GPTs in the wild: Mortgage lending edition


You can do it

I've gotten 31 flavors of this question over the past year:

"AI is cool and all, but what are [my industry peers] doing with it? Where is there positive ROI?"

The inevitable answer is: I can't tell you that. I haven't talked to your industry peers yet -- I'm talking to you!

But I CAN tell you there are micro innovations happening all around you because of AI, and I'm going to start highlighting them.

What's more fun?

  • Praying you'll keep up by copying someone else's innovation (the standard model)
  • Making your own innovation

Last week, I heard from my friend and astute reader Eirik Rorvig. (Amazing name, right?) Eirik and his team sell mortgages. And they're using AI assistance in ways I would never have conceived of.

The global economy is insanely complex. That means most people have no idea what unique problems you/your customers/your partners have. And that's your opportunity.

Eirik created four GPTs to solve specific problems for himself and his clients.

You may not need any of these, but I hope this opens up your imagination just a bit.

From the mind of Eirik Rorvig

Warrantability Wizard (Your Condominium Conundrum Compatriot) is a GPT designed to tackle the complex world of condo associations and their financing rules. This AI tool guides users through the maze of Fannie Mae and Freddie Mac's warrantability standards, ensuring that condos meet the necessary financial and legal requirements for loan underwriting.

Property Shakespeare (The Real Estate Wordsmith) is the Poet Laureate of realtors. This GPT takes property information and crafts compelling descriptions in a variety of styles, from the highly literary to the strictly factual. You can feed it photos of the property and it uses GPT-4 vision to add extra flavor to the listing.

Credit Coach Plus+ (The Compassionate Credit Counselor) offers a solution for those with less-than-stellar credit scores. This works on so many levels:

  • Users can upload a PDF credit report and GPT-4 gives you specific recommendations based on real data
  • While helping people repair their credit is a long-term benefit, individual coaching doesn't scale AND it doesn't help Eirik close any deals today.
  • Discussing a shaky credit history with a human (who you respect, and whose respect you'd like to earn) can be embarrassing, but the robot doesn't judge.

VetWise AI (The VA Loan Virtuoso) is a specialized assistant dedicated to navigating the intricacies of VA loans. This GPT ensures that veterans have all the necessary documents and information to secure a VA loan, simplifying a process that can often be daunting for those who've served our country. Eirik added an elegant touch: the GPT reads the current VA website, so its advice is always current, even as rules change.

Now get busy!

"Show me how others in my field have successfully leveraged AI" is a cop-out. Waiting to follow in the footsteps of your peers means you're already behind.

Only you understand your clients' unique problems. And, armed with that knowledge, you can almost certainly use AI to help them get what they want faster, cheaper, or both.

If you're familiar with mortgages, try these GPTs. I'd love to hear what you think.

And if you have a hyper-specific GPT you'd like to share with others, hit 'Reply' and tell me about it. I read every email.

Adam


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Adam Lorton

I help executives and their teams combine the power of AI with the principles of Deep Work to - Get unstuck - Move faster - Deliver excellent experiences for customers Subscribe for prompts, case studies, and stories in your inbox weekly!

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