Guaranteed Rate Expands Community Engagement Initiative

Guaranteed Rate has announced the next wave of expansion of its Community Engagement Initiative, designed to significantly improve funded volume in underserved communities nationwide. May 2024 marks the formal launch of phase two of this initiative, as the company has recorded rapid progress in its community work with diverse segments.

The initiative’s first phase focused on internal infrastructure projects, including reporting enhancements to track loan performance, processing and underwriting training, additional loan products, and establishing strategic partnerships to expand the Guaranteed Rate brand in underserved markets, the company stated. In addition, this phase included projects such as the Language Access Program and the First Black Leadership Symposium.

The company stated that the second phase builds on the success of these initial efforts with the launch of RateUniversity, a community outreach effort in English and Spanish that promotes financial education and culture in large metros. It also introduces the company’s Go to Market plan, multi-media brand awareness campaigns and ongoing recruitment from low and moderate-income markets. These combined efforts are complemented by strengthened community partnerships and enhanced financial education resources in English and Spanish.

“Our commitment to serving diverse markets is unwavering. As we get into phase two and build on all that we achieved in our first year, we aim not only to continue what we started but to elevate our efforts, ensuring that more families have the opportunity to own homes and prosper,” said Victor Ciardelli, CEO of Guaranteed Rate. “The work we are doing stands apart in the industry, as we ensure that these communities have the access, tools, support, and warm welcome they deserve.”

Since the initiative’s inception in 2023, Guaranteed Rate stated they have demonstrated substantial progress in increasing diversity within its national workforce and among its clientele. From 2019 to the current year, the diversity in its sales force has grown from 16% to 23%, with a net headcount increase from 176 to 379. Additionally, the percentage of funded loans from diverse consumers has risen from 12% to 29.6% of total funded loans across the company, illustrating a robust growth in engagement and support for diverse communities.

“We have made significant strides in opening up home lending and ownership for underserved communities, but our work is far from finished,” said Camilo Escalante, executive director of Diverse Segments at Guaranteed Rate. “Traditional lending practices have overlooked Black and Latino communities, as well as low to moderate-income areas. Our program blazes new trails with dedicated focus, specific budgets, and targeted partnerships in these communities. As we move into the next phase, we will continue to expand our educational resources and prioritize diverse employee retention, which is crucial for building community ties and strengthening our leadership in serving LMI and underserved markets.”

“We are encouraged to see that Latinos already comprise 51% of First-Time Homebuyers, and we believe that can go as high as 70% over the next two decades, as predicted by the Urban Institute,” added Escalante. “We will always lean in to support growth in other underserved communities. This is not a one-and-done community approach.”

For more information about Guaranteed Rate’s Community Engagement Initiative and work with diverse segments, visit

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