Key facts
- Lenders face compressed margins and challenging market conditions.
- Cotality focuses on connected mortgage data and AI-ready data through a semantic layer.
- Cotality's OAT framework emphasizes observability, auditability, and transparency in AI adoption.
Jay Kingsley, President of Mortgage Solutions at Cotality, discussed strategies for lenders to improve efficiency and reduce origination costs during a conversation with HousingWire's Allison LaForgia. Kingsley emphasized that the mortgage industry is moving beyond a sole focus on "offense versus defense" and is instead prioritizing technology, trusted data, and consistent processes to build scalable operations.
He noted that while years of investment in digital mortgage technology have yielded useful tools, these have often been disconnected point solutions, leading to inefficiencies. To address this, Cotality is focusing on connected mortgage data and integrating AI solutions, stressing the importance of AI-ready data. Kingsley also highlighted the critical need for compliance, governance, and transparency in AI adoption, referencing Cotality's OAT framework (observability, auditability, and transparency) as a responsible approach.