PRMG uses Capacity to support over 900 internal staff.

For nearly 2 decades, Paramount Residential Mortgage Group, Inc. (PRMG) has been a leading lender in the mortgage industry. As a privately held residential mortgage lender, PRMG has successfully helped borrowers all over the U.S. achieve the dream of home ownership.

Problem

Like most mortgage lenders, PRMG struggled with slow resolution times, scattered files, and clunky, repetitive processes. But they wanted to make the lending process easier and faster for both borrowers and employees.

“The one asset you cannot get back is time. But you can get more of it, and use it more efficiently [with Capacity]. That to me is the single most important factor about leveraging technology from the good folks at Capacity.”

Kevin Peranio, Chief Lending Officer and Partner

As they began their search for the right team AI support solution, PRMG had 3 top priorities:

1. Instant knowledge access for employees for faster resolution
2. Easy maintenance of documents and data with little human involvement
3. A single source of information that encouraged scalability

Enter Capacity, stage left.

Solution

Capacity first gained PRMG’s attention for its AI capabilities. Our digital assistant can instantly provide loan or guideline information to employees without any human involvement.

PRMG deployed a pilot program at first, to “get a feel for the experience and gauge our employees’ interest in using the tool,” says Lara Rausch, VP of Products and Training. The team quickly saw that Capacity was easy to implement and maintain, and they soon started using it for day-to-day loan tasks and processes. 

On employees’ behalf, Capacity can crawl documents, like guidelines, and answer questions based on the information in those documents. Teams no longer have to search long files for information or manually update data—all of it is in the PRMG knowledge base, instantly accessible through a simple chat conversation.

Results

“Technology like this helps level the playing field for us, the little person, who’s fighting against billion-dollar companies—so I love the fact that we’ve got tech on our side.”

Kevin Peranio, Chief Lending Officer & Partner

Since deploying MOBi (their name for Capacity, a.k.a. My Online Business Intelligence), PRMG has seen incredible engagement and growth:

• 1400+ questions asked per week
• Over 90% of those questions answered by AI
• 900 monthly users

With so many questions deflected from their teams via team AI support, PRMG can maximize their time to work on higher-level projects. Now, PRMG enjoys higher productivity and team cohesion, allowing them to compete with larger lenders and supercharge their business potential.

To learn more, read our interview with PRMG’s VP of Products and Training, Lara Rausch.