In-house AI tool slashes research time for loan officers
Guild Mortgage, a national independent mortgage lender, has introduced a new artificial intelligence tool called GuildGPT to help its employees search the company’s knowledge database.
Developed in-house, GuildGPT allows Guild’s mortgage professionals to quickly access information on company products, guidelines, and related questions. The AI assistant has been integrated into Guild’s existing knowledge database.
Gemma Currier, senior vice president of corporate strategic initiatives at Guild Mortgage, explained how the tool works: “When you consider that Guild partners with more than 25 different investors and offers more than 500 distinct loan programs, you can imagine how long it could take loan officers to find the exact guideline they need.
“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.”
Since its launch in June, nearly 2,000 Guild employees have used GuildGPT, which has answered over 20,000 queries. The company said that employee feedback has been largely positive, with many stating that the tool has become “vital to improving how they are able to do business.”
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“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,” Scott Long, vice president of data services and emerging technologies, said 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.”
Founded in 1960, Guild Mortgage is a subsidiary of Guild Holdings Company. The lender operates in 49 states and the District of Columbia, offering residential mortgage products and in-house origination and servicing. Guild specializes in government-sponsored programs such as FHA, VA, USDA, and down payment assistance programs.
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