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
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
JD Power warns that the mortgage customer experience is increasingly commoditized, with few lenders finding the right formula to be seen as trusted advisers
Hawaii, Nevada, New Hampshire and New York are the final states to check off in order for Ally to realize its goal of providing digital mortgages nationwide
The New York City-based digital mortgage startup plans to use the money to grow its team and technology products at a time when mortgage demand is booming
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