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Better and OpenAI Put Mortgage Underwriting in ChatGPT for Lenders

Initial access is limited to loan officers in ChatGPT Enterprise, with claims of seconds-long decisions not yet independently verified.

Overview

  • The Tinman AI app operates inside ChatGPT Enterprise via a Model Context Protocol connector, allowing lenders to plug in their own guidelines, pricing and CRM data for decision-ready files.
  • Loan officers can underwrite to criteria from more than 45 investors, including Fannie Mae, Freddie Mac, the FHA and major banks such as JPMorgan Chase, Truist and U.S. Bank.
  • Reported processing times are as fast as 47 seconds with a median of about 2 minutes 24 seconds, compared with an industry average near 21 days.
  • Better casts the launch as a mortgage-as-a-service pivot intended to help competitors challenge Rocket Mortgage, United Wholesale Mortgage and Pennymac on speed and cost.
  • The company cites prior cuts in origination costs to roughly $3,000 and says Tinman is trained on data from $110 billion in funded loans, 12 million calls and more than 5 billion pages of documentation.