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 thrown out FlashClose℠, its innovative all-in-one digital Fintech tool that enables homebuyers to sign documents and close their loans remotely from anywhere. The technology became a true digital differentiator during the COVID-19 pandemic and received a coveted HousingWire 2020 Tech100 Award.

While this comprehensive digital fintech tool has allowed buyers to digitally immerse themselves in their home purchases and avoid the traditional hassle of the in-person closing table, it has also had a significantly positive impact on the environment. When used to process a full loan, FlashClose^℠ saves borrowers nearly 132 pages of paper, while a hybrid remote closing, which uses the tool to handle much but not all of the paperwork, saves nearly 50 pages.

Since its release, FlashClose^℠ has been used by guaranteed rate companies to close more than 335,000 loans for a total loan volume of more than $100 billion. The company is pleased to announce that, in honor of the United Nations World Environment Day, the 5th Junethat FlashClose^℠ has helped the environment by saving more than 17 million sheets of paper. It is estimated that one tree produces approximately 10,000 sheets of paper, which means that Guaranteed Rate’s comprehensive digital innovation has saved some 1,700 trees.

“We’re incredibly proud that our comprehensive, industry-leading digital FlashClose℠ tool has had such a positive benefit to the environment,” he says. ramesh sarukkai, Director of Product and Technology of Guaranteed Rate. “It’s just one example of the ways our technology team is creating 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 in chicagoRate Guarantee Companies has more than 10,000 employees at more than 850 locations in the US, serving all 50 states and Washington D.C. Since its launch in 2000, Guaranteed Rate Companies have helped more than 1 million homeowners with home loans and refinances, with a total loan volume of more than $116 billion in 2021 only. The company has established itself as an industry leader by introducing innovative technology, offering low rates and providing 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 Refinancing by NerdWallet for 2021; HousingWire’s 2020 Tech100 Award for the company’s industry-leading FlashClose℠ technology; No. 3 in the 2021 Scotsman Guide ranking of top retail mortgage lenders; Chicago Agent Magazine’s Lender of the Year for six years in a row; and the Chicago Tribune’s Best Places to Work list for seven years in a row. Visit rate.com for more information.

SOURCE Guaranteed Rate Companies