Rocket Mortgage’s Post

This is an amazing piece of tech we've built at Rocket. Watch the video in the link to see how this automates our client experience and lets our team members focus on our clients and not on documenting and searching notes. I can't imagine how transformative this would have been for my experience working in customer service back in the day. It was great to work with this team last month to tell the story of their innovative work. This is just a small piece of the puzzle of AI at Rocket. My team is finding ways to use AI each day to make us more productive and take away the tasks that bog us down. Even if you haven't started to embrace AI, you can dip your feet by using an AI service as your personal assistant and find ways to have it do unwanted and repetitive tasks. Just remember, don't upload any propriety or sensitive information when using these third-party and free services.

The home purchasing process is a stressful one for new buyers and even experienced buyers. Now, we’re seeing AI enter the purchasing journey, and it's making some considerable differences. Anything that makes that purchasing experience less daunting is welcomed! 🤖 #Homes #HousingMarket #AI

Mortgage rates are at a 21 year high - which means that banks and mortgage lenders need to very agile and adaptive in order to service their clients's needs. Hero Digital's Financial Services Personalization playbook was instrumental to Academy Mortgage Corporation in preparing for changes they could anticipate, and even this one which was hard to foresee. https://lnkd.in/gXZSWWJi

‼️Another post on what I heard from HousingWire The Gathering this week. Not surprisingly, CEOs and innovators are talking about A.I. and automation. In almost each case, the goal was personalization and customization. This was true when talking about consumers and team members alike. 1). Technology and A.I. can make your people more powerful and effective. 🚀 Rocket Companies Varun Krishna sees A.I. tools as a super power for his team members. Using natural language A.I., Rocket gathers data on the how the customer searches and truly who the customer is. A level of personalization that makes anyone working with customers feel like they know them at the push of a button. This also means using A.I. and tech to predict & serve life events and important financial decisions. It also makes the company more efficient distinguishing casual customer intent versus deeper intent etc. ✔️Lower.com CEO Dan Snyder pointed to a similar super power. His comments were focused on the way his team works and works together. Leveraging technology is one way to show your team how you are investing in differentiation. It’s also a consideration when evaluating M&A. People & culture are primary but ability to use technology is key. 2). Automation of lifecycle management 💻loanDepot’s Frank Martell put it this way - “We are looking for ways to automate the homeownership lifecycle.” With more than 500,000 households, the best way to deliver insights and tools to serviced clients is through technology. Automation reaches everyone where they are. 🏡Steve Gaenzler, CFA from homegenius focused on A.I. and data to create a platform that uses “lifecycle management” as the logical framework for supporting lenders and servicers. Homeownership and home data are predictors which increases retention and/or should dramatically lower customer acquisition cost. #innovation #AI #technology #homeownership #mortgage

Last week HousingWire hosted a private dinner in Dallas with a dozen mortgage technology leaders. While discussing customer journeys, boosting volume, and maximizing efficiency, the conversation quickly turned to artificial intelligence. This topic struck a nerve, and the viewpoints are strong! This webinar builds on that off-the-record conversation, and brings important AI insights and knowledge to HousingWire’s virtual stage. We’re bringing you some serious expertise with executives from homegenius and Boston Consulting Group (BCG). ⭐ How AI and machine learning technology is impacting mortgage lending ⭐ AI use cases that are being adopted now, and the outlook for the rest of 2024 ⭐ How the consumer benefits from AI throughout the home-buying journey ⭐ How to identify the right partners for customer engagement objectives Join Steve Gaenzler, CFA, Vishal Madhavan and Dave McCormick March 6 @ 1 p.m. CT  Clayton Collins Allison LaForgia Sarah Wheeler https://lnkd.in/gY9gewWa

Enterprises are filled with processes that involve document ingestion, applying large rule sets, tons of back and forth between customers/ third parties/multiple departments in the company itself, fixing the inevitable mistakes. We have always knows that software can give humans superpowers for many of these flows (and take over some of these tasks entirely). That time has arrived in mortgage with the team at Vesta mike yu Devon Yang. Working on another flow/process that should be powered by AI/software? excited to talk to you. https://lnkd.in/gai_uWqW

Today's mortgage application process is undergoing a transformative shift. Companies are harnessing technology to refine and enhance the customer journey. Here's a snapshot of the practices that are setting the gold standard in mortgage app development: 1️⃣ 𝐒𝐭𝐫𝐞𝐚𝐦𝐥𝐢𝐧𝐞𝐝 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐆𝐚𝐭𝐡𝐞𝐫𝐢𝐧𝐠 Leverage progressive disclosure methodologies to simplify forms. By providing users with immediate feedback, such as preliminary mortgage estimates, we ensure sustained engagement and minimize drop-offs. This approach prioritizes essential data, fetching supplementary details from integrated platforms as needed. 2️⃣ 𝐌𝐮𝐥𝐭𝐢-𝐂𝐥𝐨𝐮𝐝 𝐃𝐚𝐭𝐚 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 Harness the power of a multi-cloud strategy, optimizing for peak performance, minimal disruptions, and cost-effectiveness. Utilizing platforms like AWS EC2 for app hosting and AWS RDS for database management ensures optimal latency and streamlined data administration. 3️⃣ 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐞𝐝 𝐁𝐚𝐧𝐤 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧𝐬 Our expertise lies in crafting efficient API calls, and minimizing costs while maximizing data retrieval. By seamlessly integrating with credit bureaus, insurance entities, and property valuation services, we provide users with a comprehensive financial overview, streamlining decision-making. 4️⃣ 𝐓𝐚𝐱 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 Utilize platforms like Logismata to offer users bespoke mortgage calculations. These tools factor in diverse variables such as regional tax implications, income brackets, and more, ensuring users receive tailored financial insights. 5️⃣ 𝐑𝐢𝐠𝐨𝐫𝐨𝐮𝐬 𝐀𝐏𝐈 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 Our rigorous testing encompasses a vast array of scenarios, from handling expired card details to preemptively countering potential security breaches. We employ tools like Postman and REST-assured to simulate requests, ensuring a flawless user experience. 6️⃣ 𝐂𝐥𝐢𝐞𝐧𝐭 𝐒𝐞𝐥𝐟-𝐒𝐞𝐫𝐯𝐢𝐜𝐞 Our state-of-the-art chatbots, underpinned by sophisticated AI algorithms, can adeptly manage a plethora of customer queries. This not only elevates the user experience but also significantly curtails operational expenditures. Swipe ➡️ our carousel for a visual deep dive into mortgage software features, architecture, UI/UX insights, and more! #MortgageTech #Fintech #AppDevelopment #DigitalTransformation

The most important first step to building any title or mortgage tech stack is building an objective strategy. Here are a few pointers. Kevin Mazur Terri Hanson #VizionX #title #mortgage #proptech #titletech #techstack https://lnkd.in/e44uJcf5