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Agile Mortgages’ Powerful Rules Engine: Allowing AI Assistants to Mimic Cognitive Thinking and Build Mortgage Expertise

Tile Saas

Having a static robot that can’t adapt is unhelpful. Software in the digital economy needs to learn.

As the American economy shifts its gaze towards a post-Covid landscape, Software-as-a-Service (SaaS) is claiming the moment, by offering the capability and flexibility that is required in an era of change. With its ability to scale up or down quickly, to function from anywhere on any device without sacrificing control or security, and its agility, SaaS is changing the business landscape. For the first time ever, companies and organizations are able to get powerful infrastructure up and running without large capital investment and hardware, and in record time.

While this is all true across the economy, it’s especially useful for the mortgage and lending sector that is facing unprecedented demand, agile mortgages are proving to be a lifeline in coping with the demands of the moment. HousingWire.com reported these astonishing numbers in late May. ‘If you’re in the mortgage business, fasten your seatbelts. Refinance volume is set to spike to a 17-year high this year as mortgage rates fall to the lowest levels ever recorded, Fannie Mae said.

Even as other parts of the economy tank, lenders will originate $1.5 trillion in refis in 2020, a 51% jump from 2019, according to the forecast. That would be the highest level since 2003 when $2.5 trillion of mortgages were refinanced, according to data from the Mortgage Bankers Association.

For lenders, there’s never been a more urgent need to automate time-consuming processes, and enable your workforce with a new generation of AI assistants that can dramatically reduce the workload on stressed and overworked staff.

The Power of Cognitive Robots

The Agile Mortgages solution from AI Foundry uses cognitive robots that join your workflow in order to assist in all aspects of the loan application. From loan processing to underwriting and closing, as well as the further sale of the loan to GSEs or correspondent investors.

Agile Mortgages' robots assist the loan lifecycle by

  • auto-classifying documents,
  • auto-extracting data,
  • executing pre-loaded business rules,
  • and updating the LOS to accelerate loans, reduce costs, and remove human error in key stages of the loan lifecycle.


A cognitive robot is truly an AI assistant that can prevent loan defects while automating more than 50% of manual tasks.

What this solution is able to do neatly is to eliminate the repetitive tasks that are inherent in today’s loan processing work of income, asset and insurance verification – saving you time and reducing your operating expenses. The exacting nature of the software ensures more accuracy than ever before.

Driven by The Rules Engine

Powered by AI, computer vision and machine learning, Agile Mortgages have the ability to mimic cognitive thinking and build expertise over time. In large part, that is thanks to the rules engine, which underpin the operations of all AI assistants.

Having a static robot that can’t adapt is unhelpful. Software in the digital economy needs to learn. That’s why AI Foundry’s bots are built on top of an adaptive rules engine “that utilizes external and SME information to generate inferences that can help identify problematic scenarios, that range from incomplete applications, to potential fraudulent activities, as well as identifying market trends,” in the words of Ken Revett, the Principal Data Scientist at AI Foundry.

Agility and creative problem-solving are vital when it comes to driving changes to the ways that lenders operate and solve problems for their clients. 

The rules engine makes the system capable of self-correction and adaptation, through a variety of machine learning based strategies, without the need for significant human intervention or initiative, which makes it a powerful tool in any lender’s arsenal.

And it’s all integrated into the end-to-end workflow of the lending process in a way that is designed to improve the overall business outcomes. When problems and errors are identified by the AI Assistants, a process is set in motion whereby loan officers, processors and underwriters can take immediate corrective action on identified defect conditions which enables the loan to continue moving forward. 

In a recent Venturebeat story, the writer noted that ‘Forward thinking businesses are seizing this unprecedented opportunity to pause the growth/execution treadmill and imagine a new value/ideation opportunity.’

These new ways of thinking are proving to be transformative in collapsing the boundaries between front and back offices, streamlining workflows, and dealing with the kinds of data-specific problems that have plagued loan applications for as long as they have existed.

For more information, or to see a demo of the system in action, please get in touch with AI Foundry today, and find out how our solutions can help solve your problems.