For World Environment Day, Guaranteed Rate announces the award-winning FlashClose[SM] Fintech tool saved more than 17 million sheets of paper
Breakthrough end-to-end digital technology used to more than close $100 billion in credit volume
CHICAGO, June 3, 2022 /PRNewswire/ — 2019 Company with guaranteed price started FlashClose℠, its groundbreaking end-to-end digital fintech tool that enables homebuyers to sign documents and close their loans from anywhere. The technology became a true digital differentiator during the COVID-19 pandemic and won a coveted award HousingWire 2020 Tech100 Award.
While this end-to-end digital fintech tool has enabled buyers to digitally immerse themselves in their home purchases and avoid the traditional hassles of the in-person closing table, it has also made a significant positive impact on the environment. When processing an entire loan, FlashClose℠ saves borrowers nearly 132 pages of paper, while a hybrid remote deal that uses the tool to complete much but not all of the paperwork saves nearly 50 pages.
Since its inception, FlashClose℠ has been used by companies with guaranteed interest rates to close more than 335,000 loans with a total loan volume of more than 100 billion dollars. The company is pleased to announce this in honor of United Nations World Environment Day June 5ththe FlashClose℠ has helped the environment by saving more than 17 million sheets of paper. It is estimated that one tree produces around 10,000 sheets of paper, meaning that Guaranteed Rate’s end-to-end digital innovation has saved around 1,700 trees.
“We’re incredibly proud that our industry-leading, end-to-end digital tool, FlashClose℠, is delivering such a positive environmental benefit,” he says Ramesh Sarukkai, Chief Product and Technology Officer of Guaranteed Rate. “This is just one example of how our tech team creates fast, simple and innovative fintech tools to improve the lives of our customers.”
About companies with guaranteed prices
Guaranteed Rate Companies is a leading provider of mortgage lending and digital financial services. headquarters in Chicagothe Guaranteed Rate Companies have more than 10,000 employees in over 850 offices across the US serving all 50 states and Washington, D.C Since its inception in 2000, Guaranteed Rate Companies have served more than 1 million homeowners with home purchase loans and refinances, with a total loan history of more than $116 billion in 2021 alone. The company has established itself as an industry leader by introducing innovative technologies, offering low prices and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by US News & World Report; Best Mortgage Originator for Online Loans and Best Mortgage Originator for Refinance by NerdWallet for 2021; HousingWire’s 2020 Tech100 Award for the company’s industry-leading FlashClose℠ technology; Ranked 3rd in the 2021 Scotsman Guide list of top retail mortgage lenders; Chicago Agent Magazine’s Lender of the Year for six consecutive years; and on the Chicago Tribune’s Top Workplaces list for seven consecutive years. Visit rate.com for more information.
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