CHICAGO (April 14, 2022) —Gateless, a visionary technology company providing the mortgage industry with intelligent automation, announces it has integrated Freddie Mac Loan Product Advisor® (LPASM) into its Gateless Smart UnderwriteTM solution. This integration will enable Gateless Smart UnderwriteTM to take immediate advantage of policy changes and/or new product features introduced by Freddie Mac, enhancing automation for all Gateless customers.
Gateless offers next-generation technology to the mortgage industry through its suite of proprietary products, including Gateless Smart UnderwriteTM. This industry-leading service leverages Artificial Intelligence (AI) and Machine Learning (ML) to identify and clear underwriting conditions, automate data quality checks, and meet other requirements needed to underwrite, close and ultimately sell a loan. Smart UnderwriteTM can eliminate 10-15 days in unnecessary loan manufacturing time, drastically reducing the cost to originate a loan, while delighting borrowers in the process.
“Gateless is on a mission to simplify lending through intelligent automation, and collaboration with partners like Freddie Mac will make that vision a reality,” says Rick Lang, Chief Operating Officer at Gateless.
“Gateless brings a unique perspective to solving mortgage lending’s biggest challenges so our shared clients can more effectively take advantage of our automated solutions, helping them streamline loan origination and reduce risk,” said Kevin Kauffman, Freddie Mac Single-Family Vice President of Client & Partner Delivery.
Gateless was launched in March 2021 to bring the industry next-generation loan processes by eliminating limitations. The company’s award-winning suite of AI Mortgage technology is designed to accelerate the loan origination process, which can save lenders more than 10 days from application to full approval.
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Gateless, an innovative mortgage technology company, combines veteran industry expertise with Artificial Intelligence (AI) to create real, proven solutions that span the entire mortgage process. Founded by Guaranteed Rate President and CEO Victor Ciardelli, the company was formed when Guaranteed Rate acquired AI Foundry, a business unit of Kodak Alaris. The solutions provided by Gateless incorporate the latest in AI with patent-pending machine learning and machine-vision technology that help automate the mortgage process, increase productivity and lower costs.