Better Integrates OpenAI To Automate Mortgage Underwriting
Better, an online mortgage platform, has partnered with OpenAI to launch a ChatGPT app that accelerates mortgage and home-equity underwriting, CNBC reported on Thursday. Company executives say the integration reduces average underwriting time from about 21 days to as little as 47 seconds by running parallel workflows across appraisals, title, income and credit checks. Better presents the tool as a mortgage-as-a-service product for lenders and fintechs, potentially lowering consumer costs.
Key Points
- 1Launches ChatGPT app combining Better's mortgage engine with OpenAI models to underwrite loans.
- 2Reduces average underwriting time from about 21 days to roughly 47 seconds, cutting operational costs.
- 3Enables lenders and fintechs to adopt mortgage-as-a-service, accelerate pipelines, and lower consumer prices.
Scoring Rationale
High industry impact from a confirmed Better–OpenAI partnership, but company-led claims require independent external validation.
Sources
Public references used for this report.
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