Lender Price

Transcription:

Paul Orlando (00:08):
Good morning everyone. My name is Paul Orlando. I'm the Chief Strategy Officer at Lender Price, and on stage is Dawar, our CEO and co-founder. We're excited to be here today to show you a few of our many tools that we have at Lender Price to help make the lending process easier. The tools we're going to show you today are our AILA Builder and our AILA Helper product. These are both designed to help automate and make the system easier. AILA stands for Artificial Intelligence Loan Assistant and it's the base platform that we've created in order to be able to provide these different services. The first thing that we're going to do is switch over to our AILA Helper. AILA Helper is designed to help loan originators figure out what products they really want to look at and to help them with questions around guidelines, as well as looking at near miss scenarios.

(01:05):
We're going to start in our Marketplace app and we're going to search for a new product. I'm searching for a conventional product. I've got a borrower and they're interested in learning what we've got going on. They want to know what our prices are, and so we're going out looking, finding the right products based on the information they had. Now, in the bottom right corner, there's the AILA icon. We click on that and we can start asking it questions. In this case, the client said, "Hey, you know what? I'm actually going to use this as an investment property, and I don't know a lot about DSCR products," so I'm asking it about DSCR products, what it can do, how they work, and then from there I can look and say, "I want to reprice this as a DSCR product. What do I need to do?" We then ask it that question and AILA is going out and searching the guidelines, and then we have a prompt that says, "Would you like me to update your search?"

(02:04):
So when we click on that, it immediately takes us back and it changes the property type to investment. It changes the income type to DSCR and it puts in a DSCR ratio of 1.5. These are all configurable options and when we search again, it's going to go through and it's going to bring back the products that are relevant for that DSCR request. Now again, I said I don't know a lot about DSCRs, so I want to ask AILA more information. We've got pre-formatted questions that you can click on like "Outline the guidelines for DSCR." It's now going out looking at the specific guidelines for that investor, and that's important to note because if you're just searching the global internet looking for anything on DSCR, you're going to get different results based on what companies do in their specific manner. By having AILA focus only on the investor that you're looking at, it's bringing back their specific guidelines so that way you know that it's going to be available to you. So if you want to dive really deep into it, you can click on the link and it'll take you directly to the investors' full guideline set.

(03:23):
That's just a little bit of the power of AILA. Now what we want to do is switch over and show you our near miss product. Again, this is using AILA as well. With Near Miss, we're allowing you to search for products, and then we'll show you on the right side of the screen, there'll be an icon that'll say NM for Near Miss. What this will do is you look at the results that come up on the screen, you find the product that you're interested in, and you want to see what other options are available. If you were originally on a High Balance product and now you want to see if there is a conventional product, you could click on Near Miss and it'll display the results. At the bottom of the screen, you can see that there's tabs for all FICO changes or FICO and loan amount changes.

(04:14):
You choose which one you want to filter it down, and then as you hover over, you can see that there was an arrow that said, "That's the one I want." When you click on the arrow, it automatically updates the search. You can then hit search again and the new results will come out. These are the ways that we're making it easier for our loan originators to be able to ask questions about guidelines, get information about near miss products, and be able to work easily and efficiently in the system. We're now going to switch over to our AILA Builder product. As you can see, this UI is significantly different than the one that we were showing you before. All of the changes to this screen were made just by typing simple commands into AILA Builder. This allows you to have anyone on your team work and make changes when it's right for you.

(05:13):
In this case, we're going to change the design from the four-column design to a process flow design. This is all being done behind the scenes using AI technology. It's reading the request, looking at all the information that's already there on the screen, and deciding how it needs to rearrange it in order to make it work as efficiently as possible. As it goes through, it's updating all the style sheets behind the scenes. In the past, this would've required you to file a statement of work with us. We would have to get a developer assigned, and you would have to wait for that development cycle to be completed to get the results. With AILA Builder, you can go in when it's convenient for you, you can make those changes and they will be reflective for you. Now, this particular one will take anywhere between one to two minutes to do, but think about it: if you're looking at one to two minutes versus one to two weeks plus paying for a statement of work, the time is minimal compared to the results that you get.

(06:21):
As you can see, we are now showing you how that took two minutes or less to change from a column design to a step design. We have other designs that we can show you. This is a fix and flip one. Again, this was created all with our AILA Builder product. We have another one with a left-side design, so now all of the information is on the left side for your data inputs and your results are on the right. This was again made just by typing in simple commands like "make the inputs on the left and the results on the right." The final one we want to show you is for all you Pacman and Tron friends; again, we told it to "make this look retro" and it came up with this design. That's the power of AILA. That's the power that Lender Price is bringing to you to make things better, easier, quicker, and faster for your lending process.