TRUE’s CEO, Steve Butler, joined the Chrisman Commentary to discuss what he calls “Background AI” and how this will transform the process of mortgage manufacturing.
Many mortgage companies are (justifiably) wary of new tech, as many previous investments have fallen short for lenders. One of the main problems is they operated in a way that created a burden for staff, and actually required larger teams with specialized workers to operate. Technology that creates more complex workflows which require more workers to operate is not a strong business investment.
Steve believes the real solution lies in breaking up the manufacturing process into small stages, each of which can be fully handled by AI. You can trust the AI to do the task without coaching or checking its work – this is a background worker. With purpose-built AI specifically designed for each stage of the process, this can be a reality.
This means that the lending process will become far quicker and simpler for both borrowers and LOs. When the solution is machine-based rather than human-based, pre-approval can happen almost instantly. TRUE’s suite of instant solutions is targeting these different stages of mortgage manufacturing for efficient, accurate decisioning that happens in the background in real time.
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