Purchase of title insurance underwriter will create more seamless end-to-end residential transactions
CHICAGO, April 4, 2022 /PRNewswire/ — Guaranteed Rate Companies, a leader in mortgage lending and digital financial services, announces today that it has closed on its acquisition of Attorneys’ Title Guaranty Fund Inc. (ATG), a Chicago-based title insurance underwriter.
“Adding ATG’s team to the Guaranteed Rate team is a total win-win situation, allowing us to further serve consumers in real estate sales and the purchase process,” said Guaranteed Rate President and CEO Victor Ciardelli.
Ciardelli added, “I have always appreciated and valued the importance of the lawyer’s role in real estate transactions. That is why Guaranteed Rate is committed to the lawyer-agent business model created by ATG. We look forward to building on ATG’s success by giving lawyers and consumers the technology, tools and additional support that will enable ATG to flourish in the years to come.”
Of the acquisition, ATG President and CEO Peter Birnbaum said, “This is a very exciting opportunity for our law firms, team members and customers. With the support of Guaranteed Rate, ATG will continue to be the single most ardent and effective advocate for lawyers in the conveyancing process. We are excited to be part of such an innovative, tech-forward company that is dedicated to preserving the lawyer-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: Preserving the lawyer’s role in real estate transactions for the benefit of the consumer. “Together, ATG and Guaranteed Rate can continue our mission, long into the future, by demonstrating to the public that lawyers play an essential role in protecting consumers in the largest financial transaction of their lives,” Birnbaum said.
During the last ten years, Guaranteed Rate Companies has experienced explosive growth, with a record $116 billion in total loan volume in 2021 alone. This acquisition will enable an even more seamless experience for consumers in new markets, expand the lawyer-centric model and bolster Guaranteed Rate’s continued expansion into a broader range of financial services.
About Guaranteed Rate Companies
Guaranteed Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, the Guaranteed Rate Companies has more than 10,000 employees in over 850 branches across the U.S., serving all 50 states and Washington, D.C. Since its launch in 2000, Guaranteed Rate Companies has helped more than 1 million homeowners with home purchase loans and refinances, with a total loan volume of more than $116 billion in 2021 alone. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by U.S. News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; HousingWire’s 2020 Tech100 award for the company’s industry-leading FlashClose℠ technology; No. 3 ranking in Scotsman Guide’s 2021 list of Top Retail Mortgage Lenders; Chicago Agent Magazine’s Lender of the Year for six consecutive years; and Chicago Tribune’s Top Workplaces list for seven consecutive years. Visit rate.com for more information.
About Attorneys’ Title Guaranty Fund Inc.
Through its thousands of member attorneys, ATG has presided over more than three million home closings and provided homebuyers with competitively priced title insurance since 1964. ATG has built a significant customer base by providing excellent service at competitive prices. It has been assigned a Financial Stability Rating® (FSR) of A′ (A Prime), Unsurpassed, by the independent ratings bureau, Demotech, Inc. ATG has been included in the Crain’s Chicago Business list of “Chicago’s Largest Privately Held Companies,” for five consecutive years, including 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 title insurance, ATG offers other law and housing-related services through its subsidiary companies. For more information, visit atgf.com/aboutATG/atg-subsidiaries.
Piper Sandler & Co. and Conlon and Company served as financial advisors to ATG; David T. Brown and Peter A. Shepard of Much Law P.C., served as legal counsel to ATG.
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SOURCE Guaranteed Rate Companies