Premium Mortgage Partners with Gateless to Revolutionize Underwriting and Borrower Experience

Premium Mortgage Partners with Gateless

Premium Mortgage Corporation, a prominent lender located in Rochester, has initiated a strategic investment aimed at modernizing its loan manufacturing process. The company recently announced the adoption of Gateless Smart Underwrite®, a platform designed to significantly enhance efficiency and speed in mortgage processing while ensuring the quality of loans. With this move, Premium Mortgage seeks to leverage advanced artificial intelligence (AI) technologies to improve operations and the overall borrower experience.

As a master servicer for Fannie Mae and Freddie Mac, Premium Mortgage boasts a reputation as the #1 purchase money lender in both Buffalo and Rochester. The organization, which currently manages over $1.4 billion in serviced loans, has emphasized its commitment to exceptional service and technological innovation. Over the next three years, Premium Mortgage plans to invest more than $1 million in real-time underwriting automation, facilitated by its partnership with Gateless.

The deployment of Gateless Smart Underwrite® serves a critical purpose: enhancing the home financing journey for borrowers. By streamlining the underwriting process, Premium Mortgage aims to provide a transparent and efficient service that meets the evolving needs of customers. In addition to partnering with Gateless, the company is collaborating with LenderLogix, a reputable provider of borrower-facing tools that align seamlessly with the new automated architecture.

Mike Donoghue, the CEO of Premium Mortgage, highlights the importance of this modernization. He states, "Our goal is always to provide the fastest, smoothest experience for our borrowers without sacrificing the diligence and quality our industry demands." The incorporation of Gateless Smart Underwrite® transforms the responsibilities of internal teams, enabling underwriters to focus on more complex decision-making while alleviating repetitive manual tasks.

Gateless Smart Underwrite® operates as an expert system, employing AI to automate the review of critical loan documents, third-party data, and the loan application process. This not only accelerates the underwriting timeline but also mitigates repurchase risk and lowers origination costs. By achieving these efficiencies, lenders can offer quicker and more effective home financing solutions that better serve their clients.

Rick Lang, President of Gateless, expresses excitement over the partnership: "Premium Mortgage has always been focused on technological leadership, and we are thrilled they chose Gateless to power their next generation of underwriting. Our platform delivers immediate, verifiable efficiency gains, and our integration with the digital experience provided by LenderLogix enhances their commitment to speed."

The collaboration with LenderLogix is crucial for ensuring an optimal user experience. The tools offered by LenderLogix simplify communication, facilitate document collection, and assist in fee quoting. This integration creates a seamless connection between client engagement and automated underwriting, promising a cohesive and frustration-free borrowing process.

Patrick O'Brien, CEO of LenderLogix, underscores the importance of connectivity and transparency in the future of lending, stating, "This three-way synergy—the high-touch service of Premium Mortgage, the powerful automation of Gateless, and the intuitive digital experience provided by LenderLogix—will set a new standard for the industry."

About Premium Mortgage Corporation

Founded in 1999, Premium Mortgage has steadily established itself as a leader in the home financing sector, dedicated to helping clients secure ideal home loans. Renowned for professionalism, expertise, and integrity, the company offers a wide range of mortgage solutions. It consistently ranks among the top lenders, with offices spread across New York and Florida.

About Gateless, Inc.

Gateless is an innovative mortgage technology firm committed to reshaping the loan origination landscape. By combining deep industry insights with cutting-edge systems, robotic process automation, and AI technology, Gateless is dedicated to simplifying mortgage lending and enhancing the borrower experience.

About LenderLogix

LenderLogix is focused on streamlining the mortgage process through modern technology. By developing tools that enhance communication and engagement between borrowers and loan officers, LenderLogix supports a more efficient loan origination and processing experience.