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March 06.2025
2 Minutes Read

Shant Banosian Named President: A Strategic Move for Rate Mortgage amid Joint Venture Struggles

Shant Banosian appointed president of Rate Mortgage illustration.

Introducing a New Era: Shant Banosian Takes the Helm at Rate Mortgage

In a notable shift within the mortgage industry, Guaranteed Rate Inc. has appointed Shant Banosian, a standout figure recognized as the country’s top loan originator, as president of its retail mortgage division. This change comes at a challenging time when the company’s joint ventures with real estate powerhouses such as Compass and Anywhere Real Estate seek new paths to profitability.

A Leader with Proven Success

Banosian steps into his new role amid a reshaping mortgage landscape, following a period where mortgage rates soared to nearly 7%. In 2023, many potential homebuyers found themselves sidelined, resulting in the slowest existing-home sales year since 1995. Bringing over 20 years of experience and more than $10 billion in funded mortgages under his belt, he is expected to stimulate change and rejuvenate Rate’s retail operations.

Understanding the Challenges Facing the Industry

The road ahead is not devoid of obstacles. Rate’s joint ventures, especially Guaranteed Rate Affinity with Anywhere Real Estate, did not meet profit expectations last year, generating only $2 million in equity earnings. Banosian aims to leverage his insights, having closed over $1 billion in loans in 2024 alone, to expand the company’s reach and support its loan officers amid rising cost challenges tied to affordability and inventory shortages.

Embracing Change and Innovation

As the mortgage space continues to evolve, Banosian expressed enthusiasm for adopting new technologies to enhance service delivery. The company’s tools, like Same-Day Mortgage, are critical in providing loan originators (LOs) the necessary edge to navigate the current market conditions successfully. His focus on technology not only improves customer experience but also empowers LOs, allowing them to serve clients during critical moments.

Building Community Within the Company

While achieving profitability is vital, Banosian emphasizes the importance of employee satisfaction and support. He believes that the success of the retail mortgage division will be gauged by how empowered the loan originators feel in their work environment. His objective is to foster a culture that prioritizes training and development, helping LOs not just grow their businesses, but also their lives. "Success in work and personal satisfaction should go hand in hand," Banosian shared, highlighting the need for balance.

A Vision for the Future

In discussing the future, Banosian referenced a potential housing market rebirth, where increasing inventory and decreasing rates could create unprecedented opportunities. His optimistic approach is not just about hope; it’s a strategy to attract talent and partners ready to innovate in a challenging market.

Conclusion: A Strategic Move for Rate Mortgage

With Shant Banosian at the helm, Rate Mortgage braces for an exciting yet challenging journey ahead. As the industry adapts to new trends and demands, Banosian’s leadership could set the groundwork for success, both for his team and for the company’s position in the mortgage landscape.

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11.29.2025

Why Your Brand Needs to Embrace Authentic Vibes This Holiday Season

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11.28.2025

Swalwell's Bold Lawsuit Against Pulte: A Fight for Accountability and Truth

Update Eric Swalwell's Legal Clash: Unveiling the Allegations Against Bill Pulte In a bold legal maneuver, Rep. Eric Swalwell has launched a lawsuit against Bill Pulte, Director of the Federal Housing Finance Agency (FHFA), alongside key financial institutions Fannie Mae and Freddie Mac. The lawsuit, initiated in the U.S. District Court for the District of Columbia, centers on allegations of misuse of power and unlawful privacy violations in the context of mortgage fraud accusations targeting Democratic lawmakers. The complaint asserts that Pulte abused his authority by creating false narratives around Swalwell’s mortgage affairs, suggesting that Swalwell fraudulently claimed his Washington, D.C. home as his primary residence. Swalwell's legal team fervently denies these claims, asserting that a sworn affidavit confirms the home as belonging to his wife, thus maintaining Swalwell's status as a California resident. Questions Surrounding Accountability and Ethics The allegations against Pulte go beyond personal attacks on Swalwell. They suggest a systematic attempt to silence political opponents through an abuse of governmental tools. According to Swalwell’s complaint, ethics officials who investigated misconduct within Fannie Mae were dismissed after raising concerns about Pulte's conduct. This points to serious ethical implications within a federal agency that should operate with transparency and accountability. “Pulte effectively exercises unchecked control over Fannie Mae and Freddie Mac,” Swalwell’s complaint states, raising alarms about how such powers can be exploited to target opposition voices. This incident not only highlights a significant abuse of power but also reignites discussions on the integrity of political institutions and their leaders. The Broader Political Context and Implications This legal battle emerges at a time of heightened political tensions and scrutiny, particularly related to the actions of the Trump administration's appointees like Pulte. Critics have claimed that investigations into Democratic figures are politically motivated, with Pulte’s referrals predominantly targeting individuals aligned against Trump. Historical parallels can be drawn here, as previous political administrations have also witnessed allegations of weaponizing governmental authority against adversaries. The recent dismissal of charges against New York Attorney General Letitia James and former FBI Director James Comey by a federal judge underscores the delicate balance of political power and the law in today's polarized environment. Such incidents provoke concern about the potential chilling effects on public discourse and the integrity of political institutions. Possible Outcomes and Future Predictions The unfolding legal processes may yield critical implications for future governmental conduct and the safeguarding of ethical integrity in public office. Experts predict that this case could set precedents regarding the use of governmental data, influencing how similar claims are handled in the future. There is also the possibility of reevaluating laws governing privacy and the safeguarding of citizens’ personal information against governmental overreach. As Swalwell’s lawsuit continues, the public will undoubtedly remain watchful of the outcomes, as they may affect both Swalwell’s political ambitions and the overarching narrative of accountability in federal institutions. Why This Matters to You This lawsuit isn’t just about one individual's accusation against a powerful agency head. It touches on wider issues of civil rights, privacy, and political accountability that affect every American. As citizens, we must remain vigilant about the integrity of our political systems and be aware of how they influence our daily lives. In times of political crisis, becoming informed and engaged in discussions surrounding these issues is vital. For those in California and beyond, the implications of this case could reverberate in upcoming elections and policy decisions. Keeping a close eye on the developments will not only provide insight into specific political practices but also empower voters to demand transparency and accountability from their elected officials.

11.27.2025

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