Rate Adds $85 Million Mortgage Production Team Led by Industry Veteran Mike Raimi
The former CrossCountry Mortgage team brings specialized lending expertise, entrepreneurial leadership and a strong
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CHICAGO, Nov. 12, 2026 (GLOBE NEWSWIRE) — Rate, a leading fintech company, today announced that mortgage industry veteran and attorney Mike Raimi has joined the company as a profit and loss (P&L) branch leader, bringing an established team responsible for approximately $85 million in annual loan production. The team joins from CrossCountry Mortgage and will leverage Rate’s technology, product offerings and national platform to accelerate growth and expand its lending capabilities.
Based in the greater Detroit market in Southfield, MI, Raimi leads a team of experienced mortgage professionals that includes loan originator and SVP Brian Shapiro, who will co-lead the branch, as well as Mike Sparks and Tony Grech, along with Production Manager Brian Parshall and operations professional Hollie Herron. The team brings a broad lending background, with particular strength in non-qualified mortgage (non-QM) products, serving borrowers whose financial circumstances may fall outside conventional lending guidelines.
“Mike and his team represent exactly the kind of entrepreneurial talent we’re focused on bringing to Rate,” said Josip Capelj, Senior Vice President of Retail Production at Rate. “They have built a substantial business through strong relationships, deep product knowledge and a commitment to finding solutions for their customers. Mike also brings a unique perspective as an attorney, which is particularly valuable in today’s increasingly complex lending environment. With Rate’s technology, resources and product capabilities behind them, we see tremendous opportunity for this team to build on its success and grow.”
Raimi brings more than 15 years of mortgage industry experience, combining his legal background with a proven track record in loan origination, business development and team leadership. His expertise spans conventional, government-backed and non-QM lending, allowing him and his team to address a wide range of financing needs, including those of self-employed borrowers, business owners and customers with more complex financial profiles.
The team’s move to Rate reflects the company’s continued success attracting top-producing mortgage entrepreneurs through its differentiated partnership P&L model. Designed to combine the independence and financial upside of running a business with the scale and resources of a leading national fintech company, Rate’s model gives branch leaders greater control over staffing, operations and growth investments, backed by competitive pricing, advanced technology, dedicated underwriting and comprehensive operational support. For established producers like Raimi, the model offers a proven platform to accelerate growth, strengthen profitability and build long-term enterprise value.
“We’ve built our business by earning trust, understanding our customers’ needs and finding solutions that other lenders may overlook,” said Raimi. “My background as an attorney has shaped the way I approach this business. Details matter, relationships matter and the ability to navigate complex situations is often what makes the difference. Rate gives us the technology, product depth and operational support to take what we’ve built to another level. We’re bringing a proven team and a strong foundation, and we see a significant opportunity to grow.”
With lending licenses spanning 30 states, the team is positioned to serve customers and referral partners across a broad national footprint. Its addition further strengthens Rate’s retail production network and expands the company’s ability to serve borrowers with diverse financing needs.
About Rate
Rate believes true wellness is when your financial, physical and mental health are in harmony. Our mission is to inspire people to live longer, happier and more fulfilling lives. We’ve already helped more than 2 million Americans get into their homes. Now we’re helping them thrive inside their homes — and everywhere else in their lives. To further our mission, Rate is building the world’s largest wellness community to give people the tools, resources and support to build a life they truly love. Learn more at rate.com and download the Rate App today.
Recognition: Chicago Agent Magazine Lender of the Year (seven consecutive years), Best Mortgage Lender for First-Time Homebuyers by NerdWallet, multiple recognitions as a Best Mortgage Lender by NerdWallet, named to Fortune’s Best Mortgage Lenders (2025), Best Mortgage Lender of 2025 by Forbes, named among the Best Mortgage Lenders of 2025 by Motley Fool and recognized as the Most Recommended Mortgage Lender in America by Motley Fool / MarketWatch. Visit rate.com for more information.
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