"Today is a good day to ask the question why is this time different? Sure, AI is as transformational to work as the Internet was to communication. As a result, it is easy to assume our companies and partners will all jump at the chance to harness the benefits of on-demand answers to almost any question through large language models and/or the ability to contextualize information, data and documents through agentic AI."
"Dig in beyond the hype, however, and adoption of AI starts looking more and more like adoption of every other advancement in the industry. Fannie Mae's roadmap for eClosing adoption was first printed on a three-ring binder and distributed on a VHS (I've seen it!) in the late 90s and we're still struggling to get eNote adoption in 2025. A similar story plays out in document ingestion, direct source data collection and appraisal modernization."
ChatGPT's mainstream launch triggered an industry-wide AI hype cycle in mortgage. AI promises transformational change comparable to the Internet for work and communication. Historical mortgage technology initiatives have faced slow and uneven adoption. Examples include Fannie Mae's eClosing roadmap printed on VHS and lingering eNote adoption in 2025. Large investments in OCR failed to deliver direct bank or asset data integration, while fintechs like Plaid achieved capabilities OCR could not. AI vendors claim solutions across the mortgage ecosystem, with outcomes ranging from wasted spending to full business transformation. Three factors will determine adoption and ROI, beginning with knowing the customer and ensuring product-market fit.
Read at www.housingwire.com
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