Better.com offers instant mortgages using AI and ChatGPT
Better.com has plugged its Tinman AI Platform into ChatGPT, thanks to a partnership with OpenAI.
Now, a loan officer can underwrite a mortgage and generate a qualification letter in just over two minutes instead of the usual 21 days—no more endless waiting or paperwork headaches.
Tinman AI can cut loan origination costs
Tinman AI automates many components from underwriting to pricing and approvals, using data from billions of pages and $110 billion in loans.
This tech cuts loan origination costs from $9,200 to about $3,000 per loan and can triple productivity for lenders.
This could shake up big players like Encompass
This is a major end-to-end upgrade and could shake up big players like Encompass.
Better.com is already expanding with new partners and nationwide API efforts—so faster, cheaper mortgages might become the new normal.