Optimal Blue Supports Guaranteed Rate's Digital Mortgage Initiative
Optimal Blue partner, Guaranteed Rate, recently pioneered Digital Mortgage, an innovative online platform that will save its customers hours of time and effort. The eighth largest retail mortgage lender in the nation and an industry technology leader, Guaranteed Rate reports that since launching the world's first Digital Mortgage in June, more than 4,400 people have already locked more than $1.4 billion in loans via the new technology.
Guaranteed Rate's innovative Digital Mortgage relies on cloud-based managed content and automated decisioning provided by Optimal Blue, through its Product eligibility and Pricing Engine (PPE) service. Optimal Blue is the premier cloud-based provider of managed-content, PPE and compliance services to the mortgage industry. Optimal Blue's PPE ensures accurate pricing and fees to the consumer. While traditional mortgages typically require scanning, faxing and sending private information through public email servers, Guaranteed Rate's cutting-edge technology provides private and secure digital document transfer that simplifies and shortens a previously long and complex process -- with the majority of customers able to complete the new Digital Mortgage from application to approval in 25 minutes or less.
"This is a revolutionary change for the mortgage industry, as borrowers are now able to take charge of the process and complete each step of the Digital Mortgage online at their own pace," said Victor Ciardelli, president and CEO of Guaranteed Rate.
Guaranteed Rate began utilizing Optimal Blue's enterprise suite of services in 2012. "Providing cloud-based, cutting edge services to our customers is what drives Optimal Blue," said Larry Huff, co-CEO of Optimal Blue. "We are excited to be a part of Guaranteed Rates' successful implementation with our private label pricing service. Guaranteed Rate is a leader in the industry on many fronts, and Optimal Blue is honored to be part of this initiative and their success."