This week, Gateless announced that Guaranteed Rate, a mortgage lender, has successfully implemented their automated underwriting technology, Smart Underwrite. The technology is designed to create an efficient underwriting process to help lenders deliver high quality customer service while making accurate and fast decisions on mortgages.

Smart Underwrite leverages AI capabilities to expedite processing time and eliminate manual underwriting. The automated system is much more consistent than traditional underwriting, fulfilling rigorous underwriting guidelines while accurately assess all loan files. Furthermore, Machine Learning algorithms can be used to flag anomalies such as incorrect or missing documents to reduce errors and streamline the process. Smart Underwrite also provides detailed information on rules for each loan, giving lenders more detailed insights.

Key Points:
• Gateless announced that Guaranteed Rate has successfully implemented the Smart Underwrite solution
• Smart Underwrite uses AI capabilities to expedite processing time and eliminate manual underwriting
• Machine Learning algorithms to flag anomalies and reduce errors
• The technology provides detailed insight on rules for each loan.

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