What is RateGator?
We are the world’s first auction-style mortgage marketplace where borrowers, not banks, set the rate they want to pay. Think of us as the StubHub for mortgages.
Absolutely nothing. The service is free for borrowers.
When you put your offer on RateGator, lenders have the option to either accept your offer or – if multiple lenders are interested in working with you – submit a counteroffer with better terms. By using market forces similar to those seen at a traditional auction, RateGator’s marketplace drives down interest rates by making lenders lower their rates for the best chance to win the auction. This ensures that you only get in contact with the loan officer that is willing to offer the best rate and terms.
No. RateGator is not a mortgage lender, but many lenders use our site.
When loan officers see your profile on our platform, we remove an information (like your name, email address, and zip code) that could be used to identify your racial, ethnic, religious background, or country of origin. This ensures that loan officers are only able to consider the financial information that matters when determining whether to accept your offer – greatly decreasing the possibility that a loan officer might consciously or subconsciously discriminate on the basis of race, ethnicity, country of origin, religious background, or redline based which neighborhood you live in.
RateGator is an online mortgage marketplace - think about us like the StubHub for mortgages. Unlike LendingTree and similar lead generation websites, RateGator does not sell your information to multiple lenders and third party lead brokers who then call and email you repeatedly each day. We believe that it is important to protect your information. Consequently, you can expect to only be contacted by one lender; the one that is offering you the best rate.
Shortly after building your profile, one of our account representatives will contact you to ensure the accuracy of your information. Your anonymous profile and offer will then be placed onto our mortgage marketplace where it will be seen by lenders can bid to give you the best rate.
How long does it usually take for my offer to be accepted?
You are under no obligation from RateGator to accept a loan offer that is presented to you.
If your offer is not accepted, we will notify you as soon as possible to give you the option to remain in the marketplace. You may return to your profile and update your information at any time. We are always adding new lenders to our platform that may be able to meet your needs.
At this time, the RateGator platform is only available for those looking to purchase within the United States.
Yes. We strive to include only the best loan officers on our platform. Prior to becoming an approved lender, all loan officers must go through a screening process.
To request an application, please send an inquiry to firstname.lastname@example.org. Please include your name, phone number, and NMLS ID.
We are always looking for fresh new talent. Drop us a line at email@example.com.
For technical support, contact your account representative directly or email us at firstname.lastname@example.org.
We take your privacy very seriously, which is why we make your profile anonymous until your offer is accepted by a loan officer.
Your anonymous profile is only viewable by our approved lenders. Once your offer is accepted, only the loan officer with the best rate and terms will be able to view your full profile.
We are currently working on making the website experience as solid as possible. After the website is rocking and rolling, we will be looking to move into other platforms.
1. ACCEPTING THE SERVICE TERMS AND CHANGES TO THE SERVICE TERMS
By accessing or using the Services, you are agreeing to these Service Terms and entering into a legally binding agreement with us. If you do not agree to the Service Terms you may not use the Services or create an account.
As our business grows and improves, we may from time to time change these Service Terms and will post a revised copy on this page. We encourage you to check regularly for any updates. If we make any material changes to these Service Terms, we will notify you via email or on the Services as appropriate. Otherwise, your continued use of the Services following such changes will constitute your acceptance of the new terms.
By using the Services, you are agreeing to be legally bound by this agreement, including the binding arbitration clause contained below. We may make changes to this agreement from time to time, so be sure to check this page regularly.
2. PERMISSIBLE USE
You agree to use the Services for your personal use. Without limitation, lending professionals and institutions are expressly prohibited from using information provided by RateGator through the Services in making any lending decisions. Subject to the restrictions set forth in the following paragraphs, you may copy information from the Services only as necessary for your personal use to view, save, print, fax and/or e-mail such information. You agree otherwise not to reproduce, modify, distribute, display or otherwise provide access to, create derivative works from, decompile, disassemble or reverse engineer any portion of the Services.
