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Stock impact report

Better says AI app OKs home loans in seconds, challenging Rocket, UWM [Yahoo! Finance]

Better Home & Finance Holding Company - Class A (BETR) 
Last better home & finance holding company - class a earnings: 11/7 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
New York City-based Better.com has launched an AI app it claims will allow lenders to underwrite home loans in as little as seconds compared to what's now a weeks-long process on average, a possible threat to Michigan-based rivals Rocket Mortgage and United Wholesale Mortgage. The digital mortgage lender partnered with ChatGPT maker OpenAi to make what it calls Tinman, which Better Home & Finance Holding Company said uses a decade of home financing data and $110 billion in past loan decisions to analyze and underwrite home loans. More: MI Dream Home: Bloomfield Hills estate has extraordinary kitchen "The mortgage industry is riddled with inefficiencies that hurt consumers, as well as the loan officers and lenders who serve them. Big mortgage aggregators in the broker and correspondent channel charge what is essentially a 1-2% tax on each loan just to underwrite a mortgage and deliver it to an institutional investor. That ends now,” Tinman AI Platform general manager Leah Price Show less Read more
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