Guaranteed Rate Companies Acquires Attorneys’ Title Guaranty Fund Inc.
Apr 08, 2022 10:08 am ET
Legal Newswire POWERED BY LAW.COM
Guaranteed Rate Companies, a leading provider of mortgage lending and digital financial services, today announces the completion of its acquisition of Attorneys’ Title Guaranty Fund Inc. (ATG), a Chicago-based title insurance underwriter.
“Adding the ATG team to the Guaranteed Rate team is an absolute win-win, allowing us to continue to help consumers through the home selling and buying process,” said the President and CEO of Guaranteed Rate Victor Ciardelli.
Ciardelli added, “I have always valued and appreciated the importance of the attorney’s role in real estate transactions. That’s why Guaranteed Rate is committed to the legal business model created by ATG. We look forward to building on ATG’s success by providing attorneys and consumers with the technology, tools and additional support that will enable ATG to thrive in the years to come.”
From the acquisition, ATG President and CEO Peter Birbaum said: “This is a very exciting opportunity for our law firm, team members and clients. With the support of Guaranteed Rate, ATG will continue to be the most passionate and effective advocate for conveyance attorneys. We look forward to being part of such an innovative, technically advanced organization that is committed to preserving the attorney-centric service model that has defined ATG’s success over the years.”
Birnbaum and his team have worked for decades to continue the legacy of the organization’s founders: to preserve the attorney’s role in real estate transactions for the benefit of the consumer. “Together, ATG and Guaranteed Rate can continue our mission well into the future by demonstrating to the public that attorneys play an essential role in protecting consumers in the largest financial transaction of their lives,” Birnbaum said.
In the last ten years, Guaranteed Rate Companies has experienced explosive and record growth $116 billion of all lending volume in 2021 alone. This acquisition will enable an even more seamless experience for consumers in new markets, expand the attorney-centric model, and support Guaranteed Rate’s continued expansion into a broader range of financial services.
About companies with guaranteed prices
Guaranteed Rate Companies is a leading provider of mortgage lending and digital financial services. headquarters in Chicagothe Guaranteed Rate Companies have more than 10,000 employees in over 850 offices across the US serving all 50 states and Washington, D.C Since its inception in 2000, Guaranteed Rate Companies has helped more than 1 million homeowners with home purchase loans and refinances with total loan outstandings in excess of $116 billion in 2021 alone. The company has established itself as an industry leader by introducing innovative technologies, offering low prices and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by US News & World Report; Best Mortgage Originator for Online Loans and Best Mortgage Originator for Refinance by NerdWallet for 2021; HousingWire’s 2020 Tech100 Award for the company’s industry-leading FlashClose℠ technology; Ranked 3rd in the 2021 Scotsman Guide list of top retail mortgage lenders; Chicago Agent Magazine’s Lender of the Year for six consecutive years; and on the Chicago Tribune’s Top Workplaces list for seven consecutive years. Visit rate.com for more information.
About Attorneys’ Title Guarantee Fund Inc.
Through its thousands of member attorneys, ATG has served more than three million home closures since 1964, providing homebuyers with competitively priced property insurance. ATG has built a significant customer base by providing excellent service at competitive prices. Independent rating agency Demotech, Inc. has awarded it a Financial Stability Rating® (FSR) of A′ (A Prime), best-in-class. ATG was named to Crain’s Chicago Business list.Chicago’s Largest Privately Held Company,” for five consecutive years, inclusive January 2022. In addition, ATG has a Claims-Paying Ability Rating of A- from the Kroll Bond Rating Agency, Financial Institutions: Title Insurance Rating Report. For more information, see atgf.com/aboutATG/about-us. In addition to property insurance, ATG offers other legal and housing services through its subsidiaries. For more information, see atgf.com/aboutATG/atg-subsidiaries.
Piper Sandler & Co. and Conlon and Company acted as financial advisors to ATG; David T. Brown and Peter A Shepard of Much Law PC, ATG served as legal counsel.
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