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Industry October 25, 2024

Victor Ciardelli says Rate’s new $100M AI mortgage platform will solve ‘persistent customer challenges’

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Victor CiardelliOct. 23, 2024 /HousingWire/—CEO says technology reduces approval times from ‘weeks to just minutes’ and saves $900 to $1,200 per loan

Chicago-based Rate was the eighth-largest mortgage lender in the country during the first half of 2024, according to estimates from Inside Mortgage Finance. On Wednesday, the company implicitly announced its intentions to grow its market share by launching Rate Intelligence, an artificial intelligence-driven lending platform.

In its announcement, the company explained that Rate Intelligence has been working behind the scenes for the past two years to help originate billions of dollars in loans. Through employee feedback and work with its technology partners, Rate has optimized the platform and is ready for a broader marketing push to consumers.

In an email interview with HousingWire News Editor Neil Pierson, Rate president and CEO Victor Ciardelli offered more details about the work that went into the platform, along with its role in making the mortgage process more efficient for borrowers and mortgage professionals alike.

Read entire interview here.
Email info@gateless.com to learn more.

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