Loan servicer spends "several hundred million dollars a year" on call center operations and expects $50 million in annual savings at outset of multiyear AI project.
Rising mortgage rates have many lenders looking to sell servicing rights, creating opportunity for Dallas-based company that now collects payments on $870 billion in loans.
Following steep quarterly and annual losses, executives were optimistic that new revenue estimates are achievable in a rising interest rate environment, especially as customers transition to the Blend Title platform from Title365.