Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Gen H Doubles Mortgage Offers at First Underwrite After AI Enhancements
Gen H has doubled the number of mortgage applications that receive an offer during the first session of underwriting. This follows enhancements to broker tools aimed at improving the quality of application packaging.
The lender reported that the number of cases offered in the same session, specifically those considered to have medium-to-high complexity and requiring greater underwriter scrutiny, increased by 10%. These improvements were achieved through collaboration between Gen H’s engineering and underwriting teams.
The enhancements were driven by an artificial intelligence (AI) agent, which was fed six months of underwriter requests to identify common issues. Fixes included new input fields for eVisa share codes, children’s ages for dependants, and deposit accumulation evidence. When additional evidence is required, the system now requests information upfront where possible, reducing the need for repeated communication.
As a result of these changes, more brokers are receiving mortgage offers in less than two days. Year to date, one in four cases at Gen H have received a one-touch underwrite.
These developments may be of interest to UK letting agents and inventory clerks, as faster mortgage processing can impact transaction timelines and property availability.
Source: Mortgage Solutions