Tidalwave, an AI-driven mortgage point-of-sale platform, has secured $22 million in a Series A funding round led by Permanent Capital, with participation from D.R. Horton, the largest homebuilder in the U.S., and Engineering Capital. This latest round brings Tidalwave’s total funding to $24 million. The company is positioning itself to capture 4% of the U.S. mortgage market by addressing inefficiencies in the loan closing process, which averages 43 days and involves extensive manual data entry across various systems. The platform uses autonomous software agents to handle tasks like verification and underwriting, drastically reducing the need for manual oversight. Research from Freddie Mac indicates that lenders using digital automation can cut origination costs by $1,500 per loan, enhancing profitability and customer satisfaction. Tidalwave's direct integrations with Fannie Mae and Freddie Mac allow for instant underwriting verifications, while partnerships with companies like Plaid and Argyle facilitate real-time income and employment verifications. In recent months, major players in the mortgage industry, such as NEXA Lending and First Colony Mortgage, have adopted Tidalwave’s platform to simplify applications and speed up approval times. Jason Duboe from Permanent Capital highlighted Tidalwave's effective application of AI to tackle a significant industry challenge. D.R. Horton’s CEO, Mark Winter, emphasized the alignment between their goals and Tidalwave's potential to advance the mortgage process through AI, suggesting a strong collaborative future in transforming lending practices.