The promise and risk of AI in mortgage lending and secondary markets

Artificial intelligence is creating opportunities to automate labor-intensive mortgage processes, analyze more data and reduce the amount of manual work required across the loan lifecycle. But in an industry where inaccurate information can create consequences for borrowers, lenders and secondary-market investors, implementation requires more than simply choosing an AI model and putting it to work. Julia Curran, senior managing director of residential AI products at SitusAMC, has spent more than 40 years in mortgage banking across origination, secondary markets, servicing and technology. Curran discusses why mortgage companies need to understand the differences between AI models, how rigorous mortgage AI testing should work and why subject-matter expertise and human judgment remain critical as adoption expands. HousingWire: AI is often discussed as a single technology, but you’ve emphasized that not all AI is the same. What should mortgage leaders understand when evaluating it? Julia Curran: Our market is very niche, and what we need AI to do is complex. It’s not just extracting data or summarizing servicing comments. Leaders must be sure to include their subject matter experts whe...