Artificial intelligence helps break barriers for Hispanic homeownership
The bilingual AI platform helps loan officers match Hispanic buyers with over 150 lenders, improving application speed and clarity amid language and documentation challenges, experts say.
- Some mortgage experts are using artificial intelligence to help Hispanic homebuyers with loan applications, according to the nonprofit Hispanic Organization of Mortgage Experts.
- The nonprofit Hispanic Organization of Mortgage Experts launched an AI platform built on ChatGPT to help loan officers access lender requirements efficiently.
- The AI platform addresses complex borrower situations, such as those without a Social Security number or little credit history.
- Experts state that while AI is useful, it does not replace the human professionalism needed in the mortgage process.
35 Articles
35 Articles
AI helps Hispanic families navigate homeownership hurdles
KEY TAKEAWAYS: Bilingual AI platforms help loan officers serve Hispanic and underserved buyers AI streamlines applications, matching buyers with over 150 lenders efficiently Programs assist borrowers without SSNs, credit history, or on visas Mortgage experts emphasize AI support while maintaining human oversight for accuracy For many Hispanics the road to homeownership is filled with obstacles, including loan officers who don’t speak S…
Artificial Intelligence Helps Break Barriers for Hispanic ...
Artificial Intelligence Helps Break Barriers For Hispanic Homeownership – 710am KURV
By FERNANDA FIGUEROA Associated Press For many Hispanics the road to homeownership is filled with obstacles, including loan officers who don’t speak Spanish or aren’t familiar with buyers who may not fit the boxes of a traditional mortgage applicant. Some mortgage experts are turning to artificial intelligence to bridge the gap. They want AI to help loan officers find the best lender for a potential homeowner’s specific situation, while explain…
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