Process Improvement Column: Service Provider To Build Domain-Centric Large Language Model For The Mortgage Business
Sourcepoint, a Firstsource company and one of the nation’s leading providers of outsourced mortgage services and solutions, announced its investment in building its own domain-centric Large Language Model (LLM) specific to the mortgage process. Developed under its Firstsource relAI suite, the investment leverages the company’s deep domain expertise to tailor-make sector specific AI-driven services and platform offerings.
The LLM significantly reduces the cycle time for pre-qualification and formal loan applications, creating a seamless digital end-to-end journey for loan application and fulfillment. This streamlined process balances the convenience of self-service with the personalized support of a dedicated loan officer, ensuring a comprehensive and efficient experience. It will be equipped with capabilities like classification, extraction, recommendation, and summarization. These capabilities will support credit assessments, loan quality checks, mortgage document digitization, risk assessment, and more, including insights into loan receivables management and process automation. Additionally, the LLM will accelerate the development of AI co-pilots and agentic workflows.
“This initiative aligns with our ‘inch wide, mile deep’ philosophy of bringing our deep domain expertise to our customers through deep-tech intervention,” said Ritesh Idnani, Managing Director & Chief Executive Officer at Firstsource. “Generative AI is transforming both our business and our clients’ operations, and this investment in a domain-centric LLM underscores our commitment to AI-led innovation. Mortgage is a critical domain for us, and we are uniquely positioned to capture the opportunity with the interplay of domain knowledge and technology.”
“It’s important that our deep domain expertise in mortgage is embedded in this new Gen AI model,” added Hasit Trivedi, Chief Digital & AI Officer at Firstsource. “This ensures that knowledge is democratized and widely applicable across our engagements. We are using a unique approach by combining transformer architecture with techniques like model blending. This LLM will be a key addition to our expanding Firstsource relAI assets and offerings.”
This initiative follows the launch of Firstsource relAI, an AI-focused digital transformation suite of platforms, solutions and offerings. It reinforces the company’s commitment to driving digital transformation and innovation, providing clients with more efficient operations, improved decision-making, and personalized experiences by leveraging natural language processing, large language models, and advanced statistical analysis to provide intelligent and effective search capabilities across various content types and sources.
Tony Garritano is the founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 20 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting PROGRESS in Lending Association was the next step for someone like Tony, who has dedicated his entire career to providing mortgage executives with the information that they need to make informed technology decisions to help their businesses succeed.
