Better Bets On Chatgpt As The New Front Door For Origination

Better.com says that its new integration with ChatGPT is more than a flashy plugin. According to CEO Vishal Garg, it’s a tool that could shift how mortgage technology is distributed and adopted across the industry.

In early March, Better announced the conversational credit decision engine that allows lenders to run underwriting through ChatGPT using its Tinman AI platform.

In an interview with HousingWire shortly after the launch, Garg said the strategy is aimed at reducing friction in adopting mortgage technology by embedding Tinman into an interface many users already understand.

“People already know how to use these large language models in their day-to-day lives,” Garg said. “It creates a single interface instead of the thousands of buttons traditionally required.”

The company’s Tinman platform connects to underwriting systems, loan data and guidelines, including those from Fannie Mae and Freddie Mac. This allows loan officers or brokers to input borrower information conversationally and receive near-instant eligibility and product recommendations.

Garg pointed to early results from NEO Home Loans, powered by Better, which reduced its costs to originate by 30% and doubled its business. He also acknowledged that onboarding lenders onto new systems has historically taken months due to training requirements and resistance to change, particularly among experienced loan officers accustomed to legacy systems.

The ChatGPT integration, he said, significantly shortens that timeline.

“We’ve taken what used to be a three- to six-month sales cycle and made it nearly frictionless,” Garg said, adding that some lenders can begin using the system within days after implementation.

Garg added that he has been “working till like 1 a.m. every night,” fielding inbound interest from banks and lenders that have seen demos. One recent bank call, he said, went from first demo to “OK, how do we get started?” in 22 minutes.

Under the model, lenders must sign up as Tinman clients, but Garg said access has been simplified to resemble a standard software onboarding process. He added that banks, many of which have exited mortgage lending, could reenter the space more quickly using the platform.

“There are about 6,000 banks in America. Most of them are not in the mortgage business anymore,” he said. “They can be back in the mortgage business in a matter of days.”

Matt Brown, a Naples, Florida-based real estate agent and broker associate at William Raveis, said that “the industry impact is projected to be significant, particularly in how loans are processed, though it may take time for full adoption.”

Brown also said that the move means Better is transforming from a direct-to-consumer lender into a “mortgage-as-a-service” provider.

Garg also emphasized that lenders using Tinman retain ownership of their customer relationships, with Better acting as the technology provider rather than the borrower-facing brand.

The borrower experience

On the consumer side, Better is testing a fully conversational mortgage experience on its website, replacing traditional application forms with a chat-based interface powered by its AI assistant.

Ravi Velampally, founder of HBN-Tech.com, a proptech platform that connects homebuyers with lending and real estate professionals, said that the bigger implication of Better’s integration is structural.

“Better is changing underwriting from a process inside systems to an intelligence layer that’s accessible anywhere,” Velampally said. “This could actually change the industry, not because of ChatGPT itself, but because decision-making is moving from siloed loan originating system workflows into real-time artificial intelligence-driven infrastructure.

“The idea that mortgage underwriting is moving to an intelligence layer accessible is a big deal,” he added. “Tinman is already trained on over a decade of mortgage data and billions of documents. ChatGPT makes that intelligence accessible in real time.”

In the coming months, Garg said borrowers may be able to use personal AI agents like ChatGPT to complete mortgage applications on their behalf, though final authorization steps like document signing would still require borrower consent.

“Our client retains the customer,” Garg said. “Tinman is the platform; Better.com DTC is a client.”

The broader vision, Garg reiterated, includes AI systems that can monitor a consumer’s finances, track home listings and notify users when they are financially ready to purchase.

The early response from lenders has been strong, according to Garg, who said demand has accelerated the company’s sales pace. “We’re seeing people go from demo to getting started in minutes,” he said.