Maxwell Introduces AskMax, an AI Tool That Transforms the Way Lending Teams Access Mortgage Data
To remain efficient and improve profitability, lenders need real-time data to inform process improvements
Maxwell’s AskMax feature leverages artificial intelligence to act as a data concierge, providing instant answers to loan-related questions in straightforward, plain language
DENVER, Colorado. April 24, 2024. Today, leading mortgage fintech solutions provider Maxwell introduced AskMax, an AI-powered feature within its business intelligence solution that makes mortgage analytics highly accessible to lending teams. Acting as a data concierge, AskMax offers instant answers to loan-related questions in easy-to-understand language with accompanying graphs and tables. AskMax leverages the lender’s own data to analyze, track, and share insights that can help to streamline operations and improve the bottom line.
Across industries, artificial intelligence is transforming efficiency, operating expenses, and customer acquisition strategies. Mortgage lending in particular will dramatically benefit from AI’s game-changing abilities. Data insights present a major area of opportunity. Much of the mortgage industry still relies on spreadsheets, partial data imports that are difficult to analyze and reproduce, and expensive platforms for important data insights. As a result, lending teams spend significant time aggregating, standardizing, and reviewing reports, leading to the potential for human error and a hesitance to pull and act on important analytics routinely.
Maxwell’s AskMax feature, part of Maxwell’s Business Intelligence suite, offers mortgage lending teams fast, digestible insights based on real-time data. By leveraging AI, AskMax delivers instant answers in a familiar search interface. For instance, a Head of National Sales might be tracking forecasts for regional branches to help arm each branch manager with accurate predictions based on current locked volume and historic pull-through. With AskMax, they can simply query, “What’s the sales forecast for next month for the Georgia branch?” and get insights within seconds. Similar queries can be made around the lender’s sales, operations, and financial metrics spanning their entire business. Results are delivered instantly in shareable formats, accompanied by charts and graphs when appropriate. Users can save and revisit these analyses at any time.
“Lenders today contend with a wide range of challenges to profitability, from process inefficiencies to rising operational costs,” says Rutul Davè, Maxwell Co-founder and CTO. “To remain viable, lending teams need real-time, actionable data insights that drive operational improvements and enhance their bottom line. The AskMax feature from Maxwell uses the power of AI to make those insights more accessible and actionable than ever before.”
The introduction of Maxwell’s AskMax comes on the heels of the release of Blueprint Builder, a point-of-sale feature offering first-of-its-kind customization for workflows, business rules, and user experiences. These launches further Maxwell’s commitment to providing technology-powered tools that help lenders combat challenging market conditions by improving profitability and driving a better, more efficient lending process. Since 2016, Maxwell has grown to be the only provider offering all the technology and services a mortgage lender needs to run a profitable business, from the loan application to the back office and capital markets. Today, Maxwell serves over 300 mortgage lenders, banks, and credit unions on its platform and the hundreds of thousands of homebuyers they serve every year. Lenders who use Maxwell close loans 13 days faster, and their loan officers close over 40% more loans per month.
About Maxwell
Maxwell provides America’s lenders with forward-looking technology and solutions for the entire mortgage origination process, from the loan application to the secondary market. Backed by a deep bench of industry expertise, Maxwell’s offerings enable lenders to stay ahead of the competition while improving their margins. Each day, Maxwell powers over 300 mortgage lenders, banks, and credit unions to serve tens of thousands of homebuyers with a modern lending experience. Lenders on Maxwell close loans more than 13 days faster and their loan officers each close over 40% more loans per month.
Founded in 2015, Maxwell is a member of the Mortgage Bankers Association and is proud to be built in Denver, Colorado. Since 2017, it has been named one of the most innovative companies in real estate by HousingWire Magazine, recently ranked as a fastest-growing company in the U.S. on the Inc. 5000 list for the third year running, and was named a fastest-growing tech company in Colorado by Deloitte Fast 500 for two consecutive years.
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