Mr. Cooper and Google Cloud are partnering to create a “customer-centric digital mortgage servicing platform powered by advanced automation technologies,” the Mr. Cooper Group announced. The product will use artificial intelligence (AI), machine learning, data analytics, and cloud scalability.
“The mortgage industry is a prime example of how AI can unlock measurable business value and impact the customer experience,” Rajen Sheth, Google Cloud AI and Industry Solutions vice president, said in a release. “The heavily manual practices required in the mortgage process creates a massive drain on the bottom line and overall operational efficiency. We’re thrilled to partner with Mr. Cooper to create solutions to transform this process and make it easier for both the industry and homeowners.”
The companies’ engineers and business leaders will work together to digitize Mr. Cooper’s core mortgage process, create a more personalized customer experience by utilizing conversational AI, and develop services and solutions to transform to mortgage experience for American homeowners.
“Over the last decade, we have made substantial investments in our servicing technology and core mortgage platform that have revolutionized the customer experience, while providing dramatic efficiencies in operating cost,” Mr. Cooper Chairman and CEO Jay Bray said. “Our partnership with Google Cloud AI will build on those advances and help make these technologies available for the industry.
“Our highly scalable, digital platforms have already enabled us to become the nation’s largest non-bank mortgage servicer, with industry leading efficiency,” Bray continued. “Having access to the world class services and infrastructure that Google Cloud will provide will help us accelerate our development plans tremendously.”