Spruce Launches Automated Underwriting Model

April 13, 2021

Spruce recently launched a new underwriting model aimed at providing a fully underwritten title commitment in minutes.

According to a release, Spruce said the automated search pulls from a combination of proprietary data science, machine learning, and private and public data sources. Complementing existing underwriting standards, Spruce said its approach can reduce multiple-day searches to a few minutes resulting in lower operational costs.

"The technological capabilities we've built at Spruce are fundamentally changing the way we process real estate transactions for the better," said Patrick Burns, CEO and co-founder of Spruce. "The demand for an automated, sophisticated, and predictable clear to close process is greater than ever as more companies are trying to give homeowners and investors a genuinely fairer deal."

The automated underwriting model was launched in Colorado and Arizona and in conjunction with Spruce's partnership with American Digital Title Insurance Company.

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