Better.com’s Betsy Cuts Origination Costs By 41%, Case Study Says

Better.com is using artificial intelligence to handle tens of thousands of mortgage calls each month, cutting costs and speeding service for borrowers, according to a new case study from ElevenLabs, an AI audio company.

The company’s generative AI loan agent, Betsy, powered by ElevenLabs Agents, managed nearly 100,000 borrower calls per month in 2025 and automated 35.5% of inquiries from start to finish. The system placed 1.89 million calls last year, saving loan officers more than 1,600 hours each month in aggregate, the study found.

Better.com initially used a speech-to-speech model but switched to a modular system that combines speech-to-text, text-to-speech and a large language model for faster, more reliable service.

ElevenLabs Agents serve as the controlled voice interface, communicating loan eligibility, pricing and approvals from Better.com’s proprietary loan engine, Tinman, while complying with regulatory requirements.

“By combining Tinman with ElevenLabs’ technology, we’ve scaled the first voice-based AI loan agent built exclusively for the mortgage industry,” Vishal Garg, founder and CEO of Better.com, said in a statement. “AI-voice automation through Betsy has allowed us to move routine customer interactions out of manual workflows, helping us reduce the cost to originate while offering borrowers immediate and 24/7 support.”

The case study found that AI voice automation delivered a 41% reduction in the average cost to originate and doubled lead-to-lock conversion in 2025. Better said operational efficiencies have also allowed it to offer more competitive rates.

“Supporting nearly 100,000 borrower interactions a month in a highly regulated space like mortgage requires more than a great voice model,” said Lauren Rothwell, head of agents growth at ElevenLabs. “It requires reliability, accuracy, and full compliance — and that’s exactly what ElevenLabs is built to deliver.”

The AI system frees Better.com’s licensed consultants to focus on complex borrower scenarios, allowing the company to scale service without compromising compliance.

“Introducing Betsy as an AI loan agent has helped enable our customers to go from click to close after business hours, or when loan officers can’t get to the phone,” Garg told HousingWire. “Betsy is much more than an AI appointment scheduler or AI voice bot that exists to connect borrowers with a human representative: It’s a sophisticated, full-stack AI loan officer, processor, underwriter and closer of the future, and it’s only available on Tinman.”

Garg said that beyond the measurable impact of Betsy showcased in the ElevenLabs case study, Betsy is able to perform calculations and can instantly make suggestions on how to optimize rates across more than 26,000 product and investor permutations.

“When a borrower is ready to talk to a human loan officer, it’s able to recall everything the borrower has ever discussed with Better’s sales and ops team and provides full context of the borrower’s interactions across all channels, outstanding tasks, and completed tasks based on its memory,” Garg said. “Borrowers never have to waste time resharing or repeating information again with Betsy.

“We deployed Betsy in October 2024, which means it’s been in production for just over a year, and we already believe it has the potential to compete with refinance loan officers in the lowest production tier across the industry. As we continue to iterate, Betsy gets faster and becomes more intelligent, and I am excited to see how it’ll continue to scale and improve efficiency by it’s two-year anniversary.”