Credible.com Unveils First Truly Consumer-Centric Mortgage Marketplace
10 Outubro 2018 - 8:30AM
Business Wire
Safely Shop Actual
Rates From Top Lenders in 3 Minutes, and Close on the Same
Platform
Credible.com, the leading online loan marketplace, announces the
launch of its first-of-its-kind mortgage marketplace. Credible.com
is the only mortgage marketplace that provides actual rates from
top lenders in 3 minutes (without affecting a borrower’s credit
score), and a streamlined digital origination process. The platform
is designed to save borrowers frustration, time and money.
The Credible.com mortgage marketplace builds on the success of
the company's marketplaces for student loans, student loan
refinancing, and personal loans, which have facilitated more than
$1.6 billion in loans to date. The first product offered through
the mortgage marketplace is mortgage refinancing, which went live
today in 20 states that collectively represent 65 percent of
mortgage originations.
"From the beginning, Credible’s mission has been to help people
make better borrowing decisions by simplifying the shopping and
origination experience,” said Credible founder and CEO Stephen
Dash. “We set the standard in the student loan industry, saving
borrowers tens of millions of dollars and many hours of
frustration. Today we are proud to announce that we are leveraging
that same technology to help people make better borrowing decisions
when it comes to their largest borrowing obligation, their
mortgage.”
Credible.com mortgage marketplace highlights:
- Actual rates in 3 minutes: The
first platform to provide actual rates from multiple lenders (not
rate ranges, or estimates), without impacting a borrower’s credit
score
- Seamless origination: Credible’s
technology automates much of the origination process, so borrowers
can close their chosen loan without leaving the Credible.com
marketplace
- Top lenders: At launch, Credible
is partnered with five lenders including Quicken Loans and United
Wholesale Mortgage, to offer a diverse range of mortgage
products
It Pays to Compare Rates Given Continued Demand For Mortgage
Refinancing
Even though interest rates are rising, over 2 million Americans
are expected to refinance $543 billion in mortgages between now and
the end of 2019. That's equal to half the total outstanding credit
card debt and a third of all student loan debt in the U.S.
Homeowners often refinance to tap equity they’ve built in their
homes to pay for major expenses like home improvement, or to
convert adjustable-rate mortgage (ARM) loans into fixed-rate
loans.
Comparing mortgage rates can save borrowers tens of thousands of
dollars. But because the process has traditionally been so tedious,
three out of four borrowers only get actual rates from one lender,
which often translates to paying too much interest.
At the same time, traditional comparison sites often treat
borrowers as leads that are harvested and sold to lenders. And
because they ignore the intricacies of lender underwriting models,
these sites often provide inaccurate teaser rates or
ballpark estimates.
A Painless, Automated Origination Process with A Human
Touch
Refinancing your home no longer needs to be painful and
overwhelming.
In addition to providing actual rates in 3 minutes, Credible.com
uses smart logic to simplify the origination process by asking only
questions relevant to each borrower and requesting only documents
needed for their unique situation and loan. The platform automates
the collection of required documentation such as pay records, bank
statements and tax documents, making the application process easier
and faster than a traditional mortgage refinancing. Licensed loan
officers are also available for those who need additional
support.
Credible’s mortgage marketplace is available in the following
states: California, Colorado, Florida, Georgia, Illinois, Iowa,
Kansas, Maine, Maryland, Minnesota, New Jersey, North Carolina,
North Dakota, Oregon, Pennsylvania, Tennessee, Vermont, Virginia,
Wisconsin, and Washington D.C.
"Choosing the right mortgage is one of the most important
decisions homeowners make,” said Dash. “We're excited to help
people save time and money, and ultimately give them peace of
mind.”
About Credible
As a marketplace that empowers consumers to discover financial
products and services that are the best fit for their unique
circumstances, Credible.com is fiercely independent and committed
to delivering fair and unbiased borrowing solutions for
millennials. Credible’s integrations with lenders and credit
bureaus allow consumers to access actual rates in 3 minutes,
without sharing their information until they’re ready to proceed
with a specific lender. The Credible.com marketplace provides an
unrivaled customer experience, as reflected by over 1,500 positive
Trustpilot reviews and a TrustScore of 9.5/10. Credible (CRD.ASX)
is listed on the Australian Securities Exchange (ASX).
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version on businesswire.com: https://www.businesswire.com/news/home/20181010005193/en/
CredibleAlan Gellman, 415-894-9219press@credible.com
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