World's First Digital Mortgage Yields Industry First with a Fast and Secure Way to Apply for a Mortgage
Guaranteed Rate offers the first Digital Mortgage that Simplifies the Process through Application, Approval and Appraisal
CHICAGO, July 8, 2015 /PRNewswire/ -- Guaranteed Rate, the eighth largest retail mortgage lender in the nation and an industry technology leader, introduces the world's first Digital Mortgage. Guaranteed Rate's Digital Mortgage offers a seamless user experience and cloud-based service for borrowers, simplifying and shortening a previously long and complex process.
"We are moving the mortgage industry into a new and innovative area as the first company to offer a comprehensive Digital Mortgage product nationwide," said Victor Ciardelli, president and CEO of Guaranteed Rate. "Our Digital Mortgage leverages cutting-edge technology to improve the borrower's experience, streamline the process for loan originators alike and simply make obtaining a mortgage so much easier."
The Guaranteed Rate Digital Mortgage guides a homebuyer, or a homeowner who is refinancing, through an easy, step-by-step interface to choose a loan type, view their customized interest rates, complete the online application, see their credit scores from all three credit bureaus, receive an online loan approval, and even allows consumers to securely upload and digitally sign key documents - all at no cost to the borrower. The Digital Mortgage also enables real-time collaboration between the borrower and our loan officers, providing expert advice through the entire experience.
Today's Technology with Security is Key
Traditional mortgages typically require scanning, faxing and sending private information through public email servers, but Guaranteed Rate offers private and secure digital document transfer that eliminates the need for difficult or unsecure information exchange.
This technology is enabled by encrypted cloud storage from Box and e-signature functionality from DocuSign. The platform leverages best-of-breed solutions to create a digital environment for obtaining the loan required to buy or refinance a home.
"We have built strong partnerships and developed innovative technology to make getting a mortgage significantly faster, easier and more secure," said Martin J. Logan, Chief Information Officer at Guaranteed Rate. "Our Digital Mortgage technology will help our customers take the guesswork out of their mortgage status or their information security."
Optimized for mobile use, the digital document upload feature works on iOS, Android and Windows operating systems. In addition, an online payment option for appraisals has been added to further speed the home buying process.
More About Guaranteed Rate
Guaranteed Rate is the eighth largest retail mortgage lender in the United States. The company has become The Home Purchase Experts® by offering industry-leading, self-service tools and low rate, low fee mortgages through an easy-to-understand process and unparalleled customer service. Headquartered in Chicago with approximately 175 offices across the U.S. and licensed in all 50 states, Guaranteed Rate has helped hundreds of thousands of homeowners with more than $80 billion in home purchase loans and refinances since 2000 and nearly $10 billion in 2015 alone through June. Guaranteed Rate was ranked No. 1 in Scotsman Guide's "Top Retail Mortgage Lenders 2014" honors, and was recognized by Inc. magazine as the No. 4 private company job creator in the U.S. in 2013.
Guaranteed Rate has received numerous honors for its technology innovations: last year, Victor Ciardelli was named "CEO of the Year" at the 2014 Illinois Technology Association CityLights Awards and the company's online loan application was named the "Best Corporate Digital Innovation" at the 2013 Moxie Awards. The company now has more top loan originators in the annual national rankings from mortgage industry publications Mortgage Executive, Scotsman Guide and Origination News than any other bank or mortgage company. Please visit www.guaranteedrate.com for more information.
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SOURCE Guaranteed Rate
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