Polly Continues to Propel Mortgage Capital Markets Forward with Latest Advancements in Artificial Intelligence

Next layer of Polly/™ AI further solidifies the company's authority as leader in mortgage capital markets, delivers near-miss eligibility, pricing, and suggested actions

Polly, the leading provider of innovative mortgage capital markets technology and operator of the industry's first and only cloud-native, commercially scalable, product and pricing engine (PPE), announced today the continued expansion of its groundbreaking AI platform, Polly/™ AI. The introduction of sophisticated near-miss eligibility, near-miss pricing, and suggestion actions further empowers leading lenders and their loan officers (LOs) and mortgage brokers to differentiate themselves amid an increasingly competitive market, and ultimately, deliver a better experience to consumers.

"As an established trailblazer in the capital markets vertical, Polly will continue to push the boundaries of what is possible and pave the way for AI's application in mortgage," explained Jon Foy, Vice President of Product and Design at Polly. "We will continue to lean into cutting-edge AI/ML to address the challenge of disjointed workflows and limited visibility into what truly drives value and bottom-line profitability for our customer partners."

In its latest phase of AI innovation, Polly unveils:

NEAR-MISS ELIGIBILITY & RECOMMENDATIONS

Polly/™ AI now goes beyond explained ineligibility to identify products on the cusp of eligibility given a slight change in borrower-controlled circumstance. The platform will proactively identify the optimal product for the consumer in mere seconds, driving significant efficiency gains and time savings for both LOs and brokers. This insight creates a sizable competitive advantage, positioning them as a trusted advisor and ultimately boosting conversion. For the consumer, this shared intel can equate to a better home-buying experience and in the end, unlock their dreams of homeownership.

NEAR-MISS PRICING & RECOMMENDATIONS

The platform will also highlight near-miss pricing opportunities, enabling LOs to secure better rates for their borrower through a detailed and action-oriented set of recommendations across Polly's unlimited pricing parameters. Gone are the days of time-consuming LLPA grid evaluation, or running a scenario multiple times. What if an LTV change of 1% might actually result in a 50-bps swing? For any factors that can directly impact rate, the LO can tap Polly/™ AI to identify those that may not have otherwise been evaluated, given how time-consuming it is for LOs to conduct this manual work in legacy engines.

SUGGESTED ACTIONS

When a loan scenario fails to meet specific criteria, Polly/™ AI's new suggested actions provide sophisticated guidance and actionable intel to overcome those roadblocks. The platform will search the lender's customized configuration within Polly's PPE for any opportunity available for which the loan officer or mortgage broker can guide their borrower toward a more favorable outcome.

EMBEDDED WITHIN THE LO EXPERIENCE

A trusted pioneer of mortgage innovation with intention, Polly is focused on increasing profitability and delivering a revolutionary loan officer experience. Because LOs can free-form text or converse via voice directly with Polly/™ AI from any device, it has quickly become a valuable and reliable assistant for LOs, driving increased levels of productivity and efficiency, and bolstering their ability to deliver a superior customer experience.

Polly continues to deepen its investment in AI/ML, notably receiving an additional $25M in growth equity capital this year. This capital will serve to further accelerate Polly's rapid growth and enable an even deeper investment in R&D, product innovation, and expansion.

"There is no question that AI has the potential to fundamentally alter the dynamics of the mortgage landscape," added Adam Carmel, Founder and CEO of Polly. "Polly remains committed to leading this charge, and empowering industry participants to optimize and accelerate all workflows, boost operational productivity and efficacy, and guide borrowers toward the best possible outcomes available to them. If one thing is evident in Polly's strong momentum and market leadership to date, it's that we will not slow down, and we will continue our deep commitment to innovation and world-class service for our valued customer partners."

Polly is attending the 2024 MBA Annual Convention and Expo in Denver, October 27-30. To learn more about how the company continues to integrate advanced AI/ML into workflows across the capital markets value chain or to see Polly/™ AI in action, attendees are encouraged to schedule a meeting or visit the Polly team in #MBAAnnual24 booth 412.

About Polly

Polly has revolutionized the mortgage industry with its modern, data-driven capital markets ecosystem. Banks, credit unions, and mortgage lenders nationwide trust Polly's Product and Pricing Engine (PPE), Loan Trading Exchange, Lender Intelligence, and Polly/™ AI to automate and optimize the entire capital markets value chain and deliver a next-generation loan officer and broker experience, helping mortgage companies operate faster, smarter, and more profitably. Polly was founded in 2019 by a seasoned team of technology and mortgage experts and is headquartered in San Francisco, California. To learn more, follow Polly on LinkedIn or visit www.polly.io.

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