Rate’s Shant Banosian Hits $1 Billion Milestone in Record Time
June 23, 2021 (BOSTON) – Rate, one of the top 5 retail mortgage lenders in the country, is proud to announce that Boston’s Shant Banosian has funded $1 billion in loan volume for the second consecutive year—at record speed.
“What Shant’s doing is incredible. Funding this much volume in less than six months shows his amazing dedication and true commitment to everyone around him,” said Rate’s President and Chief Executive Officer Victor Ciardelli. “Given how big he dreams and how well he and his team leverage our innovative system, it’s not surprising he crossed the billion-dollar mark three months faster than he did last year.”
Banosian made headlines in 2020 when he funded a total of $1.7 billion, finishing the year as the nation’s #1 loan originator for purchase volume according to Scotsman Guide, closing more than 1,400 purchase loans and 3,551 loans in total.
With more than a decade of mortgage industry experience, 40-year-old Banosian has earned an impressive total career volume of over $5 billion in funded loans, ranking as one of the top 5 loan originators in the U.S. by Scotsman Guide for six years running, including two consecutive years at #1. He has been Rate’s top loan officer and the top producer in Massachusetts consistently since 2013.
“My team and our partners are on track to serve more borrowers this year than ever before,” said Banosian. “Reaching this goal yet again, and at record speed, would not have been possible without the hard work and dedication of my team. In this fast-paced market, Rate’s leadership and technology continuously sets us up for success.”
A Massachusetts native, Banosian graduated from Bentley University, where he met his wife, Kara. They currently live in Belmont, Mass., with their three daughters. Banosian credits his success to his amazing team, adding that, “Surrounding yourself with the right people and working together to accomplish big goals is a lot of fun.”
Along with his family and team, Banosian actively participates in numerous charitable events throughout his community, consistently fundraising for the Greater Boston Food Bank and running one of the top 5 fundraising teams in the country for St. Jude Children’s Research Hospital. Banosian is also actively involved in the Rate Foundation, a 501(c) 3 organization that has granted more than $5 million directly to individuals and families in need.
About Rate Companies
The Rate Companies includes Rate, Inc., one of the top 5 retail mortgage lenders in the United States, Guaranteed Rate Affinity, LLC, and Proper Rate, LLC. Headquartered in Chicago, Rate Companies combined funded over $73 billion in 2020 and have more than 10,000 employees in over 850 offices across the United States. Founded in 2000 and located in all 50 states and Washington, D.C., Rate has helped homeowners nationwide with home purchase loans and refinances. The company has established itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. In 2017, the company launched Guaranteed Rate Affinity, LLC, a mortgage origination joint venture between Rate, Inc. and Realogy Holdings Corp. (NYSE: RLGY), a global leader in residential real estate franchising and brokerage. In 2020, the company launched Proper Rate, LLC, a mortgage origination joint venture between Rate, Inc. and @properties, one of the nation's largest residential brokerage firms. Collectively, the Rate Companies have earned numerous honors and awards including: Forbes Advisor’s Top 10 Mortgage Lenders for 2021; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; 2018 Top Lender for Online Service by U.S. News & World Report; HousingWire’s 2020 Tech100 award for the company’s industry-leading FlashCloseSM technology; No. 3 ranking in Scotsman Guide's 2021 list of Top Retail Mortgage Lenders; Chicago Agent Magazine’s Lender of the Year for five consecutive years; and Chicago Tribune's Top Workplaces list for seven consecutive years. Visit rate.com for more information.