"Reverse mortgage servicing was really built around the hours that human agents had available. And even with our subservicer who has offshore capabilities, that still limits us to Monday through Friday during normal business hours, Packer explained. This truly expands us to be that 24-7 shop that really empowers the borrower to interact with us when they want, because they can now basically interact with us at any time."
"For now, Longbridge is attempting to add this support layer incrementally by having the agentic technology focus on common servicing needs. These include outbound calls to confirm that a borrower still occupies their home and to verify that required home repairs were completed. The AI agent can also help a senior borrower add a family member or friend as an eligible party to transact on their behalf."
Employees and clients have responded positively to early AI agents. Borrowers may opt out of AI interactions and contact a human representative by phone. Reverse mortgage servicing historically depended on human agent availability and customary Monday-through-Friday business hours, limiting responsiveness. AI agents enable 24/7 interaction, empowering borrowers to transact at any time. The rollout focuses incrementally on common servicing tasks such as outbound occupant verification calls, repair completion verification, and adding an eligible third party to transact on a borrower's behalf. Early deployments aim to offload routine work to AI and free human personnel for complex borrower concerns and resource assistance.
Read at www.housingwire.com
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