Victor Ciardelli

President & CEO

Victor Ciardelli is the President and CEO of Rate. He’s known as an innovative and driven entrepreneur, and an inspirational and approachable leader who loves new thinking and creative ideas. He’s a passionate father of four, a great friend to people from all walks of life, and a believer in the law of attraction, positivity and healthy living.

Victor founded Rate, now the second largest retail mortgage lender in the United States, in June of 2000 with the mission of delivering more value to customers than any other bank or mortgage company. The company was built on the principles of low rates, groundbreaking technology, complete transparency, excellent customer service and a quick, easy mortgage experience.

Victor knew that to achieve his mission of being the best mortgage company for customers, he also needed to be the best mortgage company for employees and referral partners. He achieved that by innovating superior systems and technology to make the mortgage process easier and more transparent for everyone, and by creating a culture of positivity in which people have the opportunities to improve their lives and achieve their dreams. For Victor, that work never stops.

Victor’s mission has led Rate through an impressive journey of growth. Within its first three years, the company became Chicago’s largest independent mortgage lender. The next twenty years have seen significant growth, and in 2023 funded over $35 billion across all Rate Companies.

Victor has also led Rate through an impressive journey of innovation. In July 2015 he oversaw the launch of the world’s first digital mortgage that brought the mortgage process, and industry, into the 21st century with online applications that can be completed in as little as 15 minutes! In 2019, Rate launched another digital innovation with FlashClose™, which vastly simplified the traditional closing process, saving customers and real estate agents time at the closing table by allowing most paperwork to be reviewed and signed ahead of closing.

In 2023, Rate Companies continued with a legacy of innovation announcing the launch of Same Day Mortgage™, a cutting-edge technology able to deliver a loan approval in less than 24 hours. To date, over $4 billion has been funded through Same Day Mortgage™. Rate then introduced PowerVP™, a mobile app designed to empower Loan Officers with robust tools that allows their customers to beat their homebuying competition with speed and ease. The same year, the company also launched the Rate App™, created to take a holistic approach to reducing stress by offering a comprehensive suite of financial services and personal well-being tools.

Over the past five years, Rate has also built strong partnerships with industry peers to expand on capabilities and consumer offerings. In 2017, Rate entered into a joint venture with Anywhere Real Estate Inc., the largest Real Estate brokerage in the U.S., with brands like Coldwell Banker and Sotheby’s International Realty. Together they formed Guaranteed Rate Affinity, LLC, which originates and markets mortgage lending services to Anywhere subsidiaries. In 2020 Rate and @properties formed a joint venture, Proper Rate, LLC, offering a customer-focused retail mortgage lending experience in select markets. In 2022, Rate and Compass formed the joint venture OriginPoint bringing together two digital-first companies to provide a seamless and transparent lending experience. Expanding on Rate’s family of companies, Victor also established Rate Insurance, LLC, and Advocus Title to provide clients with a complete home purchase experience fueled by modern technology and personalized service. And most recently, Victor announced a new AI technology company entitled Gateless LLC, which will once again move the entire industry forward by using AI to speed the mortgage documentation process while improving quality.

Victor also spearheaded a naming rights agreement between Rate and the Chicago White Sox in August 2016 to name their home stadium Rate Field, linking Rate to America’s favorite pastime.

Victor’s unprecedented impact on the mortgage industry has not gone unnoticed. He has earned recognition as the Ernst & Young Entrepreneur of the Year, has been named “CEO of the Year” by Mortgage Executive Magazine and the CityLights Awards, and has also been named to MPA Magazine’s “Hot 100” list of the most influential people in the mortgage industry every year since 2013.

The company he leads continues to receive accolades as well. Rate received HousingWire’s Tech100 award for the company's industry-leading FlashClose℠ in 2020, digital mortgage platform MyAccount in 2022, and Language Access Program in 2023. Rate has been included in the Chicago Tribune’s “Top Workplaces” for seven consecutive years and has also been featured in Crain’s as one of the largest and fastest-growing privately held companies in Chicago. The company has also held the most Scotsman Guide Top Originators for 11 consecutive years and has been named Chicago Agent Magazine's Lender of the Year for seven consecutive years.

Victor cares about growing the people of Rate as much as he cares about growing the business, viewing the two as inseparable. Almost all of the company’s top management are long term employees, many of whom started in regional roles or as loan officers. That’s a reflection of Victor’s belief in the importance of company culture and vibe. Creating an environment where people want to do and be their best, and where they see a path for themselves to rise, is crucial to their loyalty and success.

This is reflected in Victor’s innumerable, deep personal relationships with people from all walks of life. He cherishes these relationships that all find a way to give him perspective and wisdom. As a diversity champion, Victor has encouraged the development of numerous company organizations like GROW (Rate Organization of Women), PROUD (supporting LGBTQ employees) and most recently LEAD (Leadership for Equality and Development) promoting a greater role for people of color within the mortgage industry.

Victor views his professional success as a means of doing good and making a lasting impact on the lives of others. The first line of Rate’s Mission Statement is “Our mission is to be the #1 retail mortgage lender in the country with the commitment that the more we grow, the more good we will do for our GR family, our customers and the communities we serve.” And the very first company Core Value is “We grow for good.”

To that end, Victor founded the Rate Foundation in 2012 as a way to provide support to individuals and families experiencing crisis. From family tragedies to children with special needs to women overcoming domestic violence, the Foundation has assisted more than 2,000 individuals across the country, and as of 2023 has distributed nearly $8 million in aid. Rate covers 100% of all expenses, meaning every penny donated to the Foundation goes directly to people in need.

On a personal level, and way more important than being founder and CEO of Rate, Victor is a passionate family man whose greatest accomplishment is being a dad to his four kids, Victor, Tristan, Chloe and Ava. They will always be his greatest achievement and deepest joy.