Lender
insights

Dan
Jones,
MMI’s
chief
technology
officer,
said
during
an
exclusive
demo
of
the
product
with

HousingWire
that
MMI
users
can
ask
questions
like,
“Which
lenders
gained
the
most
purchase
volume
in
California
last
quarter?”
They
can
even
get
answers
about
their
own
production,
such
as,
“What
is
my
retention
by
month
for
the
past
five
years?”

The

AI-powered
chatbot
is
powered
by
MMI’s
mortgage
intelligence,
which
includes
500
million
origination
records
spanning
25
years,
more
than
8
terabytes
of
data,
and
real-time
insights
across
more
than
150
million
properties
and
3,000
counties.

“With
ChatMMI,
we’re
making
all
of
that
data
and
intelligence
even
more
accessible,”
Jones
said.
“It’s
like
having
a
24/7
data
analyst
who
understands
mortgage
—
and
speaks
your
language.”

Jones
said
that
the
chat
history
saves
and
updates
with
the
latest
data
automatically,
making
the
experience
“personalized”
for
users.

The
chatbot
can
field
questions
and
queries,
including
the
identification
of
top
lenders,

loan
officer
rankings,
broker
wallet
share
and
mortgage
retention
rates.
LOs
can
even
ask
MMI
which
clients
in
their
book
of
business
have
the

greatest
potential
to
refinance.

“It’s
one
of
these
exciting
launches
where
you
never
really
know
how
a
product’s
going
be
used,”
Jones
said.
“Like,
it’s
always
kind
of
intriguing,
and
sometimes
it’s
different
than
you
expected.

“But
when
you
then
layer
in
an
AI
product,
it’s
even
kind
of
a
little
bit
more
exciting
because
you
want
to
see
what
types
of
questions
people
can
ask,
which
gives
us
visibility
into
how
the
system
what
the
system’s
receiving
from
users,”
Jones
explained.

‘Fine-tuned’
data

The
tool
is
the
latest
addition
to
MMI’s
unified
mortgage
technology
solution,
which
includes
MMI
Data
Center,


Bonzo
and


Monitorbase.
Jones
said
that
while
ChatMMI
will
integrate
with
Bonzo,
it
can
integrate
with
other
customer
relationship
management
(CRM)
platforms
chosen
by
users.

The
company
plans
to
offer
ChatMMI
at
no
additional
cost
to
existing
MMI
users.
Later
this
year,
it
plans
to
launch
Pathways
Home,
a
platform
that
combines
MMI’s
best
products,
for
less
than
$100
a
month.

“We’ve
always
focused
on
giving
our
clients
the
best
data,”

Ben
Teerlink,
founder
and
CEO
of
MMI,
said
in
an
interview.
“ChatMMI
is
about
giving
them
faster
access
to
it.
No
filters,
no
exports,
no
manual
work
—
just
the
insights
they
need,
when
they
need
them.”

Teerlink
emphasized
that
ChatMMI
goes
beyond
standard
AI
chatbot
offerings.

“There’s
been
mortgage
data
out
there
for
years,
you
know?
I
mean,
before
we
even
started
creating
MMI,
you
could
buy
the
bulk
data
from
a
handful
of
large
data
providers
in
the
industry,”
he
said.
“But
I
think
what
makes
us
unique
is
that
we
created
a
product
that
allows
you
to
get
all
the
way
down
to
the
individual
loan
officer
and
to
all
the
information
specific
to
them.
We
haven’t
had
a
county
in
the
country
where
we
haven’t
had
a
loan
officer
utilize
our
MMI
products.

“I
think
what
gives
ChatMMI
such
an
advantage
is
…
we
have
incredible
data
that
we’ve
fine-tuned
for
years,
so
instead
of
just
plugging
a
chatbot
into
the
big
data
that
you
can
buy
anywhere,
we’ve
plugged
it
into
something
that
we’ve
been
perfecting
for
years.
Now
you
can
dig
into
it
and
ask
it
questions
that
you’ve
really
never
been
able
to
uncover
because
of
what
it
can
compute,
and
also
how
accurate
the
data
is
that
it’s
pulling
from.”

Teerlink
said
that
his
and
Jones’s
industry
experiences
are
what
drove
the
development
of
ChatMMI.

“I
started
in
the
industry
as
an
agent.
The
Bonzo
guys
started
in
the
industry
originating
loans.
Dan
Jones
has
been
in
the
industry
for


Rocket
and
their
data
for
17
years.
MonitorBase
has
been
in
production
doing
loans.
And
we’re
all
still
involved,”
he
said.

“I
think
so
much

tech
ends
up
missing
what
originators
actually
need
today.
And
I
think
we
really
come
at
it
with
that
in
mind,
of
like,
we
know
what
is
needed
and
we
build
it
that
way.”