AI-Driven Mortgage Underwriting and Efficiency Gains
UWM has invested heavily in AI technology, notably the BOLT underwriting system, which enables loan officers to process 2-3x more loans per day than competitors.
Management emphasized that AI is actively improving loan quality and operational efficiency, with tangible impacts seen today.
Introduction of ChatUWM, an AI chatbot similar to ChatGPT, used by brokers for quick access to guidelines and resources, enhancing productivity.
Mia, an AI loan officer assistant, is operational and helping brokers increase loan volume by making outbound calls, setting appointments, and staying in front of borrowers.
Mia's deployment has led to a significant increase in repeat business, with 97% of consumers giving a 5-star review, and the company aims to increase broker recall from 10% to potentially 50%.
Management highlighted that AI tools are not future plans but are actively impacting business performance in 2025.
We did about $12.4 billion of refi volume, which is double what we did last year's second quarter and represents about 11% of the volume in the industry.
Dafinchi