Rate and Compass International Holdings announced that their two mortgage joint ventures, Guaranteed Rate Affinity and OriginPoint, will merge under the OriginPoint brand. 

The move will create a top 10 national retail mortgage lender thanks to their parents’ respective specialties. Rate is a leading fintech company, while Compass is a leading real estate brokerage company. 

According to the companies, the combination will result in a mortgage business with “vastly greater resources and geographic reach, still backed by Rate’s advanced AI technology, breadth of products and state-of-the-art, end-to-end mortgage lending platform.” 

The combined platform will take advantage of Compass’ owned-brokerage network of over 80,000 real estate agents, according to an announcement.  

“This merger creates a powerhouse lending platform never before seen in the real estate industry,” said Victor Ciardelli, founder and CEO of Rate. “Between Coldwell Banker Realty and Compass alone, there are over 200,000 buy-side purchase transactions representing more than $200 billion in purchase volume. OriginPoint now connects the best real estate professionals and the best loan officers in the country. It is a once-in-a-generation opportunity for best-in-class loan officers to exponentially grow their businesses.” 

Compass and OriginPoint will continue to invest in building out their platform. The companies said that OriginPoint customers will receive a “streamlined real estate experience unmatched in the industry” that lets them find, secure and close on a home in as few as 10 days.  

“OriginPoint is a trusted partner of our team. By bringing our two joint ventures with Rate together, we can now serve our clients better than ever before,” Compass Chairman and CEO Robert Reffkin said. “We can connect more great real estate professionals with more great loan officers to create a simpler, more seamless and connected experience for homebuyers.”