Why AI Underwriting Software Is a Boon to the CRE Loan Sector in 2023
Artificial intelligence (AI) underwriting software has the potential to revolutionize the commercial real estate (CRE) loan sector in 2023. These cutting-edge technologies can streamline the underwriting process, improve risk assessment, and increase the speed of loan approvals. The CRE loan sector in the US is huge. According to IBIS World, the market size of the CRE loan sector is measured to be approximately $1.2 trillion in 2023 in the US. Hence, it is not easy to handle such a huge market manually. AI underwriting software helps increase loan processing speed, saving lenders and borrowers time and effort.