Mortgages in 47 seconds: Better’s new ChatGPT app targets lenders Rocket and UWM [MSNBC.com]
PennyMac Mortgage Investment Trust Common Shares of Beneficial Interest (PMT)
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Source: MSNBC.com
The online mortgage platformBetterOpenThe app, to be announced later Thursday, takes Better's mortgage engine and combines it with Open's models to speed up the underwriting process for loan officers working at banks, mortgage brokers and fintech firms, Better CEOVishal Garg"Taking the mortgage underwriting process, which so many of us have experienced personally, from 21 days to as little as 47 seconds and enabling it via ChatGPT is a huge unlock for everyone," Giancarlo Lionetti, Open's chief commercial officer, said in a statement provided to CNBC. "Open is proud to partner with Better to build technology that revolutionizes the mortgage industry and makes it cheaper, faster, and easier for American families to finance a home."For decades, creating a mortgage has been one of the most time-consuming corners of American finance, with lenders relying on dozens of steps that can take weeks to complete. After the 2008 financial crisis, big banks likeJPMorgan ChaseRocket MortgageUnited W
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PMT
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- 1/29/26 - Beat
PMT
Sec Filings
- 3/3/26 - Form 4
- 3/3/26 - Form 4
- 3/3/26 - Form 4
- PMT's page on the SEC website