Chicago-based Guaranteed Rate, one of the largest retail mortgage lenders in the nation, announced the appointment of industry veteran Joseph Grassi as chief risk officer to oversee its risk management and join the leadership team to support the company’s growth.
Grassi, whose experience in the industry spans several decades, is responsible for assessing and mitigating potential risks, while continually maintaining and improving a strong compliance environment. This includes integrated oversight and working closely with leaders of departments across the company, including credit, internal audit, compliance and legal.
“We are thrilled to have Joe as part of our team,” said Guaranteed Rate founder and CEO, Victor Ciardelli. “His impressive industry experience will allow us to build on our strong compliance and risk management functions while greatly supporting our company as we continue our momentum of innovation and growth.”
Before joining Guaranteed Rate, Grassi spent over 20 years at Fannie Mae as a lead legal advisor, and most recently served as the principal deputy general counsel for the U.S. Department of Housing and Urban Development. Throughout his career, he has settled major regulatory matters and provided strategic advice to help achieve business goals, streamlining the compliance and legal operations in order to reduce costs and improve performance.
“Guiding this great organization through its continued and significant growth by managing the unique risks associated with the mortgage industry is an incredible opportunity and an exciting challenge,” said Grassi. “Guaranteed Rate is known for setting the standard for customer service and I’m thrilled to be part of a company with such a positive culture.”