About
Important information
- Additional Info:Guaranteed Rate, Inc. has respectfully requested that before filing a BBB complaint, you allow them an opportunity to resolve the issue independent of the BBB. Please contact Guaranteed Rate's Customer Care at 773-328-6467 or CustomerCare@GuaranteedRate.com and a senior manager will assist you with your issue.
For issues received during normal business hours, assistance will be within 2 hours. For non-business hours, assistance will come within 1 business day. Normal Business Hours: M-F 8:30a - 5:30p CST. - Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:Guaranteed Rate to Pay $15 Million to Resolve Allegations It Knowingly Caused False Claims to Government Mortgage Loan Programs
On Wednesday, April 29,2020 the business came to a payment agreement with the United States Department of Justice. The payout settles allegations that the business knowingly caused false claims to government mortgage loan programs. Under terms of the resolution, the business agreed to pay 15.06 million to resolve allegations as well as admit that it failed to adhere to the applicable self-reporting requirements, that its FHA underwriters received commissions and gifts in violation of program rules, and that there were instances in which its government underwriters were instructed not to review documents that were relevant to the underwriting decision. Guaranteed Rate further acknowledged that it certified and the government insured and guaranteed loans approved by Guaranteed Rate that were not eligible for FHA mortgage insurance or VA loan guarantees and that HUD and VA would not have insured or guaranteed the loans but for its actions. For more details go to Government Action Press Release .
Overview
BBB Accredited Since: 11/1/2009
Years in Business: 25
BBB Accreditation & Rating
About This Business
Guaranteed Rate is a Chicago mortgage banker which allows prospective homeowners to apply for and get approved for a home mortgage online, in addition to providing mortgage calculators, credit scores, and other financial information for consumers to use. The company allows for individuals to apply for a mortgage through their loan application, which allows them to customize the rates and conditions of their loan to fit their specific needs. They then gain access to a free credit score report from the three credit bureaus to assist them in seeking their loan and determining how much of a mortgage they can afford. Using the company's automated underwriting service, individuals who qualify for a mortgage can receive their acceptance letter to purchase a home without waiting for a bank and third party. Guaranteed Rate NMLS ID 2611. For more information go to www.NMLSconsumeraccess.org
Products and Services
Business Details
- Local BBB:
- BBB of Chicago & Northern Illinois
- BBB File Opened:
- 8/19/2002
- Business Started:
- 10/1/1999
- Business Started Locally:
- 10/1/1999
- Business Incorporated:
- 2/10/2000
- Type of Entity:
- Corporation
- Alternate Names:
- Rate.com
- Business Management:
- Mr. Victor Ciardelli, Chairperson
Additional Contact Information
- Customer Contacts
- Mr. Luis Trinidad, Customer Care Supervisor
- Additional Email Addresses
- Technical Support: Email this Business
- Additional Websites
- Website 1
Licensing information
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
Additional Information
- Business Categories
- Mortgage Banker, Loans, Mortgage Lenders, Homeowners Insurance, Auto Insurance, Life Insurance, Financing, Property Insurance, Loan Originator
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