We developed a mortgage system that uses AI to automate the pre-approval process for potential home buyers.
The brief.
The Mortgage Pre-Approval AI System automates the pre-approval process for potential home buyers, providing accurate and quick mortgage eligibility assessments.By leveraging AI, the system streamlines data collection, analysis, and approval processes, offering a seamless experience for both lenders and borrowers.
Our approach.
The traditional mortgage pre-approval process involves extensive manual work, leading to delays and potential inaccuracies. Ascendum’s AI-driven system addresses these challenges by automating the process, from data collection to approval.
Smart chatbot interaction
Provides immediate, seamless responses with context-aware NLP for better customer engagement.
Automated credit check
Provides near instant credit assessments, improving decision making speed.
Smart OCR “Scanily”
AI for Document Verification ensures data accuracy and integrity by checking for discrepancies.
Predictive analytics
Provides detailed risk assessments, which enhances decision-making.
AI based property valuation
Provides accurate property valuations, aligning loan amounts with market values.
Human-in-the-loop (HITL)
Ensures human oversight at key points in AI-driven mortgage decisions.
The AI-driven system delivers near instant pre-approval with minimal manual input, reducing human error and enhancing the user experience.
The outcome.
The design approach emphasizes clarity, showcasing data with a visually sharp UI and bold typography.The AI-driven interface presents loan status in a clean and straightforward manner, ensuring users are always clear on their progress and can easily access essential information.
Efficiency
Significantly cut down the time and effort needed for mortgage pre-approval, making the process faster and easier for both lenders and borrowers.
Accuracy
Guaranteed accurate eligibility assessments, providing confidence and clarity in the mortgage pre-approval process.
User experience
Made the pre-approval process straightforward and stress-free for borrowers.
Scalability
Supported a high volume of applications without degradation in performance.
For lenders and borrowers
Lenders like mortgage companies, banks, and credit unions partner with us to offer seamless mortgage pre-approvals for borrowers, including first-time home buyers and investors.
