Guild Mortgage introduced an in-house artificial intelligence tool to help its loan officers search the company's database instantly, the lender announced Monday.
Using the tool will save ample LO time as Guild has close to 500 distinct loan programs that it offers to consumers and over 25 investors that it partners with.
With that in mind, "you can imagine how long it would take loan officers to find the exact guidelines they need," said Gemma Currier, senior vice president of corporate strategic initiatives at Guild, in a written statement.
"With GuildGPT, our team members are able to ask plain language questions and have the answer delivered within seconds, increasing the speed at which they can respond to their customers and partners," Currier added.
Since GuildGPT's launch in June about 2,000 employees have tested it. The tool has helped answer more than 20,000 questions asked by team members, according to the company.
Feedback from originators "has been overwhelmingly positive with many saying that GuildGPT has become vital to improving how they are able to do business," the lender claims.
"AI is now a part of our everyday lives, and we knew we could leverage this technology to make simple tasks quicker and easier for our teams," said Scott Long, vice president of data services and emerging technologies at Guild, in a press release. "This is only the start of GuildGPT, we plan to continue to grow this tool, and others, to add functionality and streamline processes to serve our employees and our customers."
Guild is following in the footsteps of many of its competitors in the mortgage industry that have previously launched bot tools to help streamline information seeking and customer communication.
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