Some companies that were red-hot during the COVID housing market had to either pivot or die when rates rose and major funding rounds dried up. But green shoots may be emerging
The goal is to maximize 2 new partnerships and 4X Better's monthly mortgage originations to $2B. The raise follows bullish endorsement by activist Opendoor investor Eric Jackson
CEO Vishal Garg is optimistic about the future after cutting mortgage lender's annual net loss by 61%, to $206M, growing loan production by 19%, to $3.6B, and revenue by 50%, to $108M
'Better Forever' incentive will not be offered on HELOCs, nor to borrowers who apply for a mortgage through third-party platforms like LendingTree, CreditKarma, Bankrate or Nerdwallet
The companies that can afford to, including Zillow, are aggressively growing MLO headcount in order to capture future market share, Mike DelPrete writes
Having pivoted from refinancing to purchase loans, CEO Vishal Garg says investment in AI technology and partnerships with retailers like NEO Home Loans will fuel cost-effective growth
Even in a down market, companies can uncover key insights to grow market share, Mike DelPrete writes, as long as they have the cash to invest
The lender boosted mortgage volume 25% from Q4 but suffered a $51M loss, according to Q1 earnings data on Tuesday. CEO Vishal Garg said Better's future 'lies in Uberizing the loan officer'
Former operations head Sarah Pierce, who had accused Better CEO Vishal Garg of providing misleading information to investors in leadup to SPAC, faced $2.76M judgment in countersuit
Veterans and active duty servicemembers can use the company's Tinman platform to see their rates and get pre-approved in minutes and may qualify to buy a home with no down payment
After months of beta testing, loanDepot's melloNow underwriting engine can analyze credit reports, detect fraud, and validate income and employment data without human assistance
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 platform
Co-branded ComeHome solution on Ally's website provides would-be homebuyers with access to listings and loan options and encourage homeowners to explore refinancing
A $565M influx of cash from an August SPAC merger and a $1B reduction in annual expenses puts Better on a footing to navigate a challenging market, executives say on first earnings call
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