Company launches second phase of its language access program
Retail lender Guaranteed Rate is stepping up its customer-facing communication initiatives by enabling borrowers to digitally apply for a mortgage in Spanish.
The Chicago-headquartered mortgage company has announced that it now offers its rate.com website and digital mortgage application in Spanish. Guaranteed Rate said the move will allow Spanish speakers to “better understand the mortgage process” and “empower all Guaranteed Rate loan officers and processors to best serve this growing and influential customer base.”
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“For too long, millions of Hispanic customers have dreaded their mortgage application process due to the language barrier,” said Camilo Escalante, executive director of diverse segments at Guaranteed Rate. “They have often had to rely on family members or close friends to act as interpreters during the mortgage transaction. Guaranteed Rate is dedicated to building trust with our Hispanic community, and by providing the full mortgage application in Spanish, we are giving these hard-working families the same technology and tools available to English-speaking customers.”
In 2021, the company brought on Arlyn Kalinski as compliance vice president to spearhead its Language Access Program. Kalinski oversaw the creation of Guaranteed Rate’s nationwide bilingual processing team in Spanish and over-the-phone interpretation service for customers in more than 170 languages.
By the end of 2022, the company aims to expand the program with Spanish-language disclosures and agreements, as well as launch the “industry’s first end-to-end customer mortgage origination experience” in Spanish.
“Guaranteed Rate recognizes the incredible opportunity to speak directly to those with Limited English Proficiency,” Kalinski said. “We are committed to connecting with and serving all communities. The main objective of this new phase is to make our products and services more accessible to consumers and to continue to address one of the barriers to homeownership, language access.”
