Mortgage Originators Increase Home Buying Applications Through AI

The fact that there are now more affordable homes than ever before make it a fantastic time for mortgage lenders to use technology as a means of capturing refinance opportunities and to garner new clients. Now is the time when artificial intelligence mortgage lending has a bigger potential to positively affect the process than ever before. Credit unions, banks and mortgage lenders are now poised to bring in new customers and to help those that have been with them for years refinance their loans.

This vastly improved market is going to help the first-time home buyer and other buyers decide to take a leap and look for home buying opportunities. Buyers are now looking for more personalized experiences that allow for one on one interaction with the mortgage lender so that they can be part of the process from start to finish.

Artificial Intelligence (AI) has a greater potential to help lenders create a better experience for their borrowers, to collect insight into their potential buyers, what their preferences are, what their intent is and what they hope to accomplish with their particular loan. Using artificial intelligence to collect this information helps lenders better understand what loan options to present to potential borrowers that they will be more likely to accept. AI also has the potential to make the actual borrowing process easier with elements like electronic signatures, home search tools, educational resources and more all have the potential to make the loan process easier, more personal, and more efficient overall.

The world of the AI mortgage is closer than you might think and progressive companies like NestReady are working to provide real solutions that can help with the home loan process. The An AI-powered mortgage advisor has more power than you might imagine as they hold the tools to collect more data and to truly make a difference in the loan process for their customers. Everyone wants to feel like their opinions are being taken into consideration and artificial intelligence has the potential to make each lending experience special and unique for each borrower.

Frederick Townes and NestReady partner National Bank of Canada’s Chief Advisor of Strategic Alliances & Partnership Management, Karim E. Chajid will present a demonstration on “Concierge Lending: Delivering Personalized Homebuying Experiences Through AI” at the BankAI Conference in Boston on October 8th at 1:30 PM.

This talk will focus on the homebuyer experience and how artificial intelligence can help to improve the overall borrowing experience and the confidence that borrowers have in the process. It will also focus on the personalization of the loan process and how lenders can use this personalization to stand out from other lending companies in a market that is already highly competitive.

You can learn more about the use of AI in the mortgage process from NestReady CTO and Co-Founder Frederick Townes in his article published in National Mortgage News, “Opinion: The Right Analytics Helps Lenders Deal with Application Surge.” The world of the mortgage lender is changing and now more than ever mortgage machine learning is more helpful in creating personal experience than ever before.

To learn more about how NestReady helps loan officers as well as mortgage lenders generate and convert more homebuyer leads, you can get in touch here or check out our Loan Originator solution today.

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