Nguyen Talks AI vs. Loan Handler, The Future of Digital Mortgage, and More – NMP


BeSmartee Co-Founder and CEO Tim Nguyen appeared on Wednesday’s episode of Mortgage Leadership Outlook. Nguyen and the series host, Andrew Berman, Head of Engagement and Outreach for National Mortgage Professional Magazine, led a discussion on his work with BeSmartee, Mortgage Technology Solutions Today, what the future of digital mortgage could be like and the impact of the COVID-19 pandemic.

As COVID-19 continues to challenge the industry, the Mortgage Leadership Outlook series is helping mortgage professionals navigate these uncertain times.

Nguyen’s BeSmartee is a mortgage loan technology platform that uses big data and artificial intelligence to enable borrowers to go from application to approval, disclosure, and underwriting in around 15 minutes.

It was founded in 2014 after Nguyen left the previous company he worked for. He had salespeople and customers willing to help build the business by providing information about the mortgage process and compliance.

There were other point-of-sales systems, including the Mortgage Bot, which Nguyen calls the first digital mortgage platform. Nguyen says he considers BeSmartee to be the founder of the modern digital mortgage.

“No matter how much technology is out there, the process is still pretty manual,” said Nguyen. “We no longer sit there and rummage through piles and piles of paper. But we’re still rummaging through loads of PDF scans, images, looking for data on the screen, mapping the data, and verifying the data. “

Highlights from the interview:

  • “It’s not about automating the loan officer role, it’s about automating these functions so that loan officers can be more of an advisor, they can be a guide, an advisor to the transaction,” said Nguyen. “We need the loan officers, and we always will need the loan officers to help them think through and help consumers make the right decisions for their lives.”
  • “Can AI replace humans? I do not know. But from what I’ve seen, there’s a great chance that it can be. Can that actually eliminate loan officers? If it can eliminate all other functions, it probably could. The question is, should it be, and I don’t think it should. “
  • When COVID-19 hit, Nguyen said they looked at their organization. He said people were already moving to a homework attitude anyway. Your infrastructure workers worked hard to make sure the hardware was available to the staff.
  • “For BeSmartee, the way we work, we actually feel like we’re working better than ever. The tools are out there, the Slack, the emails, the go-to meetings, and a lot of people have been using Zoom. ”Nguyen said the company will be working from home permanently; However, they will open the office when it is safe to those who want to go in and continue building the team fellowship.
  • Regarding the company’s product line, Nguyen said they are rethinking their roadmap. He said they weren’t expecting e-closings and the entire backend of the process would come as fast as it has been since COVID-19. It forced the company to rethink the way it does its business and, believe it or not, the pandemic has grown business for BeSmartee as well.

Past guests include Laura Brandao, Kristy Fercho, Tony Thompson, Mat Ishbia, David Luna, Barry Habib, Rob Chrisman and more.

See all interviews from the Mortgage Leadership Outlook series on his YouTube channel.

Check out the full interview between Nguyen and Berman below.


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