1. How do you determine real-world financial behaviors for underwriting purposes, and how is this different from traditional models?

Rate Portfolio takes a flexible, big-picture approach that provides a better understanding of a borrower’s actual income situation.  Credit history still matters, of course, but instead of relying strictly on tax returns or W2s, we look at real cash flow – whether from their business or investment property.  This provides a more comprehensive view of someone’s financial life, particularly for those with non-traditional income streams. This approach better assesses the borrower’s ability to repay, keeping underwriting inclusive and fact-based while balancing opportunities with risk. 

2. How are you adapting your lending criteria to better serve gig economy workers, freelancers, and entrepreneurs?

About one in three U.S. workers earn income through gig or freelance work, and Rate’s adapting to meet their needs.  Instead of relying just on W-2s or tax returns, Rate Portfolio looks at things like bank statements and 1099s that give us a clearer view of their actual cash flow – even if their income isn’t the same every month.  By taking this broader approach, we can help more qualified self-employed and freelance borrowers achieve homeownership.

3. How do you empower borrowers who are asset-rich but have limited traditional income documentation?

For borrowers who may not have steady income but have considerable assets, Rate’s created a few asset-based mortgage programs.  Instead of focusing solely on income or cash flow, we can look at liquid assets like stocks or retirement accounts to supplement income or to use as the sole source of qualification. This allows us to qualify borrowers who clearly have the financial capacity to repay a loan, even without regular or even non-traditional income.  It’s commonsense eligibility that allows borrowers the freedom to keep their assets in higher-yielding investments.

4. What role do you see non-contingent financing options playing in reshaping competitive offer strategies?

We’re seeing a rise in non-contingent financing options that are reshaping how buyers structure their offers – making them stronger and more cash-like without requiring asset liquidation or selling a current home.  The reduced uncertainty makes them more attractive for sellers, and buyers benefit from more accepted offers and faster closings.  It’s also a win for lenders like Rate, as we’re given an opportunity to innovate bridge financing tools and help our customers land their dream home.  Ultimately, though, non-contingent financing helps level the playing field for buyers competing against all-cash offers.

5. How do you ensure compliant underwriting practices while offering more flexibility than conventional mortgage products?

At Rate, we combine industry-leading technology with rigorous underwriting protocols to meet ability-to-repay requirements while expanding access to credit. Our digital underwriting and processing systems enable smarter, faster assessments using data-rich insights and flexible documentation options, helping us serve more borrowers without compromising on risk oversight. We tailor criteria to reflect real-world income patterns and financial profiles, particularly for self-employed or non-traditional applicants, while maintaining strong credit performance across the board.

This balance of innovation and discipline allows Rate to responsibly expand homeownership opportunities, delivering flexible solutions that meet the needs of today’s diverse borrowers, without ever losing sight of compliance and long-term loan performance.