Rate Poaches Over a Dozen Loan Officers from New American Funding
Event summary
- More than a dozen loan officers have defected from New American Funding to Rate, bringing nine figures in production volume.
- Notable defectors include Jay Kunkle and Chad Geyer, who returned to Rate after stints at other lenders.
- Rate highlights its platform, product depth, pricing, technology, and collaborative culture as key attractions for the new hires.
The big picture
Rate's ability to attract experienced loan officers back to its platform underscores the competitive pressure in the mortgage lending space. The defection of multiple high-performing loan officers from New American Funding highlights Rate's strategic focus on technology, product depth, and collaborative culture as key differentiators. This move could signal a broader industry trend where fintech platforms leverage advanced tools and pricing to win over talent from traditional lenders.
What we're watching
- Talent Retention
- Whether Rate can sustain this momentum in attracting and retaining top loan officers from competitors.
- Platform Differentiation
- How Rate's technology, product offerings, and pricing will continue to influence loan officer decisions.
- Market Impact
- The pace at which this talent shift could affect New American Funding’s market position and Rate’s growth trajectory.
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