PRMG Adopts AI Technology to Offer Communication and Support When It’s Needed Most!

March 1, 2022, BY Paul Lucido, PRMG Chief Marketing Officer

PRMG AI technology deflects more than 950 questions a week—saving employees time by providing instant answers to their questions. Keep reading to discover how!

Let me start by saying, instant gratification has become the expectation, rather than the exception. It is the new norm. Today, consumers expect responses to their questions or concerns quickly, if not immediately. This same rule of expectation applies to employees within an organization.

As a company grows and scales, it requires the adoption of cutting-edge technology to keep up with the speed of business. It is commonly known that the adaptation of technology can have a direct impact on a business by successfully improving their communication processes. For example, emails, SMS texting, websites, and apps, facilitate improved communication between both B2B and consumers. Using several types of information technology and communication methods enable companies to saturate the economic market with their message. Companies may also receive more customer feedback via electronic surveys and various communication methods, reaching consumers through mobile devices in a real-time format.

Let’s circle back to employees within an organization.

Technology also serves to improve interoffice communication. For example, intranet software like Microsoft Teams and Slack gives employees a communal workspace to chat and video conference along with file storage capabilities and application integration. SharePoint gives employees a centralized hub to access and update internal documents and contracts, and relay relevant data to other departments instantly–in real time.

While it has been said, ‘don’t lead with tech, rather leverage tech’, it is becoming more and more apparent that sometimes you do need to lead with tech. This is especially true when using it as a first line of defense within a growing organization.

Artificial intelligence is proving to be a game-changer across many businesses and organizations. Many modern Fintech companies operating in the mortgage space have adopted AI for enhanced efficiency, intercommunication, and high-speed query resolution. PRMG is no exception. Along with embracing a multitude of endorsed platforms, PRMG has implemented the idea of integrating AI technology into their robust tech stack. How we adapt it, and how we leverage it for all our employees is paramount to creating efficiencies throughout the entire organization and more importantly, in keeping up with the speed of business.

Meet MOBi, PRMG’s new AI technology!

MOBi allows employees to find answers quickly by using artificial intelligence. Now, originators and team members of the organization can get up to speed quicker than ever before. With its unique machine learning software, the more questions you ask, the smarter MOBi gets and can provide users with the answers they need in an expedient fashion!

When it comes to content, MOBi can answer questions in the following areas, including but not limited to Appraisals, HR, Ops Support, Compliance, PALS, Payroll, QC, IT, Secondary, Training, National Marketing, Select Product Profiles, Resource Center Forms, Digital Lending and Marketing, Servicing, Funding, Post-Closing, Licensing, Social Media Compliance, Vendor Management, TPO Approvals, Correspondent and more!

MOBi also embraces the idea of using a natural language feature when being asked a variety of questions.

Examples include:

• What is the maximum loan amount allowed?
• What are Fannie Mae’s requirements for appraisal waivers?
• What is the minimum loan amount?
• When do we get paid?
• What is the PRMG holiday schedule for the year?
• How do I document child support?
• What is required for alimony?
• Do you allow recasting?
• What are your lock policies?
• What are your turn times?
• What are your lock desk hours?
• How do I obtain Total Expert Credentials?
• What’s the cost of Bomb Bomb?
• Blend Office Hours?
• How do I obtain Brand Guidelines?
• How do I upload my contacts?
• How do I get access to our Facebook page?

and much more!

In the event MOBi is unable to find an immediate answer to a question or navigate the user accordingly, it allows the user to submit automated feedback to the support team who will review it and help update MOBi as needed for future inquiries. “We are creating support and training solutions at scale by documenting the collective knowledge of all PRMG’s subject-matter experts and delivering that knowledge in an intuitive and accessible interface. PRMG continues to push the boundaries of what is expected by adopting best-in-class technology to serve the entire organization”, said Robin Clayton, Director of Digital Lending and Marketing.

Again, the idea behind MOBi is to help the entire organization field questions as quickly as possible and navigating folks accordingly. While it is not an end all be all solution, MOBi currently fields more than 950 questions a week, saving PRMG teammates time by providing instant answers to their questions.

As we like to say “Many hands make light work” and MOBi is one of them!

For over two decades, Paramount Residential Mortgage Group, Inc. continues to be a leading lender in the mortgage industry. In recent times, PRMG has positioned itself competitively as a leader of technology in the mortgage space. Furthermore, being a privately held residential home lender, PRMG has successfully helped thousands of borrowers and families purchase and refinance their homes throughout the United States.

Cheers to Honoring our Legacy and Pivoting to the Future!

–Paul Lucido, PRMG Chief Marketing Officer

plucido@prmg.net