Innovative collaboration enhances underwriting, ensuring faster loan approvals, improved accuracy, and a more transparent experience for homebuyers
Gateless, a leading provider of automated underwriting solutions, announced that Developer’s Mortgage, a top residential mortgage lender, has successfully integrated Smart Underwrite to enhance the processing of both conforming and FHA loans. This collaboration streamlines and automates the underwriting process, giving homebuyers a faster, more efficient, and more transparent path to loan approval.
Smart Underwrite, a cutting-edge solution from Gateless, leverages intelligent automation and advanced machine learning to transform how loans are underwritten from start to finish. In addition to automating data validation, Smart Underwrite automatically calculates borrower income and clears underwriting conditions in real time, significantly reducing the need for manual review. This powerful automation delivers faster, more accurate loan approvals and frees underwriters to focus on complex scenarios. The result is a more efficient process, fewer underwriting touches, and a smoother, more transparent experience for borrowers and lenders alike.
“We are excited to partner with Gateless. Leveraging Smart Underwrite allows us to be more efficient and focus our Underwriters where we need a human,” said Taylor Stork, Chief Operating Officer of Developer’s Mortgage. “Because of this, we can handle both conforming loans and FHA with unparalleled speed and accuracy. This capability enables us to offer a better experience for our customers and gives us a competitive advantage.”
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A New Standard for Conforming and FHA Loans
As the mortgage industry continues to evolve, lenders and consumers are increasingly seeking tools that improve efficiency without sacrificing reliability. Smart Underwrite addresses this need by providing real-time validation of borrower data, verifying income, assets, and employment history in seconds, resulting in faster loan decisions and closing times.
“Developers Mortgage is committed to providing borrowers and lenders with a smarter, faster way to close loans,” said Mike Brown, Chief Revenue Officer at Gateless. “We are proud to support Developer’s Mortgage as they continue to innovate. We believe this technology is mission-critical for all lenders to compete with the industry leaders.”
Improved Borrower Experience
The real-time automation of Smart Underwrite creates an immediate benefit for borrowers. By speeding up loan processing, homebuyers receive quicker feedback on their loan status, ensuring a more predictable path to closing. The reduction of manual errors also minimizes the chances of last-minute surprises, improving satisfaction and trust throughout the mortgage journey.
“Partnering with Gateless allows us to deliver a faster, more transparent experience for borrowers,” said Stork. “With Smart Underwrite, we can assure our clients that their loan process will be handled with the utmost care and speed, helping them move forward with confidence.”
How Smart Underwrite Works
The Smart Underwrite solution uses advanced document recognition, expert systems, and an unmatched level of LOS integration to cross-check borrower data against multiple verified sources in real-time. It flags discrepancies, verifies key financial information, and automates crucial checks, reducing time-consuming manual reviews. The result is a more efficient underwriting process, with faster approvals and a higher level of accuracy.
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