CHICAGO, IL--(Marketwired - March 01, 2017) - Guaranteed Rate, one of the largest independent retail mortgage lenders in the nation, is expanding its office space by 22,000 square feet and will create approximately 280 new positions in Chicago this year for its Liftoff loan origination training program. The Liftoff program requires no previous mortgage industry experience and offers an instructional sales itinerary including industry guest lecturers and all certification exams required for loan originators. Liftoff graduates will originate loans for the Online Division from leads generated via the company's digital marketing and advertising channels.
"Our company has grown by more than 25 percent over the last year and as a result we've created hundreds of job opportunities in Chicago and across the country," says Guaranteed Rate Founder and CEO Victor Ciardelli. "The Liftoff program is an awesome opportunity to get into the industry and offers all of the tools to be successful in the field."
The Liftoff positions are only a portion of Guaranteed Rate's expected job growth this year. The company hired about 90 people in the first 90 days of 2017 alone. Over the last decade, Guaranteed Rate has more than quadrupled its employee count, going from 680 employees in 2006 to more than 3,000 by the end of 2016. Its revenue has grown from about $43 million in 2006 to nearly $778 million in 2016. In terms of loans funded, the company funded $3 billion in 2006 compared to almost $23 billion in 2016. In the last five years, Guaranteed Rate's workforce has doubled, its revenue rose more than 400 percent, and the dollar amount in loans funded more than tripled.
"Guaranteed Rate is a hometown success story and I'm proud to see the company thriving here in Chicago where it was founded," says Chicago Mayor Rahm Emanuel. "Chicago, with its world-class talent and technology, is a great place to do business and Guaranteed Rate's tremendous growth is an excellent example of that."
Of the expanded space, 15,000 square feet is at 1806 West Cuyler Avenue, where the Liftoff program is based. The location is a block north of the company's Ravenswood headquarters, with easy access to the company's on-site chef, nurse practitioner, fitness facility and masseuse as well as a huge rooftop deck. The additional 7,000 square feet is at 320 West Ohio Street in the River North neighborhood. The company already had a presence at both addresses and leased more space to accommodate its growing workforce.
"Guaranteed Rate continues to grow, create jobs and give back to the communities it serves," says Illinois Department of Commerce & Economic Opportunity Director Sean McCarthy. "The creation of nearly 300 full-time, skilled positions with high income potential and full benefits this year is exciting news for Chicago's workforce."