United Wholesale Mortgage (NYSE:UWMC), the top mortgage lender in the country, announced an AI partnership with Google Cloud on April 8. The goal of the partnership, according to the two companies, is to bring modernization to the mortgage industry.

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Jason Bressler, UWM's chief technology officer, told Housingwire, "We decided to really take the plunge into everything AI probably about two years ago, and we've been working with Google on their different extraction modeling, their platform, their data lakes. We've got a pretty large partnership with Google at this point."

Oliver Parker, Google Cloud's vice president of AI, told Housingwire the partnership is a great example of how AI can be used in technical processes like mortgage lending. "One side is helping on the back office side, the origination side and providing brokers more data quicker. The other is how you think about things on the front side. With a lot of the automation, you start to think about voice on the front end. You think about a full customer journey. Jason and I have often talked about how much more we could be doing here…that we can do when you start thinking about experience for a home buyer as well as what you could truly do for brokers and putting them in a position to be the most successful."

"There is sort of a full scale set of capabilities that we are now beginning to see are incredibly valuable and starting to get what I would call sort of traction at scale. Twelve months ago, you would see pockets of what I would call experimentation. You see proof of concepts, and they would light up certain things…but we're now moving more towards these systems starting to scale and actually being applied, especially externally," Parker told Housingwire. 

As for UWM, Bressler says that the benefits of the partnership will be immediate for its broker partners. "They're going to see a lot of clarity and very quick understanding of what they're submitting, what it means, what their income is, their assets, their documents," he told Housingwire. "And they're going to see an incredibly fast kind of understanding of the products that they qualify for, that their borrower qualifies for. They're going to be saving homeowners thousands of dollars a year."

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