News Source: Friday Harbor
New functionality generates plain-language, color-coded conditions with full audit trail, enabling originators to resolve issues in real time and cut days off the loan process
SEATTLE, Wash., May 29, 2025 (SEND2PRESS NEWSWIRE) — Friday Harbor, an AI-powered platform that helps loan officers assemble complete and compliant loan files in real time, today announced the launch of a retooled condition engine that automatically generates actionable underwriting conditions based on borrower source documents and loan guidelines.
Image caption: Friday Harbor.
Unlike traditional “stare and compare” tools that flag generic issues, Friday Harbor’s condition engine reads the full context of the loan file—including borrower documents, AUS findings and lender overlays—and outputs conditions that are immediately usable by loan officers, processors and borrowers. Each condition is written in plain English, color-coded by urgency and supported by documentation that gives underwriters a ready-made audit trail.
“In most mortgage workflows today, identifying conditions is a game of hot potato between departments. Friday Harbor solves that by delivering conditions in real time that are actionable at the beginning of the borrower journey, not just in the underwriting queue,” said Theo Ellis, co-founder and CEO of Friday Harbor. “We’re empowering originators to spot and solve issues earlier, which leads to cleaner files, faster closings and dramatically lower costs to originate.”
The new engine doesn’t just catch obvious clerical gaps. It’s also trained to spot nuanced issues such as:
- Red flags for occupancy and other types of fraud
- Unexplained large deposits
- Missing documentation
- Undisclosed liabilities
For each flagged issue, Friday Harbor provides a proposed resolution path and direct links to applicable guidelines. For junior loan officers, the engine pairs with the platform’s AI-powered Scenario Desk to explain next steps or script borrower communications. For underwriters, it offers full traceability, with source documents and reasoning behind every condition.
Friday Harbor’s AI underwriter is already used by some of the nation’s most forward-thinking lenders, including Partners Bank, NewFed Mortgage, Developer’s Mortgage Company and Paramount Residential Mortgage Group. The company is backed by the AI2 Incubator, a technical incubator born from the Allen Institute for AI in Seattle, and was recently funded by leading Silicon Valley venture firms including Abstract Ventures, Mischief and Wischoff Ventures.
To learn more about how Friday Harbor is helping level the playing field for the more than 4,500 mortgage lenders competing with the tech arms of Rocket and UWM, visit https://fridayharbor.ai/.
About Friday Harbor:
Friday Harbor is an AI-powered platform that helps loan officers assemble complete and compliant loan files in real time. The company combines deep fintech expertise with cutting-edge artificial intelligence to remove complexity, slash origination costs and deliver a better borrower experience. For more information, visit https://fridayharbor.ai/.
Tags: #mortgagetech #AI #fintech
This press release was issued on behalf of the news source (Friday Harbor), who is solely responsible for its accuracy, by Send2Press Newswire.
To view the original story, visit: https://www.send2press.com/wire/friday-harbor-unveils-ai-powered-condition-engine-to-deliver-faster-cleaner-audit-ready-mortgage-files/
Copr. © 2025 Send2Press® Newswire, Calif., USA. -- REF: S2P STORY ID: S2P126577 FCN24-3B
INFORMATION BELOW THIS PAGE, IF ANY, IS UNRELATED TO THIS PRESS RELEASE.
