Proper Rate, a joint venture between Guaranteed Rate and residential brokerage @properties, has tapped Chris Knapp to lead the company as president.
Knapp boomeranged back to Chicago-headquartered Guaranteed Rate after he left in 2019. He held posts at rivals CrossCountry Mortgage, Draper & Kramer Mortgage Corp. and, most recently, Wintrust Mortgage, where he was a vice president.
“I’m delighted to welcome back Chris Knapp as president of Proper Rate. Chris was a great executive sales leader during his impressive 11 years at Guaranteed Rate,” Victor Ciardelli, CEO of Guaranteed Rate, said in a prepared statement.
“With Chris on board, I have no doubt his vast experience will be amazing for Proper Rate’s growth and overall culture. He will ensure we deliver an exceptional customer experience to @Properties’ real estate agents’ clients, and he will definitely help solidify Proper Rate as the premier boutique mortgage company in the industry.”
Knapp spent 10 years at Guaranteed Rate between 2008 and 2019 in multiple leadership roles. He was chief retail production officer at the time of his departure in 2019.
Chicago-based @properties is the nation’s eighth-largest brokerage firm by closed sales volume, according to 2023 data from the RealTrends Verified rankings. The brokerage also owns the Christie’s International Real Estate global luxury brand and network.
Guaranteed Rate, meanwhile, was the nation’s ninth-largest mortgage originator in the first quarter of 2024, according to Inside Mortgage Finance (IMF). The retail lender, which has several other joint ventures with other residential brokerages, originated $7 billion between January and March, according to IMF.
The lender was recently the subject of an investigation by the Chicago Tribune, which alleged a toxic work environment. Guaranteed Rate and Ciardelli denied the allegations.
