Benchmark Retail President Marty Preston Joins Rate, Signaling Shift in Mortgage Lending Model
Event summary
- Marty Preston, former Benchmark President of Retail, has moved his business to Rate after evaluating over 20 lenders.
- Preston grew his production team from $200M to over $900M in annual volume in three years at Benchmark.
- Rate was chosen for its transparent profit and loss model, technology infrastructure, and ability to close loans.
- Preston cited Rate's unmatched ability to close loans and support complex, multi-market lending scenarios as key factors.
- Rate's platform is designed to transform loan originators into CEOs of their own business.
The big picture
Marty Preston's move to Rate highlights a broader industry trend where top-performing loan originators are seeking profit and loss operating models that offer both independence and access to scaled infrastructure, technology, and capital. This shift underscores the strategic importance of platform selection for entrepreneurial leaders in the mortgage industry. Rate's ability to combine autonomy with scale and infrastructure positions it as a key player in this evolving market.
What we're watching
- Profit and Loss Model
- How Rate's profit and loss model will attract more top-performing loan originators and leaders.
- Technology Infrastructure
- Whether Rate can sustain its technological edge and closing power as it scales.
- Market Evolution
- The pace at which the mortgage industry adopts profit and loss operating models.
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