Rocket Mortgage has announced continued advancements to its Pathfinder tool, an AI and machine learning-powered search engine used by mortgage bankers, brokers and underwriters to confidently find the answers to complicated qualification or loan processing questions.
Pathfinder ensures those who originate and process home loans have all the information needed at their fingertips. Instead of thumbing through emailed guideline updates, printed reference pages, handwritten notes or tapping into their personal experience, in mere seconds loan officers can search Pathfinder’s unmatched 400,000 pieces of content, according to a release.
“Pathfinder has been an invaluable tool for curating complex data and transforming it into knowledge engineering. This technology, and others that leverage advancements in AI and machine learning, are truly evolving how we can facilitate homeownership,” said Brian Woodring, chief information officer of Rocket Mortgage.
Rocket Mortgage stated they were the first lender to release a searchable home loan knowledge database three years ago—simplifying the nuanced home loan process. At the time, Rocket started working on a machine learning framework for natural language processing—which increased Rocket’s speed and efficiency in answering client questions without additional follow up by 20%. Rocket then continued to advance its technology and now uses its own custom Google AI search, which helped Pathfinder surpass the previous milestone by another 9%.
Rocket stated they are also testing a new AI chat interface in Pathfinder to help mortgage bankers and brokers answer client questions. This test has preliminarily resulted in a 69% increase in speed to resolution, compared to the current process. With that success, Rocket is supercharging the Pathfinder experience using large language models (LLM) and is currently adding more than 3,300 new loan scenarios to help loan officers provide resolutions for their clients with speed and confidence.
For more information, visit https://www.rocketmortgage.com/.