NEO Home Loans President Discusses Better's Leadership Change

Ryan Grant, president of NEO Home Loans, addressed the implications of Better Mortgage's recent leadership change during the third annual HousingWire AI Summit. The discussion occurred approximately one week after Vishal Garg stepped down as CEO of Better Home & Finance Holding Co., with board member Daniel Lewis assuming the role of interim CEO. NEO Home Loans has been partnered with and powered by Better since January 2025. Grant characterized the leadership transition as a natural progression for Better, suggesting the company is now at a stage where it must prioritize the execution of its established technology platform before embarking on further innovation. He emphasized that while vision is crucial, disciplined execution by an operator is essential for realizing future advancements, preventing them from becoming mere "noise." The leadership shakeup has prompted scrutiny regarding Better's continued commitment to substantial investments in artificial intelligence and other technologies, particularly in light of profitability and spending concerns. When questioned by HousingWire CEO Clayton Collins about this, Grant asserted that the company has "barely scratched the surface" of AI's potential. He articulated a vision for transforming the mortgage industry from its current "antiquated, human-centered" model to one fully leveraging technological capabilities. A significant portion of Grant's presentation focused on the influence of AI on the cost of mortgage production. He advocated for the establishment of a standardized definition for "cost to produce" a loan, highlighting the current variability in how lenders calculate this metric. This variation stems from differences in operational channels (retail, wholesale, direct-to-consumer) and the specific expenses included in their calculations. Grant provided an example from NEO's perspective, stating that the company concentrates on the manufacturing aspect of the mortgage process. He further elaborated on how AI can optimize various stages of loan origination, from initial application and underwriting to closing and servicing, thereby reducing operational overhead and accelerating turnaround times. Grant suggested that by automating repetitive tasks and enhancing data analysis, AI can free up human capital for more complex decision-making and customer-facing roles. The integration of AI is not solely about cost reduction but also about improving the accuracy and efficiency of loan assessments, potentially leading to better risk management for lenders and more tailored product offerings for borrowers. The ongoing evolution of AI in the mortgage sector, as discussed by Grant, points towards a future where technology plays an increasingly central role in delivering financial services, with companies like Better and NEO Home Loans at the forefront of this transformation. The leadership change at Better, while a significant event, is viewed by Grant as an opportunity to refine execution and deepen the impact of the technology already in place, rather than a signal of reduced technological ambition.