HousingWireHousingWire
Mortgage technology platform Prudent AI on Monday announced the promotion of Paul Gigliotti to the role of chief growth officer. Gigliotti has more than 20 years of experience in the mortgage lending and fintech realms, and he will oversee the company’s revenue, sales and marketing strategies.
“Paul’s exceptional ability to identify strategic opportunities and forge meaningful industry partnerships has already made a significant impact since he joined our team,” Srikanth Rajaraman, co-founder of Prudent AI, said in a statement.
“As we enter this next phase of growth, his leadership will be instrumental in expanding our reach and helping more lenders transform their operations with our AI-powered platform.”
Prudent AI specializes in solutions for nonqualified mortgage (non-QM) lenders. It has expanded its income calculation and prequalification tool to serve lenders across the agency, nonagency and business-purpose sectors.
The company explained that Gigliotti’s promotion is coming at a time when mortgage lenders are looking to “enhance effiency and reduce costs.” Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks were largely profitable in 2024, according to Mortgage Bankers Association data, but that came on the heels of two straight years with net losses for the IMB segment.
“The lending industry is at a pivotal crossroads, where traditional models built for W-2 borrowers are increasingly misaligned with today’s workforce reality,” Gigliotti said in a statement. “At Prudent AI, we’ve recognized that the self-employed market represents not just a segment, but a multi-trillion-dollar opportunity that remains largely untapped.
“With self-employed individuals making up over 10% of the U.S. workforce and having four times the median net worth of traditionally employed families, we’re committed to revolutionizing how lenders evaluate these borrowers. Our AI-powered platform transforms frustrating, manual processes into streamlined, accurate assessments — reducing loan pre-approval times from hours to minutes while delivering exceptional precision.”
The company said in its announcement that its AI-powered platform allows business partners to process “diverse income documentation” such as “complex bank statements that traditionally require hours of manual review.”
Prudent AI reported that lender partners utilizing the company’s tech offerings have been able to reduce loan preapproval times from hours to only 15 minutes. This has added up to tens of thousands of dollars per monthly in operational cost savings, sales volume capacity increases of up to 300%, and time savings of 3.5 hours per loan application.
“Paul embodies our commitment to human-centered innovation,” Prudent co-founder Jayendran GS said. “He understands that the most powerful technology solutions don’t replace human expertise — they enhance it.
“His deep industry knowledge and passion for empowering lending professionals align perfectly with our mission to revolutionize the lending process while keeping skilled professionals at the center of decision-making.”
