Chestnut is the first AI mortgage lender. Our AI agents help consumers save 0.5%+ in interest compared to traditional lenders.
Today, 80% of employees at traditional lenders spend hours each day filling out paper forms, manually reviewing documents, and copy-pasting data between systems. These manual processes cost lenders – and ultimately their borrowers – $12,000+ per loan ($61B+ per year).
AI can automate 99% of mortgage operations, but traditional lenders would take 10+ years to adapt. They’d have to overhaul their entire tech stack, rewrite every procedure, and retrain their whole workforce. Chestnut is vertically integrating AI to challenge traditional lenders directly.
Founder Spencer Brown’s previous startup built a mortgage Loan Origination System that powered $85B+ in mortgage volume (1-2% of all US mortgages/yr).
We’re currently licensed in Texas and Colorado, helping clients with home purchases, refinances, cash-outs, and home equity lines of credit.