Rate Acquires Dallas Mortgage Branch From CrossCountry

Rate, a mortgage lender, announced the acquisition of a prominent Dallas mortgage branch from CrossCountry Mortgage on March 11, 2024. This strategic move aims to bolster Rate's presence in the Texas market and enhance its service offerings. The acquired branch is recognized for its strong performance and its commitment to serving a diverse clientele.

Key factors influencing the decision to move to Rate, as stated by the branch leaders, include the company's advanced technology platform and its robust Spanish-language support capabilities. These elements are crucial for effectively reaching and serving the growing Hispanic population in the Dallas-Fort Worth metroplex. The branch leaders expressed confidence that Rate's infrastructure and resources will enable them to provide an even higher level of service to their existing and future clients.

CrossCountry Mortgage, the originating company, is a national mortgage lender headquartered in Boca Raton, Florida. Founded in 2003, it has grown to become one of the largest retail mortgage lenders in the United States. The company offers a wide range of mortgage products and services, including purchase loans, refinance options, and specialized loan programs.

Rate, on the other hand, is a technology-driven mortgage company focused on streamlining the home loan process through digital innovation. The company emphasizes a client-centric approach, leveraging technology to provide a transparent and efficient borrowing experience. This acquisition aligns with Rate's broader strategy of expanding its geographic footprint and integrating high-performing teams that share its vision for the future of mortgage lending. The integration of the Dallas branch is expected to be completed in the coming weeks, with the team transitioning to Rate's systems and operational framework.

The Dallas-Fort Worth area is a significant market for the mortgage industry, characterized by a dynamic housing market and a growing population. The addition of this established branch is anticipated to provide Rate with immediate market share and a strong foundation for further growth in the region. The emphasis on Spanish-language support is particularly noteworthy, reflecting an understanding of the demographic shifts and the need for culturally competent financial services. This move positions Rate to better compete in a diverse and competitive lending landscape.