SunTrust Banks, Inc. announced the launch of its SmartGUIDE Mortgage Application, a digital platform that allows consumers to complete their mortgage application entirely online in half the time of a typical mortgage application.

Using SmartGUIDE, most applicants can complete the SunTrust Mortgage online application in 30 to 40 minutes versus the traditional timeframe of an hour or more. SmartGUIDE pre-populates and validates much of the application, automatically pulling data from documents and bank statements that otherwise would need to be scanned and uploaded manually by the applicant. This creates a paperless process, even letting clients e-sign application documents requiring a signature.

"Applying for a mortgage is an important personal and financial milestone, but too often the complexity and paper-ridden nature of the application process creates added stress," said Todd Chamberlain, head of mortgage banking at SunTrust. "SmartGUIDE empowers clients with a tool that will simplify and accelerate the mortgage application, allowing them to enjoy a new level of transparency, decreasing their stress and increasing their confidence."

SmartGUIDE also enables applicants to chat with loan officers at any point during the application process, as well as to log in to check the status of a completed application. This access to information and real-time support reduces the back-and-forth communication between applicants and loan officers that often delays the application process. 

"In addition to offering speed and convenience, SmartGUIDE makes the mortgage application process easier for consumers to follow and understand," said Ken Meyer, chief technology officer for consumer banking at SunTrust. "On the occasion that a document does not automatically populate, clients can easily snap a picture and upload it using any mobile device."