United Wholesale Mortgage in Pontiac and California-based Google Cloud today announced what the companies are calling an “industry-transformative” agreement designed to help modernize the mortgage lending industry through the use of AI.
The collaboration intends to use Google Cloud’s advanced AI and data analytics capabilities alongside UWM’s expertise in technical lending solutions to create a faster, more intuitive, and streamlined process.
Through this agreement, UWM will integrate Google Cloud AI and machine learning tools into its lending platform, enhancing underwriting automation, streamlining document processing and improving client support with AI-driven chat experiences.
UWM is one of the first to leverage Google’s Gemini Flash 1.5 model to enhance underwriting automation, with underwriters already increasing their capacity from underwriting six loans a day to 14.
The partnership also is expected to explore the use of Google Cloud infrastructure to improve scalability and security, ensuring a seamless and expedited mortgage experience for 50,000 mortgage brokers and their borrowers.
“This agreement signals two industry leaders coming together to tackle the mortgage industry’s biggest challenges and deliver innovative solutions,” says Thomas Kurian, CEO of Google Cloud. “United Wholesale Mortgage is at the bleeding edge of generative AI in the mortgage space, and together we are reimagining the home financing journey, making it more efficient and faster for mortgage brokers and homebuyers.”
UWM also will collaborate with Google Cloud to enhance data-driven insights, enabling more personalized loan recommendations and more intelligent tools to instantly identify the right mortgage for a borrower.
“We are incredibly proud to enter into this transformative partnership with Google Cloud as it is a major step forward in our mission to make the mortgage process faster, easier and cheaper,” says Mat Ishbia, president and CEO of UWM. “By combining our mortgage expertise with Google Cloud’s generative AI and cloud capabilities, we will set a new standard for the industry, providing clients with a seamless and intelligent lending experience.”
According to the companies, the partnership underscores the shared commitment of both to drive innovation, modernize financial services, and empower mortgage brokers across America and their consumers with smarter, more efficient mortgage solutions.
