Shant Banosian, ranked the No. 1 loan originator in the country by volume for at least five years, is assuming the role of president at Rate Mortgage, the company announced Tuesday. Victor Ciardelli will remain the CEO of Rate Companies.

Rate, formerly known as Guaranteed Rate before a rebrand in 2024, ranked as No. 8 on the Inside Mortgage Finance ranking of top originators at just under $40 billion. Banosian has served as executive vice president of sales at Rate for more than a decade, leading his Boston-based team to originate more than $2 billion in details ⇒

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