Rocket Mortgage, a division of Rocket Companies (NYSE: RKT), announced an update to its Pathfinder tool, an artificial intelligence (AI) and machine learning-powered search engine used by mortgage bankers, brokers and underwriters.
A new AI chat interface in Pathfinder is being tested to help mortgage bankers and brokers answer client questions. According to the company, this test has preliminarily resulted in a 69% increase in speed to resolution, compared to the current process. Rocket is now using large language models (LLM) and is currently adding more than 3,300 new loan scenarios to Pathfinder, with the goal of helping loan officers provide resolutions for their clients with speed and confidence.
Pathfinder collects 75,000 data points each day that Rocket can use to train the tool to be even more effective, the company added.
“Pathfinder has been an invaluable tool for curating complex data and transforming it into knowledge engineering,” said Brian Woodring, chief information officer of Rocket Mortgage. “This technology, and others that leverage advancements in AI and machine learning, are truly evolving how we can facilitate homeownership.”
