Beeline, which was formed in 2018, offers a range of mortgage products for homebuyers, existing homeowners, and investors. The company recently partnered with Vesta, a mortgage loan origination software company, to streamline the origination of their diverse loan offerings. Beeline also provides leads to Realtors and offers title agency and escrow services in some markets. The company raised $22 million in a Series A funding round in 2021.
Key takeaways:
- Beeline Loans Inc. has launched an AI mortgage chatbot named Bob, which it claims is the world's first. The chatbot is designed to provide real-time information and help borrowers understand their options.
- The launch coincided with news that federal regulators are investigating the maker of ChatGPT, a component of Bob, for potential violations of consumer protection law. However, Beeline's CEO Nick Liuzza is not concerned, stating that ChatGPT is only a small part of Bob and that the company has ensured compliance with relevant laws.
- Bob is described as an AI orchestration system that ties together several AIs, each trained to perform a specific task. It was built entirely in-house by a product team based in Australia.
- Beeline Loans Inc., previously known as Rabbit Mortgage, raised $22 million in a Series A funding round in 2021. The company offers a range of mortgage products and recently partnered with mortgage loan origination software company Vesta.