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Artificial Intelligence Improves Profitability, Efficiency, and Customer Experience

Mortgage lenders have been increasingly reporting tighter margins as costs rise for each actual loan transaction.  In the last few years the principal reason behind this as revealed in Fannie Mae's quarterly Mortgage Lender Sentiment Survey has been increased competition for customers. As the demand for refinancing has fallen, purchase originations have not yet been able to pick up the slack, exacerbating the situation. The survey has found lenders are working to improve efficiency to cut the cost part of the profit equation.

 

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