3. RESTRICTIONS AND ADDITIONAL TERMS
You agree not to remove or modify any copyright or other intellectual property notices that appear in the Services. You will not use the Services for resale, service bureau, time-sharing or other similar purposes. Further.
b. Automated Queries. Automated queries (including screen and database scraping, spiders, robots, crawlers and any other automated activity with the purpose of obtaining information from the Services) are strictly prohibited on the Services, unless you have received express written permission from RateGator. As a limited exception, publicly available search engines and similar internet navigation tools ("Search Engines") may query the Services and provide an index with links to the Services' web pages, only to the extent such unlicensed fair use is allowed by applicable copyright law. Search Engines are not permitted to query or search information protected by a search verification system ("captcha") which limits access to human users.
c. Calls and Direct Marketing Materials. If you, as a consumer, choose to contact a lender, real estate agent, or any other professional through the Services by filling out a contact request, other request form on RateGator, entering your information into our website or mobile application, downloading our mobile application, using our Services or otherwise indicating your consent, you authorize RateGator to provide your name and contact information and other identifying information you provide to any third party, including lenders, real estate agents and our other partners. Further, if you request pre-approval from a lender in connection with your contact with us, you authorize RateGator to provide your name and contact information and other identifying information you provide to the participating lender. You acknowledge that, by submitting your contact request or other request form on RateGator, by electing to request pre-approval, or by using the Services, you are giving your consent to receive telemarketing calls, direct marketing materials, electronic communications, short message service (SMS) communications, e-mail advertisements, and advertisements by other electronic means from or on behalf of the lender, real estate agent, RateGator, or other third parties at the telephone number(s) and/or e-mail address(es) you provide.
d. Materials You Provide; Account Use; Privacy; Third Party Websites. For materials you post or otherwise provide to RateGator in connection with the Services (you "Submission"), you grant RateGator an irrevocable, perpetual, royalty-free worldwide license to (a) use, copy, distribute, transmit, publicly display, publicly perform, reproduce, edit, modify, prepare derivative works of or incorporate into other works, and translate your Submission, in connection with the Services or in any other media, and (b) sublicense or assign these rights, to the maximum extent permitted by applicable law. RateGator will not pay you for your Submission or to exercise any rights related to your Submission set forth in the preceding sentence. RateGator may remove or modify your Submission at any time. For each Submission, you agree to provide accurate and complete information and represent that you have all rights necessary to grant RateGator the rights in this paragraph and that the Submission complies with Section 2(a) above. You are solely responsible for all Submissions made through your RateGator account or that you otherwise make available through the Services.
f. The Role of RateGator. RateGator does not broker lender or real estate transactions. RateGator does not act as a real estate agent for you or any other user. RateGator does not sell, buy, or negotiate the purchase, sale, or exchange of real property. RateGator does not provide loans, offer to provide loans, or negotiate loans. Further, RateGator does not lease or rent, offer to lease or rent, or negotiate the lease of real property or otherwise aid or assist in the lease of real property.
g. Mortgage Information Services. These terms apply to RateGator's mortgage services:
i. RateGator. RateGator allows consumers to provide information to banks, lenders, originators, loan brokers and their employees (collectively, the "Lenders") to request quotes on terms for home loans. Lenders may elect to respond to consumer requests with non-binding customized quotes of the terms they would offer to a borrower fitting the consumer's profile, as well as their contact information. These non-binding quotes are not intended to be Good Faith Estimates as defined in the Real Estate Settlement Procedures Act. RateGator also allows consumers to request that Lenders pre-approve them for home loans. When consumers submit the required information and request pre-approval from a participating Lender, Lenders may elect to respond based on parameters established by the Lender. Qualification for pre-approval does not constitute an offer to lend, a commitment for a loan, or a guarantee of specific rates or terms. If you, as a consumer, choose to contact a Lender through RateGator by filling out a contact request or other form on RateGator, or otherwise using the Services, you authorize RateGator to provide your name and contact information and other identifying information you provide to the Lender or other third party, along with your quote or pre-approval request. You acknowledge that, by submitting your contact request or other request form on RateGator, or by using the Services, you may receive telemarketing calls from or on behalf of the Lender, RateGator, or other third party at the telephone number(s) you provide. You also acknowledge that, by submitting your contact request or other request form on RateGator, or by using the Services, you may receive direct response e-mail marketing materials at the e-mail address or addresses you provide. By submitting your name, contact information and other identifying information, your identity will no longer be anonymous. Any loan or other business conduct is between you and the Lender.
