Rate Money has been on a meteoric rise since its launch 2019, settling well over $2 billion in loans over the past 18 months. This success has surprised many in the non-bank space, but not Ryan Gair, Rate Money’s CEO and founding partner, who said “it comes down to the fact that we haven’t forgotten who our customers are.”
Read more: The rise and rise of Rate Money
“Too many corporations and organisations focus on their shareholders and delivering results for them,” Gair said. “We haven’t, and we’ll never forget who believed and invested in us since day one: our branch principals.”
Gair and his partners, Glenn Maynard and Luke Sheales, have a total of 50-plus years’ experience in the mortgage industry.
“We understand the pain points of brokers,” Gair said. “They know how to write loans, but they don’t necessarily have the know-how or the time to successfully grow a business. They also tend to feel alone. That’s where we come in. We’ve developed a network of like-minded, hard-working, driven individuals that have come together with one common goal: to succeed.”
Gair said that Rate Money’s founders wholeheartedly support their branch principals, so they can focus on what they do best – writing loans.
“At the Rate Money head office, we ask ourselves one thing every day: ‘How can we provide the branches with better processes, better systems and better products?’” Gair said. “Every day our team try to better our branches and provide them with the support they need. It’s as simple as that.”
Now with over 24 branches nationwide and plans to expand to 40 by the end of the year, Rate Money also expands its support team to meet the needs of the lender’s rapidly growing branch network. Its team includes deskbound BDMs, on-road BDMs, and a dedicated national training manager who provides any information branch principals require regarding credit policies and guidelines.
Rate Money provides branch principals all the support they need to succeed, including consistent leads, signages, merchandise, and assistance with their local area marketing plans, Gair said.
“Once the branches settle a deal, our in-house post-settlement team will provide their clients with the support they require from the moment the loan settles, providing welcome calls and setting up their online banking,” he said.
Rate Money’s support doesn’t stop at helping branches generate more business. They also make sure everything is done to retain the customer for life, Gaid said.
“Plus we’re continuing to reinvest back into the business, in all divisions of Rate Money, to ensure we can give the very best support possible to our branches,” Gair said. “Whether that be new hires, new processes, or new technology, we’re consistently looking to improve the end-to-end process. We know if our network has an impeccable platform to work from, our customers will have a flawless experience. And at the end of the day, that’s what it’s all about.”
Rate Money also takes brokers’ worries away about compliance. Its dedicated compliance team ensures that brokers and their loan writers and businesses are kept up to date with the latest policies so they are always compliant. They are also provided with the latest processes and software and the best products available on the market, Gair said.
