Key facts
- PRMG is leveraging AI to enhance its services.
- The company focuses on home equity products.
- PRMG aims to improve the lending experience for minority borrowers and millennials.
- PRMG's motto is 'Built by Originators for Originators'.
Kevin Peranio, chief lending officer and partner at PRMG, discussed opportunities in the current higher-rate market on the HousingWire Daily podcast. He highlighted the use of home equity products and artificial intelligence at the company. Peranio shared his career journey, starting at Dell before moving into the mortgage industry, inspired by a friend. He emphasized the importance of financial literacy for minority borrowers and the company's focus on improving the lending experience for them and millennials. PRMG's motto, 'Built by Originators for Originators,' reflects its commitment to its loan officers. Peranio also noted the industry's shift towards purchase money business as interest rates rise. In a previous role, he aimed to grow PRMG's monthly loan volume to $1 billion. PRMG also utilizes AI support, handling over 1,400 questions weekly and answering more than 90% of them for its users.