Gateless Smart Underwrite earns AZP Platinum AI certification

AZP Insurance Specialists announced that it has awarded its highest certification to Gateless Smart Underwrite, an artificial intelligence-driven mortgage underwriting platform. Gateless is the first technology provider certified under AZP’s AI Mortgage Technology Certification framework and received the Platinum designation, the highest of four certification levels, AZP said. The framework evaluates AI and advanced technology providers serving the mortgage industry, with a focus on governance, controls, auditability, operational maturity and risk management. For qualifying technologies and transactions, it also provides a pathway to separately underwritten insurance-backed protection for certain representation-and-warranty risks, including covered repurchase losses. AZP said its predecessor organizations have placed rep-and-warranty insurance on more than 5 million mortgages representing more than $2 trillion in principal balance. The insurance-backed protection is provided through a Lloyd’s of London policy underwritten by Munich Re, subject to underwriting requirements and policy terms. Gateless’ Platinum certification also reflects the performance of more than 230,000 loans man...