AI adoption among mortgage lenders more than doubled from 2023 to 2025, increasing from 15% to 38% of companies. Servicers using AI reported 30% to 50% reductions in customer service costs and 25% to 40% decreases in document processing expenses. Different servicers face different data, budgets, and operating models, making it difficult to determine where to begin. A readiness assessment approach evaluates current technology, capabilities, and near-term needs, then maps goals for six months, one year, or further out. Examples include AI inquiry resolution with high resolution rates, document classification and data extraction at scale, earlier default risk identification, and fraud detection that reduces review timelines from weeks or months to seconds.
"AI adoption among mortgage lenders more than doubled between 2023 and 2025, rising from 15% to 38% of companies. Servicers using AI are reporting 30% to 50% reductions in customer service costs and 25% to 40% decreases in document processing expenses, the report noted."
"No servicer is the same when it comes to the way they do business. They have different data, they have different budgets and sizes, so when we look at the overall thought process and things that the servicers are looking at, they don't know where to get started."
"What we do is a foundational assessment of readiness to implement AI, and that's generally to understand what the big needs at the moment are, what [their] technology looks like, current capabilities, and where [they] want to be six months, one year or further down the road."
"It said a pilot program at BSI Financial Services achieved a 73% resolution rate for AI-handled inquiries and reduced weekly calls to human agents by 400. Rocket Mortgage was also cited for processing more than 1.5 million documents per month using generative AI tools that automatically classify forms and extract data fields."
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