Lender insights
Dan Jones, MMI’s chief technology officer, said during an exclusive demo of the product with HousingWire that MMI users can ask questions like, “Which lenders gained the most purchase volume in California last quarter?” They can even get answers about their own production, such as, “What is my retention by month for the past five years?”
The AI-powered chatbot is powered by MMI’s mortgage intelligence, which includes 500 million origination records spanning 25 years, more than 8 terabytes of data, and real-time insights across more than 150 million properties and 3,000 counties.
“With ChatMMI, we’re making all of that data and intelligence even more accessible,” Jones said. “It’s like having a 24/7 data analyst who understands mortgage — and speaks your language.”
Jones said that the chat history saves and updates with the latest data automatically, making the experience “personalized” for users.
The chatbot can field questions and queries, including the identification of top lenders, loan officer rankings, broker wallet share and mortgage retention rates. LOs can even ask MMI which clients in their book of business have the greatest potential to refinance.
“It’s one of these exciting launches where you never really know how a product’s going be used,” Jones said. “Like, it’s always kind of intriguing, and sometimes it’s different than you expected.
“But when you then layer in an AI product, it’s even kind of a little bit more exciting because you want to see what types of questions people can ask, which gives us visibility into how the system what the system’s receiving from users,” Jones explained.
‘Fine-tuned’ data
The tool is the latest addition to MMI’s unified mortgage technology solution, which includes MMI Data Center, Bonzo and Monitorbase. Jones said that while ChatMMI will integrate with Bonzo, it can integrate with other customer relationship management (CRM) platforms chosen by users.
The company plans to offer ChatMMI at no additional cost to existing MMI users. Later this year, it plans to launch Pathways Home, a platform that combines MMI’s best products, for less than $100 a month.
“We’ve always focused on giving our clients the best data,” Ben Teerlink, founder and CEO of MMI, said in an interview. “ChatMMI is about giving them faster access to it. No filters, no exports, no manual work — just the insights they need, when they need them.”
Teerlink emphasized that ChatMMI goes beyond standard AI chatbot offerings.
“There’s been mortgage data out there for years, you know? I mean, before we even started creating MMI, you could buy the bulk data from a handful of large data providers in the industry,” he said. “But I think what makes us unique is that we created a product that allows you to get all the way down to the individual loan officer and to all the information specific to them. We haven’t had a county in the country where we haven’t had a loan officer utilize our MMI products.
“I think what gives ChatMMI such an advantage is … we have incredible data that we’ve fine-tuned for years, so instead of just plugging a chatbot into the big data that you can buy anywhere, we’ve plugged it into something that we’ve been perfecting for years. Now you can dig into it and ask it questions that you’ve really never been able to uncover because of what it can compute, and also how accurate the data is that it’s pulling from.”
Teerlink said that his and Jones’s industry experiences are what drove the development of ChatMMI.
“I started in the industry as an agent. The Bonzo guys started in the industry originating loans. Dan Jones has been in the industry for Rocket and their data for 17 years. MonitorBase has been in production doing loans. And we’re all still involved,” he said.
“I think so much tech ends up missing what originators actually need today. And I think we really come at it with that in mind, of like, we know what is needed and we build it that way.”
