Rate Strengthens Chicago Presence with Key Hires, New Elmhurst Branch
Mortgage company Rate has expanded its Midwest operations by hiring experienced mortgage producers Vito Roppo and Nick Ferrante and opening a new branch in Elmhurst, Illinois. This move strengthens Rate's presence in the Chicago western suburbs and is part of its broader profit-and-loss platform expansion.
The short version
- Mortgage company Rate has expanded its Midwest operations, adding Vito Roppo and Nick Ferrante as Producing Partnership Branch Managers and opening a new branch in Elmhurst, Illinois.
- Roppo and Ferrante, who previously worked at Fairway Home Mortgage, bring a combined $155 million in mortgage production, though the reporting period for this figure was not specified by National Mortgage Professional.
- The new Elmhurst branch is located in Chicago's western suburbs, straddling Cook and DuPage Counties, targeting a region where Roppo and Ferrante have established local real estate relationships.
- This expansion is part of Rate's strategy to grow its profit-and-loss (P&L) platform by recruiting established mortgage professionals and providing them with greater operational control and resources.
Rate, a prominent mortgage lender, has significantly expanded its Midwest operations by bringing on two established Chicago-area mortgage leaders and opening a new branch in Elmhurst, Illinois. This strategic move, reported by HousingWire, National Mortgage Professional, and National Mortgage News on September 2 and 3, 2026, is part of Rate's ongoing effort to grow its profit-and-loss (P&L) platform and strengthen its regional footprint.
The company announced the additions of Vito Roppo and Nick Ferrante, both formerly of Fairway Home Mortgage, as Producing Partnership Branch Managers. Their recruitment and the establishment of the Elmhurst location reflect Rate's commitment to enhancing its presence in key suburban markets around Chicago.
Who are the new mortgage leaders joining Rate?
Vito Roppo and Nick Ferrante have joined Rate as Producing Partnership Branch Managers, bringing extensive experience to the new Elmhurst operation. Roppo, who has 25 years of mortgage experience, specializes in FHA, jumbo, and portfolio lending. Ferrante brings over a decade of experience in the mortgage industry. Together, the duo reportedly accounts for $155 million in combined mortgage production; however, National Mortgage Professional noted that the specific period covered by this figure was not specified. According to Roppo, "We saw in Rate a profit and loss platform that can help us deliver an even better experience for our customers and real estate partners."
Ferrante emphasized the importance of local relationships, stating, "Our business is built from strong local relationships and a clear sense of how we want to operate." Both leaders expressed confidence that Rate's platform and resources would support their continued growth and ability to serve homebuyers.
Why is Rate opening a branch in Elmhurst?
Rate's new branch in Elmhurst, Illinois, strategically expands its presence in Chicago's western suburbs, an area where Roppo and Ferrante have deep roots and established relationships within the local real estate community. Elmhurst is situated across Cook and DuPage Counties, making it a pivotal location for tapping into the suburban housing market. Jim Eboli, Executive Vice President and Midwest Divisional Manager at Rate, commented, "Vito and Nick are accomplished producers who have built a strong business in the western suburbs." He added that "Adding leaders of their caliber is a major win for us" and that Rate is prepared to provide them with the necessary resources to thrive.
What is Rate's strategy behind this expansion?
This expansion is a key component of Rate's broader strategy to scale its profit-and-loss (P&L) platform. The company is actively recruiting established mortgage professionals and branch leaders, offering them greater autonomy and control over local operations. In return, these leaders gain access to Rate's comprehensive suite of technology, marketing support, and robust operational resources. Roppo noted that Rate "has a historically strong presence in Chicago, along with the technology and support to help us move quickly and keep growing" and that "It felt like the best place to satisfy more homebuyers and close the most amount of loans." Ferrante echoed this sentiment, stating, "Rate gives producers room to make decisions and move quickly, and that fits how Vito and I work," and that they "can preserve what has made our business successful while gaining additional resources to keep growing."
What does this mean for the Chicago-area real estate market?
The opening of Rate's Elmhurst branch, combined with the addition of experienced local leaders, signals increased competition and enhanced service options for homebuyers and real estate partners in Chicago's western suburbs. The objective for Roppo and Ferrante is to leverage Rate's platform to grow their business and improve local performance. This move reflects a trend among larger lenders to empower local teams while providing the backing of extensive corporate infrastructure, potentially benefiting consumers through more efficient and tailored mortgage solutions.
This is educational information, not legal, financial, tax, or investment advice.
Frequently asked questions
What kind of experience do Vito Roppo and Nick Ferrante bring to Rate?
Vito Roppo has 25 years of mortgage experience, specializing in FHA, jumbo, and portfolio lending. Nick Ferrante has over a decade of experience in the mortgage industry, and both previously worked at Fairway Home Mortgage.
What is the significance of the Elmhurst branch location?
The Elmhurst branch is strategically located in Chicago's western suburbs, an area where Roppo and Ferrante have established strong local relationships within the real estate community, aligning with Rate's expansion goals in a key market.
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