New technology platform simplifies underwriting, improving turnaround times and accuracy
The Loan Store, a national wholesale mortgage lender, has announced a partnership with mortgage tech firm Gateless to improve its underwriting process through the new Smart Underwrite platform.
The new platform is designed to simplify and speed up loan processing for The Loan Store’s wholesale partners, making approvals faster and reducing administrative burdens through advanced automation.
Smart Underwrite uses artificial intelligence to analyze loan data—credit, income, and asset information—in real time. By automating these tasks, the platform cuts down on back-and-forth communication, allowing wholesale partners to close loans faster.
According to Teresa Reber, chief originations officer at The Loan Store, the platform is intended to deliver a smoother, more efficient lending process.
For brokers in The Loan Store’s network, the platform promises several key benefits: faster loan turnaround, reduced administrative tasks, improved accuracy, and a smoother borrower experience. As approvals speed up, brokers can close deals more quickly, which strengthens client relationships and enables brokers to focus on generating new loans.
"Smart Underwrite perfectly aligns with our commitment to providing exceptional service to our wholesale originator partners and efficiency to our perations team," Reber said in a media release. "By streamlining the underwriting process, we empower our partners to close loans faster and deliver superior client experience. This technology will help us to transform our business."
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"We're glad to work alongside forward-thinking and dedicated lenders like The Loan Store,” Gateless chief revenue officer Mike Brown added. “Their input has been incredibly valuable, significantly shaping the ongoing development of Smart Underwrite, especially in the growing wholesale market." He also emphasized, "The Loan Store's decision to partner with Gateless highlights their commitment to creating a more efficient loan process and delivering an exceptional experience for their partners and their partner's clients."
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