Better launches ChatGPT-based mortgage credit decision engine

"Loan officer teams and banks can simply log into their ChatGPT Enterprise account, download the Tinman AI credit decision engine app, connect their guidelines, pricing, and CRM to process, underwrite, and fulfill loans nearly instantly; passing thousands of dollars in savings to consumers."

"Better said its platform maintains a real-time snapshot of each loan file including facts, documents, actions and outstanding conditions and uses an underwriting orchestrator to route work to specialized agents that read documents, apply guidelines and return a decision-ready status with a granular decision tree."

"Tinman is trained on more than a decade of Better's internal mortgage data, according to a company press release. Better said the platform has mapped roles, tasks, rules and decisions across over $110 billion in funded loans, more than 12 million recorded customer calls and more than 5 billion pages of credit, income, collateral and asset documentation."

Tinman AI, integrated with ChatGPT Enterprise, revolutionizes mortgage underwriting by automating the process through AI-powered decision engines. Loan officers can upload consumer application data and documents to receive complete underwriting decisions in as little as 47 seconds, with a median time of 2 minutes and 24 seconds. The platform supports guidelines from over 45 institutional investors, including government-sponsored enterprises and major financial institutions. Tinman maintains real-time loan file snapshots and routes work to specialized agents that read documents, apply guidelines, and generate decision-ready statuses. Trained on over a decade of Better's mortgage data, including $110 billion in funded loans and 5 billion pages of documentation, the platform represents an alternative to traditional loan origination systems and delivers significant cost savings to consumers.

Read at www.housingwire.com