Real Estate
Home›Real Estate›Residential›NEO says AI boosts mortgage underwriting and closing o…
NEO says AI boosts mortgage underwriting and closing output
At the HousingWire AI Summit, NEO Home Loans President Ryan Grant said AI has helped underwriters raise throughput, with each handling eight to 10 loans a day versus two to three previously.
HousingWire reports that at the HousingWire AI Summit, NEO Home Loans President Ryan Grant discussed how the company’s partnership with Better Mortgage is translating artificial intelligence into mortgage production gains.
Grant said NEO views Better’s recent CEO transition as a shift toward disciplined execution of its technology platform, after Better CEO Vishal Garg stepped down and board member Daniel Lewis became interim CEO.
According to Grant, NEO has been partnered with Better since January 2025 and is focusing on applying AI to increase productivity across underwriting and closing. He also said NEO’s approach to measuring “cost to produce” centers on the full mortgage manufacturing process, including underwriting, closing, funding, post-closing and shipping.
Grant said that at NEO, underwriters who previously handled two to three loans per day can now process eight to 10, with about half of files requiring little or no additional manual work.