Partnership uses Gemini Flash 1.5 to double underwriter capacity and enhance mortgage processing
United Wholesale Mortgage (UWM), the largest US mortgage lender, has entered into a new agreement with Google Cloud to incorporate artificial intelligence and machine learning into its lending operations.
The partnership, announced Tuesday, will focus on streamlining underwriting and document processing while improving client-facing support tools.
As part of the collaboration, UWM is integrating tools powered by Google’s Gemini Flash 1.5 model, which the company said is already producing noticeable results. According to UWM, underwriters using the AI tool have increased their capacity from six to 14 loans per day, more than doubling productivity.
UWM will also use Google Cloud’s infrastructure to enhance system scalability and security. The company services more than 50,000 mortgage brokers across the country.
“This agreement signals two industry leaders coming together to tackle the mortgage industry’s biggest challenges and deliver innovative solutions,” said Thomas Kurian, CEO of Google Cloud. “United Wholesale Mortgage is at the bleeding edge of generative AI in the mortgage space, and together we are reimagining the home financing journey, making it more efficient and faster for mortgage brokers and homebuyers.”
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UWM said it will work with Google Cloud to improve automation in underwriting, reduce friction in document workflows, and expand its use of AI-powered chat support for brokers and borrowers. The company also plans to use data-driven insights to offer more personalized loan recommendations and improve the speed and accuracy of mortgage matching.
“We are incredibly proud to enter into this transformative partnership with Google Cloud as it is a major step forward in our mission to make the mortgage process faster, easier and cheaper,” UWM president and CEO Mat Ishbia said in a media release.
“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.”
Both companies indicated that more details on technology rollouts and product enhancements would be released in the coming months.
In a separate development, a federal judge recently denied a motion to dismiss a lawsuit filed by UWM against Atlantic Trust Mortgage Corporation, allowing the case to move forward.
The lawsuit alleges that Atlantic Trust, a mortgage broker based in Florida, violated UWM’s “All-In Initiative,” a policy introduced in March 2021 that required broker partners to stop sending loans to two competing lenders, Rocket Mortgage and Fairway Independent Mortgage, if they wanted to continue working with UWM. The exclusivity clause was added unilaterally to broker agreements as a condition of continued partnership.
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