The capital markets platform will allow its investor clients to compare non-qualified mortgage rate sheets to their competitors for free.

If customers perceive they are dealing with a scripted chatbot, they are likely to be less satisfied with their mortgage servicer, J.D. Power said.

While recent homeowners overwhelmingly support digital innovation that leads to faster, streamlined transactions, AI is "still not a trusted system for many borrowers," Cloudvirga said.

At the Most Powerful Women in Banking conference this week, New York's top banking regulator said banks need to take full responsibility for the artificial intelligence models they use, even if they bought them from a third party.

Mortgage borrowers will begin speaking with the enhanced chatbots early next year.

Better's voice assistant can help customers get answers to mortgage application inquiries, call them back if they abandon an application and ask them about the weather.

The new tool, dubbed Araya, utilizes data available in several of the technology firm's lines of business, including its climate risk division.

Papanii Okai will fill a newly created position of executive vice president of product engineering at Rocket Mortgage.

The mega wholesale lenders ChatUWM bot will now be able to sift through PDF documents, calculate borrower income and upload loans to UWM's application system.

Figure Technology Solutions introduces a gen AI-powered tool dubbed the "stare and compare killer" which aims to help with document reviews.