"Garg pointed to early results from NEO Home Loans, powered by Better, which reduced its costs to originate by 30% and doubled its business."
"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 also emphasized that lenders using Tinman can quickly reenter the mortgage business, stating that there are about 6,000 banks in America, most of which are not in the mortgage business anymore."
"Matt Brown noted that the industry impact is projected to be significant, particularly in how loans are processed, though it may take time for full adoption."
The Tinman platform integrates with underwriting systems and loan data, enabling quick eligibility checks and product recommendations for loan officers. Early results show a 30% reduction in origination costs and doubled business for NEO Home Loans. The integration of ChatGPT has shortened onboarding timelines from months to days, allowing lenders to quickly reenter the mortgage market. The platform simplifies the onboarding process, making it easier for banks to participate in mortgage lending again. Industry experts predict significant impacts on loan processing, although full adoption may take time.
Read at www.housingwire.com
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