DocumentCode :
3493961
Title :
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 CLUESTM (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
Link To Document :
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