Guaranteed Rate partners with Notarize to enable fully digital mortgage closings
Over one year ago, Guaranteed Rate announced the launch of FlashClose, an eMortgage technology that, according to the company, took closing times down to as little as 10 minutes.
At the time, FlashClose was powered by DocMagic.
Now, Guaranteed Rate is partnering with Notarize, an online service that allows signers to electronically review, sign and notarize documents.
According to Guaranteed Rate, the new partnership enables the company to expand its offering “with both hybrid and full eClose for borrowers within a more robust platform.”
This new partnership was announced late last week with the news that FlashClose is now optimized for mobile, allowing borrowers to close from anywhere (provided they have an internet-connected device.)
According to the company, its aim is to achieve record-setting times for closings.
“Our vision at Guaranteed Rate is to deliver a simple, best-in-class homebuying experience for every generation,” said Guaranteed Rate Chief Operating Officer Nikolaos Athanasiou. “We are thrilled to announce our enhancements to FlashClose, which puts even more power in the hands of homebuyers—wherever and however they want to close.”
The company is accomplishing this through its partnership with Notarize, a digital platform that allows for legal, online document notarization. The company has also positioned itself to be at the forefront of what is becoming a nationwide movement towards online notarizations.
“Our vision is to empower anyone to walk into a home they love, and buy it on their terms—even same day,” said Adam Pase, co-founder and chief strategy officer of Notarize. “Guaranteed Rate shares our passion for excellence and boasts a reputation as one of the most tech-forward lenders in the country. We’re excited to partner with Guaranteed Rate to be first to market with a fully digital real estate experience.”
This news comes on the heels of Blend, a digital mortgage tech provider, announcing its offering of a “one-tap” mortgage pre-approval. The new software, according to the company, gives borrowers “instant access to verified buying power and the ability to easily generate a pre-approval letter.”
Also in the news last month, the National Association of Realtors reported that three-quarters of buyers found their homes on their phones. With FlashClose now optimized for mobile users, it looks like homebuyers may be one step closer to completing the entire home buying process without ever looking up.