Gen H launches AI packaging agent to cut mortgage application delays
The tool checks broker-submitted documents as they are uploaded, flagging potential mismatches that could otherwise result in additional information requests and delays.
Gen H has launched an artifical intelligence (AI) packaging agent designed to identify document errors before mortgage applications reach its underwriting team.
The tool checks broker-submitted documents as they are uploaded, flagging potential mismatches that could otherwise result in additional information requests and delays.
According to Gen H, correctly packaged cases receive an offer in an average of four days, compared with nine days where an underwriter needs to request further information because documentation is missing or incorrect.
The agent carries out three checks on each uploaded file, assessing whether the document relates to the correct applicant, whether it is the correct type of document and whether it covers the required date period.
Where a potential issue is identified, such as a bank statement falling outside the required date range, a flag appears against the relevant upload so the broker can review and correct it before submitting the case.
The tool does not prevent brokers from submitting applications where they believe a document has been incorrectly flagged.
Any flags are also carried through to Gen H’s underwriting system, helping underwriters identify cases that may require further scrutiny and those that appear ready to progress.
One of the first cases processed using the agent involved a 26-year-old self-employed first-time buyer, submitted by Dominic Braim of Fluent Mortgages.
Braim said: “I want to get an offer for my clients as soon as I can, so I take care when packaging my cases. When I uploaded my documents for this case, Gen H Pro gave me a thumbs up right away and it made me feel that much more confident when I submitted.
“The 5-hour turnaround for this case was great, and my client is absolutely thrilled – it was a great experience for them buying their first home.”
Sara Palmer, sales and distribution director at Gen H, said: “Things like names, dates and addresses are so easy to mix up, but these are exactly the kind of issues that can severely delay an application.
“Now, our agent, built by our brilliant product team, spots problems the second the broker uploads a file.
“When cases arrive really well packaged, our underwriters are able to spend more time exercising judgment and evaluating each case on merit, not chasing document requests.
“The result is that our brokers can get certainty for their clients that much faster.”
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