The Loan Store Streamlines Wholesale Lending by launching Gateless Smart Underwrite®

CHICAGO, Oct. 28, 2024 /PRNewswire/ -- Gateless, a revolutionary mortgage technology company on a mission to transform the lending experience, today announced that The Loan Store, a leading national wholesale mortgage lender, has deployed Smart Underwrite^®. Through this collaboration, The Loan Store will leverage Gateless' leading Smart Underwrite^® platform to significantly enhance the lending experience for its network of wholesale partners.

Faster Approvals, Streamlined Workflow
Gateless Smart Underwrite^® automates key aspects of the underwriting process by analyzing loan information, specifically credit, income, asset data, and documents, in real-time. This eliminates manual tasks, reduces the need for back-and-forth communication, and expedites loan approvals for The Loan Store's wholesale partners.

"Smart Underwrite^® perfectly aligns with our commitment to providing exceptional service to our wholesale originator partners and efficiency to our Operations team," said Teresa Reber, Chief Originations Officer at The Loan Store. "By streamlining the underwriting process, we empower our partners to close loans faster and deliver superior client experience. This technology will help us to transform our business."

Helping Wholesale Loan Originators Win
The Loan Store's adoption of Gateless technology translates into several critical advantages for its wholesale brokers:

• Faster loan turnaround times: Smart Underwrite^® accelerates approvals, allowing brokers to close deals quicker with fewer conditions.
• Reduced workload: Automation minimizes manual tasks and reduces conditions, thus freeing up brokers' time to focus on building relationships and originating new loans.
• Improved accuracy and compliance: Smart ensures income data integrity, reducing the risk of errors and delays.
• Enhanced borrower experience: Faster approvals and smoother workflows lead to a more positive experience for partners.

Mike Brown, Chief Revenue Officer at Gateless, shared his excitement about the collaboration with The Loan Store, saying, "We're glad to work alongside forward-thinking and dedicated lenders like The Loan Store. Their input has been incredibly valuable, significantly shaping the ongoing development of Smart Underwrite, especially in the growing wholesale market." He also emphasized, "The Loan Store's decision to partner with Gateless highlights their commitment to creating a more efficient loan process and delivering an exceptional experience for their partners and their partner's clients."

Smart Underwrite^® next-generation technology combines expert systems, artificial intelligence, and robotic process automation to deliver reduced operating costs, mitigate the risk of human error and costly repurchase, and vastly improve the borrower experience.

For more information, please visit www.gateless.com or contact Gateless directly at [email protected].

About The Loan Store

The Loan Store is a leading national wholesale mortgage lender offering a comprehensive portfolio of loan products. With a commitment to exceptional service and innovative technology, The Loan Store empowers its network of brokers to deliver the best possible experience to their clients.

About Gateless, Inc.

Gateless is a mortgage technology company on a mission to transform the lending experience. The company's intelligent automation platform automates key processes and decisions using artificial intelligence, enabling lenders to streamline operations, reduce costs, and deliver a faster, more efficient lending experience for borrowers. Gateless is committed to empowering lenders with the right technology to solve real problems and drive meaningful change in the mortgage industry.  For more information, visit www.gateless.com and follow us on social media on LinkedIn. Gateless is also recognized as a HousingWire Top 100 Tech Winner.

SOURCE Gateless