Revolutionary end-to-end digital technology used to close more than $100 billion in loan volume
CHICAGO, June 3, 2022 /PRNewswire/ — In 2019, Guaranteed rate companies spear FlashClose℠, its revolutionary end-to-end digital Fintech tool that allows homebuyers to sign documents and close their loans remotely, wherever they are. Technology has become a true digital differentiator during the COVID-19 pandemic and has received a coveted award HousingWire Tech100 Award 2020.
While this end-to-end digital Fintech tool has enabled buyers to digitally dive into their real estate purchases and avoid the traditional hassle of the in-person closing table, it has also had a significant positive impact on the environment. When used to process an entire loan, FlashClose℠ saves borrowers nearly 132 pages of paper, while a hybrid remote close, which uses the tool to handle much but not all of the paperwork, saves nearly 50 pages.
Since its launch, FlashClose℠ has been used by guaranteed rate companies to close over 335,000 loans for a total loan volume of over $100 billion. The company is delighted to announce that in honor of the United Nations World Environment Day the June 5than FlashClose℠ helped the environment by saving more than 17 million sheets of paper. It is estimated that one tree produces around 10,000 sheets of paper, which means that Guaranteed Rate’s end-to-end digital innovation has saved some 1,700 trees.
“We are extremely proud that our industry-leading FlashClose℠ digital tool has had such a positive impact on the environment,” says Ramesh Sarukkai, Chief Product and Technology Officer of Guaranteed Rate. “This is just one example of how our technical team creates fast, simple and innovative Fintech tools to improve the lives of our customers.”
About Guaranteed Rate Companies
Guaranteed Rate Companies is a leader in mortgage lending and digital financial services. Based at Chicagoguaranteed rate companies have more than 10,000 employees in more than 850 branches across the United States, serving all 50 states and washington d.c. Since its launch in 2000, Rate Guarantee Companies have helped more than one million homeowners with home purchase loans and refinances, with a total loan volume of more than $116 billion in 2021 alone. The company has established itself as an industry leader by introducing innovative technology, offering low rates and offering unparalleled customer service. Honors and awards include: Best Lender for Online Service for 2018 by US News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinance by NerdWallet for 2021; HousingWire’s 2020 Tech100 Award for the company’s leading FlashClose℠ technology; Ranked 3rd in the Scotsman Guide’s 2021 list of Best Retail Mortgage Lenders; Chicago Agent Magazine’s Lender of the Year for six consecutive years; and the Chicago Tribune’s Best Workplaces list for seven consecutive years. Visit rate.com for more information.
SOURCE Guaranteed Rate Firms