UWM says Google partnership will boost originations

United Wholesale Mortgage has agreed with Google Cloud to integrate the tech giant's artificial intelligence and cloud computing power into its lending platform. 

Google Cloud AI will help the leading lender improve its underwriting automation, document processing, and bring AI-driven chat experiences to its client support, the companies said Tuesday. UWM said its underwriters have already jumped from underwriting six loans a day to 14 by using Google's Gemini Flash 1.5 model. 

The wholesale lender and servicer will also explore using Google Cloud infrastructure to "improve scalability and security" for its brokers and borrowers. The partners said they will utilize Google Cloud's tech to enable more personalized loan recommendations for mortgage borrowers. 

"By combining our mortgage expertise with Google Cloud's generative AI and cloud capabilities, we will set a new standard for the industry, providing clients with a seamless and intelligent lending experience," said Mat Ishbia, president and CEO of UWM, in a press release. 

Google Cloud CEO Thomas Kurian in a statement described UWM as "at the bleeding edge of generative AI in the mortgage space."

The companies said additional details on Google integrations would be disclosed in the coming months. Among other AI-powered tools it has released, the lender last year rolled out a ChatUWM tool, which was developed with Google, Microsoft and ChatGPT creator OpenAI.

Tuesday's announcement is also the latest move in an arms race between UWM and chief rival Rocket Cos., which in the past month has announced acquisitions of digital brokerage Redfin and servicing firm Mr. Cooper. UWM last week said it ended its subservicing relationship with Mr. Cooper, although it's unclear how much of the lender's massive portfolio was overseen by the servicer.