Reverse mortgage loan originator website and CRM vendor Reverse Focus announced a new partnership with Reachality this week, implementing its mortgage-focused conversational artificial intelligence (AI) tool, called “Lumina,” to be used on Reverse Focus-created LO websites.
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“Reachality’s Lumina seamlessly incorporates a lender’s or originator’s reverse mortgage content into a dynamic conversational experience,” Reverse Focus said in an announcement. “By deploying Reachality’s innovative AI chat engine, Reverse Focus aims to extend visitor retention and visit times on their websites, a critical factor in generating reverse mortgage prospects.”
The announcement said the AI engine also curates each website’s content, tailoring responses in real-time based on customer inquiries.
“Keeping visitors on your website for longer is the key to engagement and generating reverse mortgage prospects,” said Shannon Hicks, co-founder of Reverse Focus. “Reachality’s AI chat engine can do just that for Reverse Focus’ existing website clients who use the service.”
Reachality offerings, including Lumina SMB (for small-to-medium-sized businesses) and Lumina Enterprise (for larger organizations), have made use of the burgeoning space involving AI-based conversational language models to serve as “agents” to field inbound customer inquiries.
“We aim to modernize the reverse mortgage industry, meeting the expectations of today’s tech-savvy seniors and the upcoming Gen-X demographic,” said Byron Torres, CEO and founder of Reachality, in a statement. “Our collaboration with Reverse Focus is a significant stride in equipping mortgage loan officers with advanced AI tools.”
Torres recently presented on the topic of artificial intelligence to members of the reverse mortgage industry at the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in Nashville in October.
Another reverse mortgage industry player making a foray into the AI space is Longbridge Financial. Longbridge COO Bill Packer recently sat down with RMD to discuss some of the tools in development at the company designed to streamline processes and product education.
RMD recently featured its first-ever Q&A with a non-human subject when “interviewing” OpenAI’s ChatGPT language model about the function and overall safety of the reverse mortgage product.
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