YOUR QUESTION
I've read your posts on AI with considerable interest. I am the owner of a Fintech organization that provides AI to mortgage companies. My partners and I get your posts all the time. Few people in the mortgage world seem to be as honest and forthright as you. We have suggested to our clients that they sign up for your AI Policy Program. We want our customers to be fully engaged in working with AI. I am writing you about a disagreement that I have with your portrayal of AI as eventually replacing humans.
Please engage with me in a discussion of my view. It's OK with me if you want to publish our dialogue. The more discussion, the better for everyone. But I think the gloom-and-doom perspective overlooks the nuances and is not historically valid.
There is a fundamental error people have about AI. They look at the economy and see a fixed amount of work to be done, like a pie that can only be sliced smaller and smaller as machines take bigger bites. Critics of AI say that AI users see humans as a competitive resource to be eliminated for a finite amount of work and a finite number of problems. This is fundamentally, totally, and completely wrong.
Does AI adversely affect jobs in the mortgage world?
OUR COMPLIANCE SOLUTION
We suggest:
AI POLICY PROGRAM FOR MORTGAGE BANKING™
Our AI Policy Program aligns with Freddie Mac's AI governance requirements for Freddie Mac Sellers/Servicers. Responsible AI practices can help align AI system design, development, and use with applicable legal and regulatory guidelines.
Our AI Policy Program consists of the following policies:
1. Artificial Intelligence Governance Policy
2. Artificial Intelligence Use Policy
3. Artificial Intelligence Workplace Policy
4. Artificial Intelligence Credit Underwriting Policy
5. Artificial Intelligence Do & Do Not Policy
6. Artificial Intelligence Ethics Policy
7. Artificial Intelligence Vendor Management Policy
8. Artificial Intelligence Mortgage Fraud Policy
Contact us for the presentation and pricing!
RESPONSE
I do not see AI as gloom-and-doom; however, I do recognize that it poses significant risks of many kinds. Being aware of those risks may enable preparation for remedies and mitigation of certain adverse, consequential outcomes.
I have stated my point of view in several speaking engagements and numerous articles, some of which are:
Will AI Reduce Fair Lending Violations?
Freddie Mac Deadline: March 3, 2026 – AI Governance Framework
Visit our Compliance Topics to find more articles relating to AI.
I will not spend time here outlining my perspective fully. For those interested, please read my articles. I always encourage questions and comments. You can contact me here.
I will provide your views and my responses thereto. For editorial reasons, I will embolden the commenter's statements and follow them with my responses. Also, for editorial reasons, I will publish the two main theses of their opinion, thereby providing both their view and mine. I will include definitions in italics when I think a technical word requires a brief definition. Let's begin!
Commenter's View
This is the fundamental error of AI and job doomers. They look at the economy and see a fixed amount of work to be done, a pie that can only be sliced thinner as machines take bigger bites. They see humans as a competitive resource for a finite amount of work and a finite amount of problems to solve that must be eliminated. This is fundamentally, totally, and completely wrong.
