Pennymac Financial Services is expanding its relationship with Amazon Web Services to accelerate AI adoption and modernize its mortgage servicing platform.

The mortgage lender and servicer selected AWS as its preferred cloud provider as part of an effort to transform its operations through generative AI and cloud-based technologies, Pennymac announced today. The financial services company plans to deploy conversational AI tools powered by Amazon Nova Sonic to enhance customer interactions during mortgage application and servicing processes.

Powered by Amazon Nova Sonic, Pennymac also developed its Natural Language Virtual Assistant, which provides real-time voice interactions, including borrower outreach, loan opportunity identification, application support and scheduling callbacks, according to the release. The AI assistant will operate around the clock while loan officers maintain final decision-making authority.

The expanded agreement also advances cloud modernization of Plaisse, Pennymac’s mortgage servicing platform, which the company said is being positioned for broader commercialization and long-term growth.

Pennymac, founded in 2008, services approximately $720 billion in unpaid principal balance and originated $154 billion in new loans during the 12 months ending March 31. The company employs about 5,300 people nationwide.

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