CHICAGO, Nov. 19, 2015 (GLOBE NEWSWIRE) -- Guaranteed Rate, the eighth largest retail mortgage lender in the nation and an industry technology leader, announced its continued delivery of efficient and transparent closings compliant with the new TRID regulations, implemented by the Consumer Financial Protection Bureau.
TRID's implementation has the homebuyer in mind primarily with increased transparency in closing times and loan costs, commonly called the "Know Before You Owe" initiative. Guaranteed Rate recently launched the world's first Digital Mortgage and its increased convenience has helped homeowners close their loans in 30 days or less.
"Our Digital Mortgage was successfully put to the test with the new TRID regulations," said Victor Ciardelli, president and CEO of Guaranteed Rate. "We were ready for the TRID implementation and it has not slowed us down at all. Our loan officers have continued to close loans in less than 30 days."
Following TRID's implementation on Oct. 3, the closing process changed to increase transparency for consumers, such as receiving information three business days in advance of closing, more uniform disclosure of costs, and easier to compare early disclosure and closing disclosures. The digital communication platform offered by Guaranteed Rate helps manage the pre-closing communication, coupled with secure technology from DocuSign, Box and Optimal Blue.
More About Guaranteed Rate
Guaranteed Rate is the eighth largest retail mortgage lender in the United States. The company has become The Home Purchase Experts® by introducing the world's first Digital Mortgage and offering low rate, low fee mortgages through an easy-to-understand process and unparalleled customer service. Headquartered in Chicago with approximately 175 offices across the U.S. and licensed in all 50 states, Guaranteed Rate has helped hundreds of thousands of homeowners with approximately $80 billion in home purchase loans and refinances since 2000 and $10 billion in 2015 alone. Guaranteed Rate was ranked No. 1 in Scotsman Guide'sTop Mortgage Lenders 2014 honors and was named one of Chicago's Top Workplaces by the Chicago Tribune in four of the past five years. In 2015, Guaranteed Rate won the Chicago's Coolest Company award by ChicagoInno and was recognized as one of Inc. 5000's Fastest Growing Companies in America. Visit guaranteedrate.com for more information.
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Source: Guaranteed Rate