The AI loan officer assistant, which the company has named Mia, was developed by UWM’s in-house technology team. It can answer inbound calls, make outbound calls, ask and answer questions, take messages, schedule appointments, and collect callback information.
“It can do 100,000 concurrent calls at a time,” Ishbia said. “For a small loan officer who’s done four loans a month for the last three years, that’s 144 loans in three years. If rates drop next Thursday to 5.75%, all 144 of those loans should be refinanced. What does a normal loan officer do? They’ll call nine of them. They’ll wait for seven others to call in. That’s 16 of them, and they’ll write 10 loans. They usually do four, and they do 10, so things are great.
“What Mia will do that day is call all 144 of them for you. Out of those, maybe 19 are interested in and schedule a meeting with you the next day. And you’ll get a summary of every single call that was made. So overnight, brokers become competitive.”
The company emphasizes that brokers won’t have to worry about missed calls or stepping away from work to attend family functions. Brokers will receive a dedicated phone number for all communication and marketing touchpoints, and can customize Mia’s name to fit their needs.
Part of the partnership with Google
Jason Bressler (pictured top), chief technology officer at UWM, was the head of the in-house team that developed the project. He notes that even their new partners at Google weren’t sure UWM would be able to develop this as quickly as they did.