Ally, which originated $1B in mortgages in 2023 through a partnership with Better and is an investor in the company, is laying off hundreds of employees and exiting the mortgage business
Better's market share has shrunk by more than 70% in the last year as it focuses on making more profitable loans, with partners like Ally Bank and American Express generating 42% of business
Comparing himself to Henry Ford and Elon Musk, CEO says he's reconfigured Better's assembly line to crank out mortgages in a single day