AZP Gives Gateless Smart Underwrite Its Highest AI Mortgage Certification

AZP Insurance Specialists awarded Platinum certification to Smart Underwrite from Gateless under its AI Mortgage Technology Certification framework, the company said in a press release. Gateless is the first provider certified through the framework, and Platinum is its highest of four levels.

The certification assesses governance, controls, auditability, operational maturity and risk management for AI and advanced technology used in mortgage production. AZP said lenders have used Smart Underwrite to produce and sell more than 230,000 loans without a claim.

The framework can provide a path to separate insurance protection for defined representation and warranty exposures, including covered mortgage repurchase losses. The protection is available through a Lloyd's of London policy underwritten by Munich Re, subject to policy terms and other requirements.