San Diego-based Guild Mortgage is the latest mortgage lender to announce the use of artificial intelligence (AI) to improve its operations through the launch of an in-house system.
The platform, dubbed GuildGPT, is integrated into Guild’s knowledge database and allows employees to deliver customized and instant information on company products and guidelines. Since its launch in June, the company estimates that nearly 2,000 employees have already accessed the system, which answered more than 20,000 questions.
That’s relevant when considering that Guild “partners with more than 25 different investors and offers more than 500 distinct loan programs,” according to Gemma Currier, senior vice president of corporate strategic initiatives for Guild.
“With GuildGPT, our team members are able to ask plain language questions and have the answer delivered within seconds, increasing the speed at which they can respond to their customers and partners.”
Scott Long, Guild’s vice president of data services and emerging technologies, said the company plans to “continue to grow this tool, and others, to add functionality and streamline processes” to make simple tasks quicker and easier for the lender’s teams.
Other mortgage lenders have also launched AI tools to improve their operations. They aim to streamline the mortgage origination process so that employees can free up valuable time with less mechanical work and enhance productivity to serve customers and partners better.
In April, Rocket Mortgage launched its patented AI-driven platform, Rocket Logic. It later added a tool that allows client experience teams to analyze customer sentiment, record behavior patterns and transcribe conversations, among other things.
In May, United Wholesale Mortgage announced its AI-powered search engine, ChatUWM, which provides instant responses to clients for things like guidelines, matrices, lender tools and technology. ChatUWM is based on the company’s knowledge base, “The Source.”
