Can A.I. Fix Income Calcs For Mortgages? Funny You Should Ask

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Posted To: MND NewsWire

Fannie Mae’s Lender Sentiment Survey has foreshadowed the growing attention to automating the loan approval process. That survey underlined the extent to which lenders are viewing increased efficiency as key to reversing their declining profitability expectations. Freddie Mac has talked about the growing need for lenders to embed artificial intelligence (AI) into their internal operations and now CoreLogic has jumped in with a specific area in which it sees a need for streamlined software, borrower income verification. CoreLogic researcher Brandon Brahms says any underwriter knows that the processes to approve a borrower is inefficient and time-consumer . While there have been technological improvements, the process still requires some manual data entry, use of spreadsheets, and pencil and…(read more)

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