Compass Mortgage’s Post

Fair Housing Month discussion on the findings of a groundbreaking study on how AI can be harnessed for both accuracy & fairness in mortgage decisions. The April 25th webinar titled "Unlocking Fairness in Mortgage Decisions: A New AI Methodology” is presented by the National Fair Housing Alliance (NFHA) in collaboration with FairPlay AI, whom are both architects behind the study. The report & webinar will explore the limitations of traditional algorithmic fairness techniques & why they can lead to accuracy-fairness tradeoffs. Experts will also discuss an innovative approach called Distribution Matching (DM) that shows promise in reducing underwriting & pricing disparities without sacrificing model accuracy. There will also be conversations on recommendations for future research to expand upon these findings. Register for this event & share with your networks.  Event Details: Date: April 25, 2024  Time: 3:00 pm – 4:30 pm  Registration Link: https://bit.ly/3Q4DHZX

Watch the video for 6 key Mortgage Broker challenges 👇 AMI your AI assistant can help! Launching on 15 May 2024! DM the word ‘AMI’ to learn more. #ai #mortgagebrokers #mortgagebroker

We're excited to see the smiling face of our customers and partners in mortgage at ICE EXPERIENCE 2024 (ICE Mortgage Technology) next week at the Wynn in Vegas. Visit us at booth 16! We'll be sharing customer success stories and sharing demos of how we're using advanced AI assistants to help our mortgage customers generate leads, manage risk and reduce cost to serve. #iceexperience #mortgagetech #generativeai #aiassistants #conversationalai

𝗧𝗵𝗲 𝗞𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲 𝗖𝗼𝗼𝗽'𝘀 𝗹𝗮𝘁𝗲𝘀𝘁 𝗞𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗶𝘀 𝗼𝘂𝘁! Unlock the future of the mortgage industry! Our latest Knowledge Insights Report, "The Role of AI in Revolutionizing the Mortgage Industry," reveals how AI is reshaping mortgage processing, enhancing efficiency, and setting the stage for what's next. 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿 𝗸𝗲𝘆 𝘁𝗿𝗲𝗻𝗱𝘀 𝗮𝗻𝗱 𝗵𝗼𝘄 𝘁𝗼 𝘀𝗮𝘃𝗲 𝘁𝗶𝗺𝗲 𝗮𝗻𝗱 𝗺𝗼𝗻𝗲𝘆 𝘄𝗶𝘁𝗵 𝗔𝗜! Download the white paper here: https://lnkd.in/gWCb8xrr #AI #MortgageIndustry #Innovation #KnowledgeInsights #CoopAI

Great read on where AI is taking the mortgage industry and how its already impacted it! Enhanced efficiency is just one of the benefits of our AI-powered guideline search tool, Coop AI ✨

AI may not replace you, but someone leveraging AI might replace you. 🤖 AI is transforming the mortgage industry, and in our latest Market Shares episode with Ken Perry, we delve into our predictions and strategies for navigating the AI revolution in the years ahead. Check out the full episode here: https://bit.ly/43Qijgw! #AIinMortgage #FutureofFinance #MarketSharesPodcast #MortgageProfessionals #IndustryInsights #EntrepreneurshipJourney #AIinMortgage #BusinessStrategies #MarketShifts #RecessionPredictions #KenPerryInterview #MortgageTrends #FutureofMortgages #AdaptingtoChange #EvolvingIndustry #TheKnowledgeCoop #RealEstateTrends #MarketAnalysis #BusinessGrowth #MarketShares #NewAmericanFunding #MortgageAdvice

Who isn't talking about artificial intelligence these days? Continue the conversation during our "Use of AI in the Mortgage Industry and the Evolving Regulatory Landscape" panel. #MBALIRC24

Excited to be at the Mortgage Bankers Association Secondary Conference in New York! 🌆 Ready to reunite with #mortgage industry friends and colleagues. Let’s connect and explore how Gallus Insights can help you leverage the full power of #data to make better and faster decisions for superior business outcomes. Dive into data, #AI, and the latest in technology with us! 🚀 #MBASecondary #MortgageLending #BusinessIntelligence

It all comes down to character. Even after we analyze borrowers with AI, over-underwrite, over-document and over-regulate the mortgage process, the entire industry is based on the character of the borrower. According to Zillow, 75% of new homeowners regret their purchase. We are approving loans with 45-50% DTI. That means that many buyers are living on 20-30% of their income. That portion of their income has to pay for everything they need/want beyond their mortgage payment. With increasing home prices taxes will increase and insurance rates are climbing at an alarming rate. The good news is that with the limited supply and increasing prices, most homeowners can exit their home easily if they need financial relief. What happens when prices start decreasing? What happens when the economy contracts? Some will not be able to make their payments or sell their homes. The system is built to absorb these financial cycles. But what about the homeowners who can make the payment by making other financial sacrifices, will they? What is my point? That no matter who advanced our technology gets, no matter how fine-tuned out algorithms get, it is good to remember that our economic system is dependent upon people of character honoring their commitments.

AI in the real estate and mortgage industries is not just a passing trend - it's here to stay! With advancements in technology, AI has revolutionized the way we buy and sell properties, making the process more efficient and convenient for both buyers and sellers. From virtual tours of homes to automated underwriting processes for mortgages, AI has simplified tasks that used to be time-consuming and tedious. Additionally, AI can analyze vast amounts of data to predict market trends, helping real estate professionals make informed decisions. So next time you're browsing listings or applying for a mortgage, remember that AI is playing a crucial role behind the scenes, making the experience smoother and more seamless than ever before. #AI #realestate #mortgage