National lender adopts AI pre-underwriting technology to support production growth without adding fulfillment staff
SEATTLE, Wash. /Massachusetts Newswire – National News/ — Friday Harbor, an AI-powered platform that helps loan officers assemble complete and compliant loan files in real time, today announced that Waterstone Mortgage has implemented its AI pre-underwriting platform to strengthen file quality and expand underwriting capacity across the lender’s nationwide retail operation.
Waterstone Mortgage, a national retail lender with more than 200 loan officers operating in 48 states, deployed Friday Harbor to help surface issues earlier in the loan process and deliver cleaner files to its lean underwriting team. Since implementation, Waterstone has seen stronger pre-approval confidence, faster file resolution and fewer conditions at the underwriting desk.
“Cleaner files mean our underwriting team can focus on high-value risk decisions instead of clearing avoidable conditions,” said Jake Rowoldt, vice president of information services at Waterstone Mortgage. “Friday Harbor is the first AI solution we’ve tried that actually delivers on what it promises. It’s helping us scale production while maintaining the standards that define our business.”
Friday Harbor analyzes loan files during origination to flag missing documents, surface income calculation issues and identify potential underwriting conditions. The tool evaluates files against investor guidelines and lender overlays, providing loan officers with visibility into problems that would otherwise emerge days or weeks later in the process.
“Waterstone approached this implementation with a clear understanding of what they needed: a way to improve file quality without disrupting their workflows or undermining the expertise of their underwriters,” said Theo Ellis, CEO of Friday Harbor. “Their success demonstrates what becomes possible when lenders use AI to support judgment rather than replace it.”
Waterstone piloted Friday Harbor in late 2024 and has since rolled the platform out across its sales and operations teams. Loan officers report that Friday Harbor’s income and asset calculations align closely with their own analysis and underwriting’s final determinations, building confidence in pre-approval scenarios involving complex borrower situations.
The implementation has driven strong engagement, with teams actively incorporating the platform into their daily workflow within weeks of launch. The integration with Waterstone’s Encompass loan origination system from ICE Mortgage Technology allows loan officers to access Friday Harbor’s capabilities without disrupting their established processes.
To learn more about how Waterstone and Friday Harbor are working together, download the case study: https://fridayharbor.ai/fh-waterstone-case-study-2026-03-03.pdf.
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/.
Learn More: https://fridayharbor.ai/
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NEWS SOURCE: Friday Harbor. Story was sourced from a press release issued by Send2Press® and used with permission. View the original story at: https://www.send2press.com/wire/friday-harbor-partners-with-waterstone-mortgage-to-expand-underwriting-capacity/
