As Better reports $543 million 2023 loss, CEO Vishal Garg says the company has made fundamental changes to its business model that will help it pivot to providing purchase loans to homebuyers. Continue reading
Borrowers can use the company’s Tinman platform to see their rates and get pre-approved in minutes, and may qualify to buy with no down payment. Continue reading
Leaders from Better, Point and EasyKnock said that consumers are becoming increasingly curious about alternative financing options — but they still need agents to help guide them. Continue reading
Better is the first lender to take advantage of the opportunity to generate prequalification letters for homebuyers through integration with Lone Wolf’s transaction management solution, Transactions. Continue reading
A $565 million influx of cash from an August SPAC merger and a $1 billion reduction in annual expenses put Better on a footing to navigate a challenging market, executives say. Continue reading
Better, which has had a strategic partnership with Ally Bank since 2019, is looking to partner with more lenders by launching a white-labeled “mortgage-as-a-service” platform with Infosys. Continue reading
The mortgage lender said $100 million in retention bonuses were distributed to employees in April, as promised, including $50 million from Better co-founder and CEO Vishal Garg’s personal equity. Continue reading
The lender has become more reliant on its B2B channel, with partnerships alongside companies like Ally Bank and American Express accounting for nearly half of its mortgage originations. Continue reading
Better’s market share has shrunk by more than 70 percent in the last year as it focuses on making more profitable loans, with partners like Ally Bank and American Express generating 42 percent of its mortgage business. Continue reading
In addition to going public at a bad time for mortgage lenders, Barron’s reports that a SPAC merger resulted in a huge increase in the number of shares outstanding. Continue reading