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Survey: Nearly half of Americans are comfortable with AI approving or denying their mortgage
The survey found 49.2% of 1,000 U.S. consumers are comfortable with AI approving or denying a mortgage application, while most still want human oversight.
- On Monday, the American Association of Residential Mortgage Regulators , the Mortgage Bankers Association , and Boston Consulting Group released survey findings showing 49.2% of consumers are comfortable with AI approving or denying mortgage applications.
- Although mortgage companies are adopting AI for productivity, consumers remain cautious about full automation, with only 4.3% willing to let AI handle the entire mortgage process independently.
- When unexpected issues threaten closing, 82.8% of consumers want a human loan officer involved, with 54.4% preferring direct human assistance when problems arise.
- Gino Fronti, VP of product for LOAI at Lower, noted that AI should focus on administrative efficiency rather than replacing relationships: "Technology is taking the paperwork off our plate, not the relationship," Fronti said.
- Survey data indicates 38% of consumers prefer AI making recommendations while humans retain final decisions, with 38.1% wanting human loan officers to review important AI recommendations or decisions.
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27 Articles
Missoulian+25 Reposted by 25 other sources
Survey: Nearly half of Americans are comfortable with AI approving or denying their mortgage
Lower reports that 49.2% of consumers are comfortable with AI approving mortgage applications, with even higher comfort in other tasks.
·Missoula, United States
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Total News Sources27
Leaning Left1Leaning Right1Center25Last UpdatedBias Distribution92% Center
Bias Distribution
- 92% of the sources are Center
92% Center
C 92%
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