SnapFlood Partners with Guaranteed Rate to Deliver Advanced Flood Determination Solutions
La Jolla, June 13, 2023 – SnapFlood.com, a leading provider of innovative flood determination technology, is proud to announce its partnership with industry giant Guaranteed Rate. The collaboration marks a significant milestone for SnapFlood as it expands its footprint in the mortgage industry, providing cutting-edge flood determination solutions to streamline loan processing and enhance risk management.
“Speed, accuracy, and precision are essential elements of the service we deliver for our customers,” said Guaranteed Rate President and Chief Executive Officer, Victor Ciardelli. “When customers find the house they want to buy, we need to fully evaluate a listing to ensure the offer is at true market value, accounting for all risk factors. SnapFlood provides a wealth of information in an instant, with predictive analytics in place to ensure our customers make informed decisions with their house selection, offer, financing, and insurance.”
Guaranteed Rate, one of the largest retail mortgage lenders in the United States selected SnapFlood's flood determination platform to bolster their mortgage origination processes. By integrating SnapFlood's advanced technology, these esteemed organizations aim to mitigate flood-related risks, expedite loan processing, and ensure compliance with regulatory requirements.
“The sophisticated market insights SnapFlood delivers in an instant to Guaranteed Rate customers are game changing,” said Victor Ciardelli III, Founder and CEO of Guaranteed Rate. “We transformed the industry in 2015 when we launched the world's first entirely digital mortgage. Now, with SnapFlood integration, we have instant, predictive climate and location analytics in place to ensure our customers make informed decisions with their house selection, offer, financing, and insurance.”
SnapFlood's flood determination platform combines advanced geospatial data analysis, predictive modeling, and real-time flood monitoring to deliver accurate and comprehensive flood risk assessments. By leveraging powerful algorithms and machine learning capabilities, SnapFlood's solution empowers mortgage lenders to make informed decisions quickly, assess property-specific flood risks, and determine appropriate insurance coverage, all while enhancing the customer experience.
Benefits of SnapFlood's flood determination platform for Guaranteed Rate include:
- Accurate and Efficient Flood Assessments: SnapFlood's advanced algorithms process vast amounts of data, providing highly accurate flood determinations in real time. This helps lenders make informed decisions about loan origination, ensuring appropriate risk mitigation measures are in place.
- Streamlined Workflow Integration: SnapFlood's flood determination platform seamlessly integrates with Encompass, Black Knight MSP, and direct API connection, enabling a frictionless workflow for loan officers and underwriters, saving time and reducing manual errors.
- Regulatory Compliance: With SnapFlood, Guaranteed Rate can ensure compliance with federal flood insurance regulations, avoiding penalties and mitigating risk.
- Enhanced Customer Experience: By providing quick and accurate flood risk assessments, SnapFlood's platform offers borrowers peace of mind while enhancing the overall loan application experience.
"We are delighted to partner with Guaranteed Rate, an industry leader committed to delivering exceptional mortgage services," said Will Caldwell, CEO of SnapFlood. "Our flood determination platform is designed to provide lenders with advanced technology solutions to streamline their operations, manage risk effectively, and enhance customer satisfaction. This partnership is a testament to the value and credibility of SnapFlood's flood determination technology in the mortgage industry."
SnapFlood's flood determination platform has gained recognition for its accuracy, efficiency, and advanced capabilities. The collaboration with Guaranteed Rate further solidifies SnapFlood's position as a trusted provider of innovative flood determination solutions.
About SnapFlood:
SnapFlood is a leading provider of advanced flood determination solutions for the mortgage industry. Through its cutting-edge technology and data analytics, SnapFlood empowers lenders to make informed decisions, streamline loan processing, and mitigate flood-related risks. The company's flood determination platform is renowned for its accuracy, efficiency, and ease of integration. To learn more about SnapFlood, please visit www.snapflood.com.
About Guaranteed Rate
Guaranteed Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, the Guaranteed Rate Companies have over 850 branches across the U.S., serving all 50 states and Washington, D.C. Since its launch in 2000, Guaranteed Rate Companies have helped more than 1 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by U.S. News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; HousingWire’s Tech100 award for the company’s industry-leading FlashClose℠ in 2020, digital mortgage platform MyAccount in 2022, and Language Access Program in 2023; No. 2 ranking in Scotsman Guide’s 2022 list of Top Retail Mortgage Lenders; The most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine’s Lender of the Year for seven consecutive years; and Chicago Tribune’s Top Workplaces list for seven consecutive years. Visit rate.com for more information.