Quicken Loans has released an 8- minute online full mortgage approval with Rocket Mortgage which gives power to both house buyers and home owners to customize the entire mortgage process beginning from application up to the closing.
According to prnewswire.com, Quicken Loans team have worked three years to redevelop and consolidate the complex mortgage process in their Rocket Mortgage. More than 500 Detroit- based developers business analysts, QA technicians and designers have worked together to Rocket Mortgage the ability carry out a full mortgage approval process.
Bill Emerson, Quicken Loans Chief Executive Officer, said "Quicken Loans has been the clear leader in mortgage technology for almost two decades. We changed the mortgage industry when we created the first 50-state online retail lending platform that has since helped millions of Americans achieve their home financing goals, while experiencing the best client service in the nation. Today, we took another monumental leap forward with the launch of Rocket Mortgage, which brings simplicity and clarity to the home loan process like never before, while delivering solutions at unimaginable speed."
Linglong He, Quicken Loans Chief Information Officer, also added "Rocket Mortgage simplifies the largest, most complex and important financial transaction most consumers experience in their lifetime. Our team at QL Labs has worked tirelessly to ensure that Rocket Mortgage users have the same award-winning experience that has made Quicken Loans an eight-time J.D. Power top-rated mortgage lender for client satisfaction. This is one of the biggest breakthroughs in financial technology history, born and built in downtown Detroit," added He. "The team effort to get this off the ground was extraordinary."
In a report by techcrunch.com, Rocket Mortgage uses a real- time information of the prices, fees on the properties in the market. After filling up all the necessary information the user can determine if their mortgage application is approved or denied with the same accuracy the user can get if he or she applied through a loan officer.
Also, Rocket Mortgage provides information and allows potential buyers to check the rates and different options.
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