Mortgage
capital
markets
tech
firm


Polly
announced
on
Tuesday
that
it
has
launched
“Polly/AI,”
which
integrates

artificial
intelligence
(AI)
technology
into
the
newest
version
of
its
product
and
pricing
engine
(PPE)
and
includes
a
“co-pilot”
for
loan
officers
that
will
“process,
interpret,
and
recommend
a
range
of
outcome-driven
results.”

The
PPE
system
is
native
to
the
cloud
and
is
described
by
the
company
as
“commercially
scalable”
through
a
series
of
customizable
options.
The
new
Polly/AI
offering
is
currently
in
closed
beta
testing
among
users
at
some
of
the
nation’s
largest
mortgage
lenders,
according
to
the
company,
which
includes


New
American
Funding
and


Movement
Mortgage.

Polly
listed
several
highlights
of
the
new
product
and
the
AI
copilot,
including
explanations
for
why
a
specific
borrower
is
ineligible
for
a
certain
product
and
actions
they
might
be
able
to
take
to
change
that
status;
and
a
detailed
examination
of
“near-miss”
eligibility
and
loan-level
pricing
adjustments
(LLPAs).

Other
highlights
include
directly
requesting
a
“best-fit”
product
for
an
applicant
drawn
from
the
PPE
using
conversational
language,
as
well
as
using
the
same
natural
language
functionality
to
streamline
associated
workflows,
the
company
explained.

Kristin
Ankeny
Bickenbach,
executive
vice
president
of
secondary
marketing
at
New
American
Funding,
said
in
a
news
release
that
the
AI
functionality
makes
a
difference
in
her
company’s
interactions
with
Polly’s
pricing
engine.
She
expects
the
AI
platform
to
“deliver
incredible
ROI
and
value
to
New
American
Funding.”

Lyra
Waggoner,
chief
information
officer
at
Movement
Mortgage,
noted
that
the
LO
co-pilot
allows
the
company’s
loan
officer
corps
to
reduce
administrative
work
and
find
optimal
products
for
clients.
Waggoner
added
that
she
is
intrigued
to
see
how
the
AI-based
tools
can
impact
Movement
“from
origination
through
capital
markets.”

Polly
founder
and
CEO

Adam
Carmel
said
that
the
company
is
in
“constant
communication
with
leading
AI
companies”
as
it
determines
the
best
applications
for
the
burgeoning
AI
sector
in
the
mortgage
industry.

“We
are
thrilled
to
provide
LOs
another
advancement
that
will
transform
how
they
do
business
and
accelerate
their
wins,”
Carmel
said.
“We
recognize
the
limitless
possibilities
of
AI
to
transform
our
industry
for
the
better,
and
are
committed
to
delivering
the
innovations
that
drive
value
and
ROI
for
mortgage
lenders
and
borrowers
alike.”

The
company’s
products
are
all
“compliant
with
the
internationally
recognized
auditing
standard
of
System
and
Organization
Controls
(SOC)
for
Service
Organizations
designed
by
the

American
Institute
of
Certified
Public
Accountants
(AICPA),”
the
news
release
stated.

The
announcement
of
the
AI
functionality
improvements
follows
a
series
of
other
announcements
made
by
Polly
in
March.
This
includes

a
partnership
with

CoreLogic
on
advanced
programming
interface
(API)
integration
that
is
designed
to
“streamline”
digital
mortgage
processes,

as
well
as
the
launch
of
its
Lender
Intelligence
platform.

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