Join us in our expanded episode this week with two Hot Topic segments:
- A discussion today with Simon Moir and Bob Smedley for a look at what could be one of the biggest trends for 2019, the digital mortgage.
- Additionally, we have Ari Gross, CEO of Softworks AI with a Look at Transitioning to Artificial Intelligence in the Mortgage Industry.
Simon Moir
SVP & General Manager, Digital Mortgage
Simon Moir is Senior Vice President and General Manager of Digital Mortgage of eOriginal, the leading platform for creating, managing, and monetizing trusted digital loans.
Simon focuses on the advancement and execution of eOriginal’s mortgage growth strategy, including the product roadmap, business development, sales and solution delivery.
During his career, he has worked for both privately-held companies and specialty divisions of larger publicly-traded organizations. Previously, Simon served as Senior Vice President of Business Development at Savana. Prior to Savana, he was the Senior Director of Mortgage Technology at CoreLogic. Simon joined CoreLogic through its acquisition of Dorado, a successful, privately-held mortgage technology company based in the Bay Area.
Simon’s depth of knowledge and experience in the mortgage industry is unparalleled and he fills an integral role on the eOriginal team by helping guide expansion with innovative strategies. Originally from New Zealand, Simon holds a Bachelor of Science in Chemistry from the University of Canterbury.
Bob Smedley
SVP, Warehouse Lending
Bob Smedley has been involved in mortgage warehouse lending and investment portfolio management for the past 34 years. He joined People’s United Bank two years ago and stepped into the role of team leader for eNote implementation.
Since then, People’s United Bank has gained approval as a FNMA and FHLMC approved eNote Warehouse Lender. PUB currently has one client actively using their line for eNote fundings and we are actively looking to lead the market in the adoption of eNotes. People’s United Bank is a $50 billion Super Regional Bank headquartered in the Northeast United States.
Our mortgage banker finance group lends to independent mortgage bankers across the nation and currently has 60 customers with over $2 billion of commitments. We love the warehouse lending business and are eager to be a leader in the eNote ecosystem, along with our friends and partners at eOriginal.
Topics Covered in this Hot Topic Interview:
1. Historical perspective of digital notes – MERS, founded in 2004.
2. Adoption of eNotes by originators – Is it really going to happen this time?
3. Details on how Warehouse Lenders entering this space can get a positive result.
4. What GinnieMae’s 2020 means for digital mortgages.
5. Advice for Executives when transitioning to digital solutions.
Excerpts from this Interview:
Listen: There’s been a number of building blocks put in place just recently allowing people to do this at scale…
Listen: A perspective on digital signatures and where they started…
Listen: How this can helps warehouse lenders and independent mortgage bankers…
Listen: This is truly a competitive advantage to them because it totally changes the financial model…
Listen: Being an open platform makes it easy to integrate…
Listen: Making it easy for the settlement community will drive adoption…
Listen: I think this is a great opportunity to streamline and gain in sale… anywhere between 7 and 15 basis points…
Listen: GinnieMae 2020 and being on the forefront when the floodgates open…
Listen: What advice would you give executives when transitioning to digital solutions…
Listen: Taking note of the other entities who have already adopted the technology…
Listen: For someone looking to gain efficiency…
Part 2 Hot Topic – A Look at Transitioning to Artificial Intelligence
In this expanded episode, we also have Ari Gross, CEO of Softworks AI here talking about Artificial Intelligence as it applies to the Mortgage Industry.
The interview between David Lykken and Ari Gross begins with a perspective from Ari on where Artificial Intelligence started, how it’s developed, and how it can be applicable to mortgage lenders and bankers in order to bring a great ROI.
SoftWorks AI is dedicated to helping businesses enhance operational efficiency by providing state-of-the-art computer vision and automation solutions.
Dr. Ari Gross has been very active in the research and development of new methods and technology in the areas of computer vision, imaging, artificial intelligence, machine learning, and real-time computing for the past 20 years.
His achievements include over 40 published papers and several patents in areas related to imaging, machine learning, and document automation. Dr. Gross has managed his previous company from its initial focus on image compression and OCR to its shift over the last three years towards business process automation.
After a successful exit, Dr. Gross launched SoftWorks AI to address the needs of the explosive Knowledge Worker Automation market. Dr. Gross, Ph.D., received a BS degree in Mathematics from Johns Hopkins University and a Ph.D. in Computer Science from Columbia University.
Excerpts from this Interview:
Listen: What AI is and what it is not…
Listen: Understanding the cost of compliance has doubled in the last 4 years to above $8000…
Listen: Using AI to reduce origination costs…
Listen: Breaking a complex process into stages and finding a WIN in a smaller stage that proves the ROI supports the solution…
Listen: A case study of a company who started using AI in the lending space…
Listen: Example of using AI to get a ROI of your money in 12 months…
Listen: In the future you’ll have to employ AI if you want to stay competitive…