Allied Mortgage Group, an equal housing lender with headquarters in suburban Philadelphia and licensed in 37 states, is now using the Smart Underwrite solution from Gateless, a mortgage technology company focused on transforming the mortgage origination process using real-time, intelligent automation.
Smart Underwrite offers real-time automation of critical processing and underwriting functions, such as the evaluation of credit, income, and asset information, immediately upon receipt.
Gateless says it is enabling the dream of immediate loan approvals.
Smart Underwrite performs its evaluations, and makes required decisions, using knowledge akin to that of a lender’s most seasoned underwriters, but with a level speed and accuracy only possible with the application of artificial intelligence, the company claims.
Since its inception, Smart Underwrite has helped Gateless clients perform 500,000 underwriting reviews, with over 70% of the required data integrity checks and underwriting conditions cleared by the time files land in underwriter queues.
The result: true exception-based processing, with processors and/or underwriters focused on managing the remaining 30%. And, with every passing day, the intelligence gets smarter, meaning more automated completion, less exception-handling, and even greater cost savings.
“Allied is thrilled to have a capability we deem essential for thriving in today’s competitive market,” says Todd Burton, director of process development, Allied, in a release. “This newfound level of automation will allow us to push the boundaries of innovation beyond workforce efficiency, enabling us to drive a better, faster consumer experience.
“Since signing on with Gateless, as a Smart Underwrite early development partner, having kicked the tires on more than 10,000 loans, we’re confident in both product’s capabilities and our expected ROI,” Burton adds.
“We love having the opportunity to collaborate with innovative and committed lenders, such as Allied,” adds David Fulford, chief client officer for Gateless. “Their product feedback has been unbelievably insightful, adding tremendous value to the evolution of Smart Underwrite. Allied’s selection of Gateless reinforces their dedication to building a streamlined manufacturing process and unparalleled borrower experience.”