White Paper

From Artificial Intelligence to Lending Intelligence

As the field of artificial intelligence (AI) continues to evolve, it follows a pattern of development in waves, each wave brings about enhanced capabilities, making AI increasingly useful in various industries.

In this white paper, our CEO and Co-founder, Ari Gross, focuses on a specific category of AI built exclusively for the mortgage industry. At TRUE, we have developed technology that is used by lenders, the secondary market, and mortgage insurers, addressing one of the industry’s biggest challenges – the high costs and operational bottlenecks associated with capturing clean and accurate data about borrowers.

But to understand the current state of AI in the mortgage industry, it is important to look at its history and how it has evolved over time. By providing a long-term perspective, we can better understand the potential of the latest AI technology to address industry challenges and accelerate loan decision-making. Furthermore, Ari unpacks how TRUE’s AI works, highlighting its ability to support complex decisions that involve not only data but also human emotions, reputation, and financial implications for lenders and borrowers.

Key Insights Include:

  • The story of AI, exploring its history and the importance of trust in its capabilities.
  • The ongoing debate surrounding AI and its potential rewards and harms.
  • How AI, specifically built for mortgage lending, can enhance productivity, create new opportunities, and improve the customer experience without jeopardizing the sustainability of the industry or employment opportunities it provides.
  • How to overcome the challenge of unstructured data in lending, which often includes essential information beyond credit scores, such as documents like paystubs, bank statements, W-2 forms, and more.
  • TRUE AI’s two-step process: learning to read and global data comparison; and how this not only improves efficiency but also enhances the accuracy and trustworthiness of the lending process.