Data, AI and the Future of Mortgage Technology

2020-09-24T14:28:26+00:00June 18th, 2019|

I recently joined Promontory MortgagePath as a Data Engineer and – for the first time in my career – I’m working in the mortgage industry. I was attracted to the role because of the incredible data- and process-complexity. The almost infinite volumes of data provide both opportunities and challenges. How do we ensure the quality of data – its overall integrity (lineage, security, privacy), accuracy and completeness?. For me, full data transparency and availability are the keys to – and the foundation of – innovative technology solutions. In the mortgage space, the cost to originate a loan has increased dramatically in recent years – from about $3,000 before 2008 to over $9,000 today. Lenders are facing margins that have been stretched so thin their mortgage operations are no longer profitable. And, while it feels like everyone knows technology is the answer, it can be challenging in this climate to drive