CEO Vishal Garg is optimistic about the future after cutting annual net loss by 61 percent, to $206 million, and growing loan production by 19 percent and revenue by 50 percent. Continue reading
Contributing investors included Alpaca VC, Hometeam, Animo Ventures and ResilienceVC. Funds will help Foyer integrate “down payment assistance, credit score recommendations, and mortgage guidance into an educational and data-driven journey.” 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
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
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
Following six merger adjustments over two years, Better will go public Thursday with $565 million in new funding and plans to “aggressively” partner with agents as it builds its mortgage production team. Continue reading
Shareholders on Friday overwhelmingly approved a plan to merge mortgage lender Better HoldCo with the Aurora Acquisition Corporation. The deal is expected to close before the end of August. Continue reading
Troubled mortgage lender had touted Better Real Estate as a crucial component of its plans to build out an integrated end-to-end technology platform. Continue reading