Home News Peter Thiel’s Palantir Teams Up With Better To Create ‘Bloomberg’ for Home Loans

Peter Thiel’s Palantir Teams Up With Better To Create ‘Bloomberg’ for Home Loans

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the mortgage company faced criticism After laying off 900 people at Zoom late last year, it is “partnering” with Palantir Technologies, a big data software company co-founded by Peter Thiel. announced by the company Wednesday.

The partnership will enable mortgage lender Better to rapidly create an enhanced mortgage platform.Bloomberg on the loanThe upcoming digital mortgage product will help organizations make more loans to unconventional borrowers, but will be marketed to investors and mortgage originators alike.

Sophisticated marketplace Tinman combines Better’s loan platform with Palantir’s operating system to speed up and simplify the underwriting process, giving industry investors and government-backed companies such as Fannie Mae and Fannie Mae the power to Create a data-heavy platform. Freddie Mac plans to make “more granular data-driven mortgage capital allocation decisions.”

Working for Better or Palantir? We want to hear from you. From a non-working device, please contact reporters at [email protected] or via Signal at 310-614-3752 for added security.

Theoretically, this new product allows third parties to surpass traditional metrics like credit scores and loan-to-value ratios by also considering freelance income, rent payment history, medical debt, student loans, and more. Garg told Insider that it will allow you to look beyond.

Palantir and Better say the feature, which allows lenders to easily consider unconventional data points, will open up homeownership opportunities for those struggling to get loans.

“Tools of this kind are an important step towards achieving a fairer and better housing finance market,” Garg said in a prepared statement.

Better, which finances mortgages and helps affiliates provide mortgages, titles and homeowners insurance, was ranked among LinkedIn’s top startups in 2021 and 2020. Loan refinancing.

Then, in December, Garg faced a nationwide outcry for laying off hundreds of employees at Zoom and failing in other ways. Flow of dismissal.

By the first quarter of this year, The company’s income was half A year ago. Now, the company is rushing to put its shop in order ahead of a later-year deadline for completing a SPAC contract with Aurora Acquisition Corp.

should be previously planned According to insiders, the partnership with Palantir has allowed the company to do in a matter of months what it had planned for the next five to 10 years.

Palantir, a famous secretive and said to be all-seeing,Secondary monitoring network” And worked with immigration, customs enforcement, and law enforcement agencies.

The company’s chairman, Thiel, writes that he does not believe.Freedom and democracy go hand in hand” When I recently stepped down from Facebook’s board of directors To focus on supporting Trump-related political candidates.

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