Shay Sabhikhi (pictured top) and Matt Sanchez (pictured top right), co-founder and COO and founder and CTO respectively, of CognitiveScale, spoke with Mortgage Professional America to describe the efficiencies of scale achieved since launching TrustStar, a SaaS-based product designed to provide mortgage companies with AI-powered market intelligence. Sanchez used an example of AI's use in lending: "If you were to get a bad decision, let's say you were denied credit for something, you'd want to know what that decision was based on, of course, as a consumer. And perhaps you might even want to know what you can change to get a better decision. That level of explanation is something we find very important. It becomes more important when you introduce artificial intelligence."

When one considers the top view of the mortgage industry, it is difficult to comprehend its associated carbon footprint. After all, it primarily involves a few transactions and some amount of paperwork, right? Dig deeper into the ecosystem, and you will discover the impact of offices, computers, data centers, paper mails, and travel – each of these elements contributing to the overall carbon footprint in one way or another. While some of these are invariable and bear some amount of environmental costs, others can be curbed in measurable ways. And in light of point #10 in our Green 2030 resolution, it is imperative that financial institutions take actionable measures towards the decarbonization of the economy.

Over the last few months, COVID-19 has taken over our lives and presented unprecedented threats to human life and the global economy. The mortgage industry has been severely affected as well. Life as we knew it is a distant reality and is expected to remain so for an extended period. COVID-19 has forced every industry to reassess its future. There is a compulsion to adapt swiftly and respond quickly to the new needs, opportunities, and challenges posed by our "new normal."

The idea of the paperless office has been around for decades yet few companies have been able to achieve anything close to this idea. With all the technological advances we've had, why is it still so hard for companies to move away from their people and paper based processes? It may come as little surprise that organizations are still awash in paper. However, for companies looking to gain insights and extract value from their data, they need to get that data into a state where computers are able to process it. To do that, companies need to digitize and digitalize their information and processes.

Platform Updates Address Mortgage Lending Industry Challenges of Customer Loyalty and Engagement, While Demonstrating the Company's Commitment to Innovation Within the Mortgage Industry. Stikkum, a leading technology innovator in the mortgage client retention space, announced the launch of its latest version of its mortgage retention alert and automation platform. The platform enhancements strengthen the way mortgage brokers and bank loan officers can reconnect, contact, and engage existing mortgage client relationships. Based on extensive market research and customer feedback, the company has expanded its platform to accelerate provider growth by addressing key challenges plaguing the industry. "Since Stikkum is designed specifically for the mortgage industry, we prioritize staying on top of off-market trends and incorporating customer insights to make dynamic solutions that help our customers achieve success," said Stikkum Managing Partner Jeff Londres.

This is not a blog about Old MacDonald or his farm. Instead it is about Artificial Intelligence (AI) in the mortgage industry. And we will NOT allow any sarcastic, caustic or offhand remarks about the mortgage industry needing some kind of intelligence. First of all, exactly what is artificial intelligence, at least how it is described of late? One thing it is not is fake intelligence (not related to fake news … and you might like this site that helps YOU create your own fake news … but I digress, and so soon ... sorry).

AI is about as big a buzzword that has ever existed in the mortgage industry, on par with automated underwriting, cloud technology, and digital mortgages. Indeed, AI is intrinsically tied to these innovations. AI tools enhance automation, can be delivered through the cloud, and would significantly improve the production of digital mortgages. At the same time, AI is also one of the least understood terms in the mortgage industry. This fact is keeping most mortgage industry participants from realizing its full benefits.

Huff: The last few years is when the use of artificial intelligence (AI) and machine learning (ML) technology has come into its own; it's not just an idea …

This is not a blog about Old MacDonald or his farm. Instead it is about Artificial Intelligence (AI) in the mortgage industry. And we will NOT allow any sarcastic, caustic or offhand remarks about the mortgage industry needing some kind of intelligence. First of all, exactly what is artificial intelligence, at least how it is described of late? One thing it is not is fake intelligence (not related to fake news … and you might like this site that helps YOU create your own fake news … but I digress, and so soon ... sorry).

A new study or survey is released almost daily that suggests that artificial intelligence (AI) and machine learning (ML) will revolutionize our lives. This past summer, the Treasury Department released a report in which the agency recommended facilitating the development of AI due to the potential it holds for financial services companies and the overall economy. The agency also found that AI was one of the three biggest areas of investment for financial services companies last year. However, it's not just the Treasury Department that is backing AI and machine learning. The Federal Reserve has recognized the two concepts, as has the Financial Industry Regulatory Authority (FINRA), which noted that AI could help banks prevent money laundering and improve data management and customer service.