TRUE’s President & CRO, Steve Butler, recently joined The Chrisman Commentary podcast for a discussion on the mortgage operations tasks that can benefit the most from AI.
In an uncertain market, it’s important to prioritize processes and create an efficient, scalable business. Automation is becoming essential to compete in today’s industry, and the best way to successfully apply AI is to first identify the most laborious steps in your mortgage workflows. Then, find and implement AI background workers that can perform these tasks efficiently, accurately, and with no review needed. Steve recommends automating time-intensive mortgage tasks including:
- Indexing documents and filing them into a Loan Operating System (LOS)
- Extracting data from borrower documents
- Underwriting
- Post Close & QC
With AI background workers handling these tasks, workers are able to focus on customer experience and bringing in new business. Steve advocates for lenders getting off the sidelines of the automation game and taking small steps to implement, rather than attempting to boil the ocean with unrealistic goals.
Most mortgage insurers and several major lenders are using TRUE’s suite of AI-powered, interoperable solutions to automate data and decisioning tasks to save time and money.
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