ii. The Role of RateGator; Disclaimer. RateGator is not a Lender, mortgage broker, loan originator, loan processor, or underwriter. RateGator does not aid or assist borrowers in obtaining loans, solicit borrowers or Lenders for loans, offer or negotiate terms of loans, or make loans or credit decisions in connection with loans. RateGator does not take applications for credit or issue pre-approval letters. Any request for quotes or pre-approval is not an application for credit. RateGator does not endorse or recommend the products of any particular Lender. Nothing contained in the Services is an offer to lend or a commitment for a loan, and RateGator does not guarantee any specific loan terms and conditions offered to consumers by a Lender will be granted, or that consumers will be offered any type of loan by any Lender. RateGator is only providing an administrative service to consumers and participating Lenders. Decisions regarding pre-approval requests are made by participating Lenders and not RateGator. RateGator assumes no responsibility for any result or consequence related directly or indirectly to any action or inaction that consumers take based on the Services, including the rategator.com website, and any other information available there. Interest rates provided through the Services are for information purposes only, and actual interest rates may vary.
iii. Fees. The RateGator website is free for consumers.
iv. Participating Lenders. The Lenders participating on RateGator are solely responsible for their services to consumers. RateGator shall not be liable for any damages or costs of any type arising out of or in any way connected with any consumer's use of the RateGator website, application, or the services offered by Lenders. RateGator is not responsible for any errors or delays caused by consumers or any Lenders in the loan process. RateGator reserves the right, at any time and in its sole discretion, to discontinue, suspend, or terminate the participation of any Lender or other user from RateGator. When an individual Lender applies for RateGator, RateGator uses commercially reasonable efforts to confirm the Lender's license (in the states claimed by the Lender) and/or employment with a lending institution. However, consumers should confirm credentials if they choose to contact the Lender.
h. Linked Materials and Third-Party Material The Services may include links to third-party products, services and websites, as well as materials provided by third parties. RateGator does not endorse, and takes no responsibility for such products, services, websites, and materials. You understand that RateGator has no obligation to, and generally does not, approve or monitor materials provided by third parties through the Services. Your dealings with any third party arising in connection with the Services are solely between you and such third party, and RateGator takes no responsibility for any damages or costs of any type arising out of or in any way connected with your dealings with these third parties.
i. Claims of Copyright Infringement. RateGator respects the intellectual property rights of others, and asks that everyone using the Services do the same. If you believe your copyright or the copyright of a person on whose behalf you are authorized to act has been infringed, you may notify RateGator's copyright agent in accordance with Title 17, United States Code, Section 512(c)(2), by providing the following information:
i. Identifying the copyrighted work that you claim has been infringed, or - if multiple copyrighted works are covered by this Notice - you may provide a representative list of the copyrighted works that you claim have been infringed.
ii. Identify the material that you claim is infringing (or to be the subject of infringing activity) and that is to be removed or access to which is to be disabled, and information reasonably sufficient to permit us to locate the material, including (if the Content is on our website) the URL of the link shown on the website where such material may be found.
iii. Include your mailing address, telephone number, and, if available, email address, so that the copyright agent may contact you about your complaint.
iv. Make a signed statement that the above information is accurate (this statement must include your full legal name and your electronic or physical signature); that you have a good faith belief that the identified use of the material is not authorized by the copyright owner, its agent, or the law; and, under penalty of perjury, that you are the copyright owner or are authorized to act on the copyright owner's behalf in this situation.
