AD Mortgage: Mortgage Professionals Anticipate AI Will Be Biggest Driver of Industry Change

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AD Mortgage, Fort Lauderdale, Fla., conducted a survey delving into mortgage professionals’ experience and opinions on the future of the industry.

Overall, 82% of respondents believe AI and automation will be the biggest drivers of change in the industry.

Other factors driving industry change include interest rates (at 57.6%) and borrower behavior (at 33.3%).

Respondents gave details on their use of AI, most frequently listing research (at 55.7%), marketing content (at 45.1%) and guideline interpretation (at 43.5%). Mortgage professionals anticipate that AI will primarily be used to automate tasks such as CRM follow-ups (53.3%), data entry (44.7%) and document collection (40%).

On the other hand, respondents believe trust and relationships will remain human-driven. The majority–74.5%–said that building trust is the top area where human expertise is essential, followed by relationship management at 69% and negotiations at 48.2%.

Relationship building was selected as the “most important factor for future success” at 82%, followed by technology and AI at 58.4%. Relationships were also listed as the top competitive advantage in the AI era, at 27.8%, followed by trust at 22.7% and speed at 17.6%.

Mortgage professionals report preparing for the future by learning AI tools (60%), social media (45.5%) and remote client communication (38.4%.) And adaptability was listed as the defining trait of future top performers, at 36.1%.

“Across nearly every question, respondents came back to the same answer: trust, relationships, and communication remain the foundation of long-term success,” AD Mortgage Max Slyusarchuk CEO said. “The future of mortgage lending will be powered by technology, but it will continue to be built on people.”