LoanBeam and Rate Expand Partnership to Include Guaranteed Rate Affinity

LoanBeam®, the leader in automated income extraction and calculation, and Rate, one of the largest retail mortgage lenders in the country, announced that it has expanded its long-term relationship to include the recently created Guaranteed Rate Affinity -- a joint venture between Rate and Realogy.

LoanBeam’s technology has combined digital integrations, investor calculations, and refined an Optical Character Recognition (OCR) to read, interpret, and calculate income accurately – the first time – directly from the borrower’s income documents.

“Rate has leveraged LoanBeam to become an industry leader in automated income calculation. We believe that Rate’s continued endorsement of LoanBeam’s income technology speaks volumes to its usefulness as a digital mortgage technology. We are thankful to have the longstanding relationship with a market influencer such as Rate and look forward to extending it into their recent acquisition,” said LoanBeam’s President, Kirk Donaldson.

“LoanBeam’s unique technology has been a huge asset to Rate so it only made sense to bring the same benefits to Guaranteed Rate Affinity, our newly formed joint venture with Realogy,” says Rate Chief Operating Officer Nikolaos Athanasiou. “Cutting-edge technology is absolutely critical to provide our borrowers with the very best customer experience and LoanBeam is one of our technology solutions that helps to make our company so successful.”