Discover loan officers.
“The new loan officers will join Guaranteed Rate’s existing team of experts in servicing the large volume of customers now using Guaranteed Rate’s brand new Digital Mortgage,” the statement said. “Guaranteed Rate launched the world’s first Digital Mortgage in June and more than 4,400 people have already locked more than $1.4 billion in loans via the new technology.”
Guaranteed Rate previously reported a national staff of 2,569 employees as of June 30.
Guaranteed Rate, which previously reported $12.4 billion in mortgage originations for 2014, said it had already funded nearly $13 billion in home loans through the end of August 2015.
The lender claims to be “the eighth largest retail mortgage lender in the nation.”
It ranked 14th overall in Mortgage Daily’s First Quarter 2015 Mortgage Origination Survey with $4.2 billion in production.
Today’s announcement additionally indicated that Guaranteed Rate
has added new call centers. Branch count stands at around 175 offices.
