Newrez Supercharges Homeownership Experience using AI in Collaboration with Microsoft©

FORT WASHINGTON, Pa.--(BUSINESS WIRE)--Newrez LLC (“Newrez”), a leading national mortgage lending and servicing organization, has announced a groundbreaking partnership with Microsoft© leveraging cutting-edge artificial intelligence (AI) to deliver a best-in-class mortgage and homeownership experience for its customers.

The collaboration kicked off in Q4 2023 with a roadmap that includes generative and predictive AI initiatives for customer engagement, operational efficiencies, and real-time customer feedback analysis.

“AI will help us reimagine how we serve our customers and run our business. We have access to a tremendous amount of data regarding customer behavior, products, and markets – we have only begun to scratch the surface on the applications of this technology to fundamentally change the mortgage customer journey. The projects in this initiative empower our customers to engage us at any time and place while allowing Newrez to operate more effectively and efficiently,” said Kedar Sathe, Chief Information Officer at Newrez.

Leveraging the power of Microsoft Azure OpenAI© Service unlocks exciting possibilities, including:

• Reimagining originations and servicing: AI can analyze customer data and preferences to recommend suitable products, ensuring customers make informed decisions.
• 24/7 customer support: AI-powered chatbots and virtual assistants can provide instant assistance to customers anytime, anywhere.
• Proactive risk mitigation: AI can identify potential issues early on and suggest preventive measures, helping customers avoid financial difficulties.

The partnership between Newrez and Microsoft© marks a significant step forward in the use of AI in the mortgage industry. By leveraging the power of AI, Newrez is poised to deliver a dynamic and personalized mortgage experience for its customers, helping them achieve the dream of homeownership with greater ease.

About Newrez

Based in Fort Washington, Pennsylvania, Newrez is a leading mortgage company, dedicated to reimagining the homeownership journey. Combining mortgage origination and servicing, we are uniquely positioned to offer a streamlined, customer-centric experience, catering to our clients when and where they need us most. Our customer-first strategy empowers homeowners to optimize their investment, guiding them towards the most beneficial financial decisions every step of the way.

© 2024 Newrez LLC, 1100 Virginia Dr., Ste. 125, Fort Washington, PA 19034. 1-888-673-5521. NMLS #3013 (www.nmlsconsumeraccess.org). Doing business as Newrez Mortgage LLC in the state of Texas. Alaska Mortgage Lender License #AK3013. Arizona Mortgage Banker License #919777. Licensed by the Department of Financial Protection & Innovation under the California Residential Mortgage Lending Act. Loans made or arranged pursuant to a California Finance Lenders Law license. Massachusetts Lender #ML-3013. Licensed by the N.J. Department of Banking and Insurance. Licensed Mortgage Banker-NYS Banking Department. Additional licenses available at www.newrez.com.