Home Lending Pal leverages AI and machine learning to efficiently solve lenders’ and borrowers’ problems

To be successful, lenders have to rely on mortgage lead generation to find potential borrowers. But generating leads isn’t an easy process, especially if businesses depend on older methods to produce results. 

Home Lending Pal (HLP) has an anonymous marketplace that uses conversational intelligence, machine learning and blockchain to help first-time homebuyers through the home research and lending process. HLP helps banks, credit unions and non-bank lenders lead with transparency by automating and digitizing the process.

“Our AI captures data at scale, reduces human capital, and improves efficiency and effectiveness to signal high-quality leads that will close fast,” said Steven Better, Home Lending Pal COO & co-founder.

It’s no secret the housing market is hot right now. Even though home prices are on the rise, low interest rates make purchasing a home an attractive option. And while this is great news for borrowers, lenders have to work hard to stand out among the competition and produce leads that will end in closings. 

Some mortgage professionals are generating leads that are only being paired based on cost-per-lead budget instead of how well they fit into mortgage overlays. On top of this, most vetting of the lead is being done by the lender, which often requires the borrower to submit the same information multiple times.

Mortgage businesses need to lead with a digital-first experience that delights customers even on third party marketplaces. Home Lending Pal’s marketplace leverages artificial intelligence, data science and machine learning to automate manual tasks and to create a better experience. By integrating digital platforms, borrowers can get personalized insight with little to no human interaction. 

“With our solution, potential borrowers gain deeper insight into the possible outcome of a mortgage application on a home without a negative impact, a significant time commitment, sales pressure or potential embarrassment,” said Bryan Young, Home Lending Pal CEO and co-founder.

Home Lending Pal’s AI-powered mortgage advisor simulates underwriting to determine mortgage approval odds, makes affordability recommendations, and solves borrowers’ and lenders’ problems. The pairs are based on mortgage overlays and allow potential borrowers to select which lenders they would like to work with based on service quality and approval likelihood, not just marketing spend.

“Unlike other solutions, HLP’s direct-to-consumer focus allows it to build, validate and attest consumer financial and credit information before connecting them to mortgage lenders. Borrowers can research privately before submitting all documents needed for underwriting electronically through the HLP platform,” said Joey Barrow, Chief Mortgage Officer at Home Lending Pal.

Home Lending Pal removes human biases to provide transparent and objective information that advocates for the borrower in the lending process.