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  • Writer's pictureRebecca Richardson - Mortgage Consultant

Will AI decimate the mortgage industry?

Will AI decimate the mortgage industry?

When the going gets AI, the tough get going Rebecca Richardson, of UMortgage – the self-described “Mortgage Mentor” – has already embraced AI, and she didn’t appear ill at ease or anxiety-ridden for having done so. When asked, will AI decimate the mortgage industry?

“On our team we are using AI in several ways so I’d say we are adopters of it but there’s so much more to explore,” she told MPA. “While there are some areas of concern if AI isn’t used or developed responsibly, I view it as most other tech advances and enjoy finding ways to implement it to be more efficient.”

It all depends on the product or service being performed: “For clients that fit the mold of a Day One Certainty file, for example, their need for high touch personalized service by a mortgage professional is likely to be less,” Richardson said. “However as personal finance situations become more complex the need for an SME increase.” It’s a brave new world, indeed. But at day’s end, humans will play the central role. Don’t panic. By Tony Cantu

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