Notices of copyright infringement claims should be sent as follows:
405 Lexington Avenue 26th Floor
New York City, NY, 10174
Attention: Copyright Agent
By e-mail: email@example.com
If you give notice of copyright infringement by text e-mail, RateGator's copyright agent may begin investigating the alleged copyright infringement; however, we must receive your signed statement by mail or as an attachment to your e-mail before we are required to take any action.
j. Intellectual Property. The Services (including the selection, compilation, arrangement, and presentation of all materials and the websites, tools, and applications) are the property of RateGator, and subject to the intellectual property rights of RateGator and its licensors under United States and international law. You agree to abide by all applicable copyright laws, as well as copyright notices or restrictions posted on the Services, and you acknowledge that use of our content without our express prior written permission is strictly prohibited.
You may not use any of our trademarks, trade names, service marks, copyrights, or logos in any manner which creates the impression that such items belong to or are associated with you, unless you have our written consent, and you acknowledge that you have no ownership rights in or to any of such items. The names of actual companies, products, and services mentioned herein may be the trademarks of their respective owners. Any rights not expressly granted herein are reserved.
You may not frame the websites. You may link to the websites, provided that you acknowledge and agree that you will not link the websites to any website containing any inappropriate, profane, defamatory, infringing, obscene, indecent, or unlawful topic, name, material, or information or that violates any intellectual property, proprietary, privacy, or publicity rights.
The content on the Services is copyrighted. You may not alter it or change any copyright notices without our permission. You may not use your own web design skills to put "frames" around our websites and pretend they are yours. You also may not link to our websites from websites that contain content we would find objectionable.
k. NO WARRANTY. RateGator PROVIDES THE SERVICES 'AS IS," "WITH ALL FAULTS" AND "AS AVAILABLE," AND THE ENTIRE RISK AS TO SATISFACTORY QUALITY, PERFORMANCE, ACCURACY, AND EFFORT IS WITH YOU. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, RateGator AND ITS SUPPLIERS MAKE NO REPRESENTATIONS, WARRANTIES OR CONDITIONS, EXPRESS OR IMPLIED. RateGator AND ITS SUPPLIERS EXPRESSLY DISCLAIM ANY AND ALL WARRANTIES OR CONDITIONS, EXPRESS, STATUTORY AND IMPLIED, INCLUDING WITHOUT LIMITATION (A) WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, WORKMANLIKE EFFORT, ACCURACY, TITLE, QUIET ENJOYMENT, NO ENCUMBRANCES, NO LIENS AND NON-INFRINGEMENT, (B) WARRANTIES OR CONDITIONS ARISING THROUGH COURSE OF DEALING OR USAGE OF TRADE, AND (C) WARRANTIES OR CONDITIONS OF UNINTERRUPTED OR ERROR-FREE ACCESS OR USE.
p. Release. You release RateGator, its affiliates, and their respective directors, officers, employees and agents from all liability related to any and all claims and demands you may assert against any third party arising out of the Services. If you are a California resident, you waive California Civil Code Section 1542, which states, "A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor."
r. Contact Us. For questions about the Services, you should contact RateGator at firstname.lastname@example.org or (800) 663-9128.
-Updated July 16, 2015
At RateGator, we appreciate your use of and contributions to our websites, our mobile and desktop applications, our other properties and/or our related services (collectively known as the "Services," or, each individually, a "Service"). RateGator respects your privacy and is committed to protecting your personal information.
Advertising-Supported Business Model
The Services and our extensive set of features are generally funded through advertising dollars.
This advertising revenue helps keep RateGator free of charge for our personal user community. It also allows us to explore and build new features.
We strive to make advertisements relevant and useful to you. Therefore, we may serve advertisements to you based on the information we collect from you or in relation to your interaction with the Services.
We pledge to be transparent about the information we monitor and collect from you. We keep information private between you and RateGator, except as explained below.
Collection of Information
When you use the Services, we collect a variety of information.
In addition, when you order products or services through the Services, RateGator may collect your credit/debit card information. This information is secured using industry-standard encryption technology. RateGator will use this information solely to complete your order and will not share this information with outside parties, except to the extent necessary to complete the order or comply with applicable law.
