Artificial intelligence at Countrywide

Author

Stobie, Lain ; Winner, Chris

Author_Institution

Countrywide Home Loans, Pasadena, CA, USA

fYear

1996

fDate

22-24 Oct 1996

Firstpage

468

Lastpage

472

Abstract

As the USA´s largest independent mortgage banker, Countrywide Home Loans is committed to using advanced information technology to maintain its competitive edge. For almost five years, Countrywide has been using AI to improve its efficiency in originating mortgages, with its automated underwriting system CLUES^TM (Countrywide Loan Underwriting Expert System) evaluating 600 loans a day. Out of this, many lessons have been learned about developing and maintaining a large expert system in a dynamic and competitive financial industry. In addition, Countrywide has embarked on other AI projects, including: predicting delinquency, automatic property valuation, help-desk assistants and neural network applications in secondary marketing

Keywords

bank data processing; expert systems; mortgage processing; CLUES; Countrywide Home Loans; Countrywide Loan Underwriting Expert System; USA; advanced information technology; artificial intelligence; automatic property valuation; competitive edge; delinquency prediction; efficiency; financial industry; help-desk assistants; independent mortgage bank; neural network applications; secondary marketing; Artificial intelligence; Cost accounting; Economic indicators; Expert systems; Guidelines; Humans; Information technology; Loans and mortgages; Neural networks; Productivity;

fLanguage

English

Publisher

ieee

Conference_Titel

WESCON/96

Conference_Location

Anaheim, CA

ISSN

1095-791X

Print_ISBN

0-7803-3274-1

Type

conf

DOI

10.1109/WESCON.1996.554546

Filename

554546