AZP Awards Gateless First Platinum AI Mortgage Technology Certification for Smart Underwrite

AZP Insurance Specialists ("AZP"), a mortgage-risk insurance and technology-certification specialist, today announced the Platinum certification of Gateless Smart Underwrite®, an AI-driven mortgage underwriting solution, under AZP's AI Mortgage Technology Certification framework.

The certification framework was developed from decades of actual mortgage representation-and-warranty risk, underwriting and claims experience. It is designed to independently evaluate artificial intelligence and advanced technology providers serving mortgage manufacturing and, for qualifying technologies and transactions, provide a pathway to separately underwritten insurance-backed risk protection for defined representation-and-warranty exposures, including covered repurchase losses.

AZP and its predecessor organizations have placed representation-and-warranty insurance on more than 5 million mortgage loans representing more than $2 trillion in mortgage principal. Insurance-backed protection is provided through a Lloyd's of London policy underwritten by Munich Re, subject to applicable underwriting requirements and policy terms, conditions, limits and exclusions.

"There will be no shortage of organizations willing to issue an AI certification badge. Our approach begins somewhere very different—with decades of actual mortgage risk and claims experience. We know what good systems look like, what creates uninsurable risk and what happens when something goes wrong."— Arthur J. Prieston, Esq., CMB, Chairman, AZP Insurance Specialists

Gateless is the first technology provider certified under the AZP framework and has achieved Platinum, the highest of four certification levels. The designation reflects Gateless' demonstrated governance, controls, auditability, operational maturity and risk-management infrastructure, together with the performance of more than 230,000 loans manufactured and sold by lenders using Smart Underwrite® without a single claim.

"From the beginning, we've believed AI underwriting had to earn the confidence of lenders through measurable performance, strong controls and transparency. AZP's independent certification, together with the availability of separately underwritten insurance-backed protection for qualifying clients and transactions, provides another level of validation as Smart Underwrite® continues to be deployed across the industry."— Rick Lang, President, Gateless

As artificial intelligence becomes more deeply integrated into mortgage underwriting and loan manufacturing, lenders and institutional mortgage participants are increasingly focused not only on what technology can do, but also on the governance, controls, accountability and financial risk surrounding its use.

"Technology has to deliver real results—faster underwriting, greater accuracy and more efficient operations—while keeping lenders in control. Gateless understands what it takes to make automation work in the mortgage business. Independent certification adds confidence that the technology is backed by the discipline and accountability lenders need to adopt it at scale."— Phil Shoemaker, Chief Executive Officer, The Loan Store