Better’s new ChatGPT app targets lenders Rocket and UWM
(CNBC): Better.com partners with OpenAI to launch an app within ChatGPT that drastically reduces mortgage underwriting time, potentially reshaping the U.S. home-loan market.
Better.com has teamed up with OpenAI to introduce an app that significantly shortens the mortgage underwriting process, potentially revolutionizing the industry. This collaboration aims to cut down the time it takes to underwrite loans, saving lenders an average of 21 days and ultimately reducing costs for consumers. The app combines Better’s mortgage engine with OpenAI’s models to streamline the underwriting process for loan officers across various financial institutions. This advancement in AI technology could potentially transform the traditional mortgage market, which processes over $1 trillion in mortgages annually.
