Mortgage Solutions, LLC Streamlines Income Verification with Gateless VeriClear™

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Nov 19, 2024, 15:07 ET

CHICAGO, Nov. 19, 2024 /PRNewswire/ -- Gateless, Inc. announced today that Mortgage Solutions, LLC, a leading mortgage lender focused on exceptional customer service, has adopted Gateless' VeriClear™ product, a revolutionary income verification and analysis solution. Powered by intelligent automation and digitized borrower income documents, VeriClear™ offers significant benefits to Mortgage Solutions and its borrowers, including real-time early income assessment.

VeriClear™ automates the extraction and analysis of income data from W-2s and paystubs, eliminating the need for manual data entry. In addition to efficiency gains, VeriClear™ ensures superior accuracy by minimizing the risk of human error in income data entry, resulting in faster loan approvals for borrowers and increased confidence for investors.

A key advantage of Gateless VeriClear™ is its integration with Freddie Mac's AIM Check API. This connection enables Gateless' intelligent automation to provide lenders with early income assessments from Loan Product Advisor^®(LPA^SM), offering real-time income calculations, increased efficiency, a faster borrower experience, and greater lender certainty. VeriClear reports support LPA's assessment for income calculation representation and warranty (R&W) relief eligibility and R&W relief eligibility on the borrower's current employment.

"The automation provided by Gateless VeriClear™ has significantly streamlined our income verification process," said Christopher Smith, Director of Mortgage at Mortgage Solutions. "We've seen a reduction in processing time and staff workload, allowing us to focus on delivering an exceptional experience for our borrowers."

"We're thrilled that Mortgage Solutions has recognized the value of Gateless VeriClear™," said Rick Lang, President and COO of Gateless. "This innovative solution exemplifies our commitment to transforming the mortgage origination process through intelligent automation, while driving cost savings."

About Mortgage Solutions, LLC

Mortgage Solutions is a premier home loan lender in Missouri, Illinois, Kansas, Arkansas, and Oklahoma areas. Their team of mortgage professionals has over 100 years of combined experience to offer our clients the highest level of expertise and personal attention. For more information, visit www.mortgagesolutions.mymortgage-online.com/.

About Gateless, Inc.

Gateless simplifies mortgage lending through intelligent automation of key processes and decisions. By automating underwriting using AI and driving real-time actions and outcomes across a lender's platform, Gateless addresses the challenges facing today's mortgage industry. Their solutions, such as VeriClear™ and Smart Underwrite^®, focus on delivering the right technology to solve the right problems. Gateless is also recognized as a HousingWire Top 100 Tech Winner. Learn more at gateless.com, or contact [email protected] to schedule a demo.

SOURCE Gateless