Some pages of the Services may use third-party Web beacons. In addition to our use of the data to analyze visitor activity on the Services, these third-parties may use anonymous information about your visit in order to improve its products and services and to provide advertisements about goods and services that may be of interest to you.
We have implemented remarketing, which tracks and manages cookie information so that we and third-party service providers can better deliver advertisements that are relevant and useful to you on the Services and various websites across the Internet. We have also implemented display network impression reporting to better understand how ad impressions and ad services are related to visits to our sites. You can customize ads or opt out of these services using the Google Ads Settings.
Usage and Disclosure
In general, RateGator uses the information collected from you to communicate with you and operate our Services. RateGator also uses this information to respond to your requests and present you with advertising that we believe will be of interest or useful to you.
Your privacy is important and we are committed to protecting information that identifies you personally, where you have chosen to keep it private ("Personal Information"). We will only share Personal Information that you provide outside the public areas of the Services in the following circumstances:
Real Estate Information
RateGator strives to provide open and transparent information about real estate markets. For example, we make available past sales prices for homes, and allow any user to post a question or answer about a given home. Many times, this information is already publicly available. As long as discussion surrounds real estate and not individuals, we intend to keep this information freely available through the Services. Where a professional participates in the RateGator communities, we may also allow users to comment on the professional.
You may receive email from RateGator for a variety of reasons - for example, if you took an action through the Services, you signed up for a regular report, or you posted your home for sale and a buyer sent you a message. We respect your desire to manage email correspondence. If you have an account with RateGator, you can select your preferences through your account settings. Also, you can manage your receipt of some types of communication by following the instructions included in the email we send you. Please note that, even if you unsubscribe from certain email correspondences, we may still need to email you with important transactional or administrative information.
In addition, if you have provided your email address to us, we may use a scrambled, unreadable form (a hash) of your email address to deliver tailored advertisements to you on the Services or on other websites, including via Facebook’s Custom Audience Feature or other similar Facebook tools. We will not share your email address with Facebook. Click here to learn about how you can control the ads you see on Facebook.
You may opt-out of cookie tracking and analysis as described in the section below entitled ‘Opting Out of Collection of Information’. The Services do not otherwise respond to ‘do not track’ signals.
Opting Out of Collection of Information by Third Parties
RateGator marketing service providers. If you do not want RateGator and its marketing services providers to follow your usage of our Services via cookies and Web beacons, you can opt out of Cookies/Web beacons from:Google Analytics and Yahoo! Opting out of these services does not mean you will no longer receive online advertising. It does mean that the service from which you opted out will no longer deliver ads tailored to your Web preferences and usage patterns. Please note that, if you opt out and later delete your cookies, use a different browser, or use a different computer or other electronic device, you will need to renew your opt-out choices.
RateGator can provide you with helpful information based on where you are. If you tell RateGator where you are (e.g., by allowing your mobile device to send RateGator your location), RateGator may use that information to provide you with location-based information and advertising. If you wish to deactivate this feature, you can disable location services on your mobile device.
Children Under the Age of 13
RateGator will not knowingly collect personally identifiable information from any person under the age of 13. The Services are not designed to attract the attention of persons under the age of 13.
Storage, Security and Retention of Information
You acknowledge that Personal Information will be processed and stored by RateGator in databases hosted in the United States. RateGator has taken reasonable steps to protect the information users share with us, including, but not limited to, setup of processes, equipment and software to avoid unauthorized access or disclosure of this information. No transmission of information via the Internet can be entirely secure, however, so please always use caution when submitting Personal Information.
You can access, update, and delete Personal Information you provide to RateGator in your account profile by logging into your account or emailing us at email@example.com. While we are ready to assist you in managing the Personal Information you provide to us, we cannot always delete records due to financial reporting, compliance, or other reasons.
If you have any questions about this privacy statement, or the privacy practices of RateGator, please email us at firstname.lastname@example.org.
— Updated January 2016