Better’s Post

As Better.com readies for its public debut, CEO Vishal Garg says he went through ‘a lot of leadership training’ Online mortgage lender Better.com is making its public debut Thursday on the Nasdaq Capital Market under the ticker symbols “BETR” and “BETRW.” The stock will be priced at $10 per share. After merging with SPAC Aurora Acquisition Corp., the combined entity is called Better Home & Finance Holding Company. The deal unlocks about $565 million of fresh capital for Better.com, including a $528 million convertible note from affiliates of SoftBank and additional common equity from funds affiliated with NaMa Capital (formerly Novator Capital) — an investment firm that sponsors Aurora. The company could use the funds. Better.com posted a net loss of $89.9 million in the first quarter and slashed about 91% of its workforce over an approximately 18-month period. While the startup has narrowed its loss compared to a net loss of $327.7 million in the first quarter of 2022, it clearly still has been struggling amid high mortgage interest rates and a national housing market slowdown. The company also suffered significant damage to its reputation since December 2021, making the move from a private entity to a public one in this case is a particularly bold one. Better...

Revolution Mortgage Saves 70% on Verifications 🚀 🔍 The Challenge: 💸 High costs from outdated VOIE and VOA providers. 🐢 Loan delays due to inefficient review processes. 😟 Borrower frustration with slow, costly, and complex processes. 💡 The Solution: Verification of Income & Employment, Verification of Assets, and POS Integration. 🏆 The Outcome: With Truv’s VOIE, Revolution Mortgage cut verification costs from 8 basis points to 3 basis points per loan, saving hundreds of dollars per loan and thousands monthly. 💸📉 Truv acts as a margin-optimizer, speeding up the process and reducing costs, resulting in more affordable and enjoyable homeownership for borrowers. 🚀 Femi Ayi, EVP Operations, Revolution Mortgage “Since our partnership with Truv, we've cut our verification costs from 8 basis points per loan to 3 basis points per loan.” With Truv, Revolution Mortgage is revolutionizing industry standards, ensuring compliance, and solidifying their reputation as a trusted mortgage partner. 📈 Read more 👉 https://lnkd.in/gmFZAZpn #Fintech #Truv #CaseStudy #CustomerSuccess #Innovation #RevolutionMortgage

Ever wonder how the stability of your income differs from those in volatile sectors like ours? 🤔 I chatted with a fellow loan officer about this very topic and how our industry is working hard to secure profitability amidst the exciting complexities of the mortgage world. 💰🌐 Looking at the year 2024, wave changes are on the horizon, driven by evolving rate changes and regulatory stipulations. This isn't a world of frequent haircuts, it’s about delivering when it matters most. 💪🎯️ Innovations are abuzz in the lending sphere! Industry top players are exploring cutting-edge verification platforms like Truework, promising optimization and a streamlined borrower experience. 🚀⚙️ The best mortgage lead providers for the year are also on the table, but it's your call to decide the ace! Choose from Bankrate, BestMoney, Credit Karma, LendingTree, Money, Movoto, NerdWallet, Own Up, and Zillow. 🏦🌟 For a deeper look at these industry insights, check out our latest podcast! 🎧 Prepare to be enlightened. ✨ #MortgageIndustry #BankingBridge #LoanOfficerLife #2024Projection #InnovationInLending #Truework #MortgageLeads #StayInformed

Ever wonder how the stability of your income differs from those in volatile sectors like ours? 🤔 I chatted with a fellow loan officer about this very topic and how our industry is working hard to secure profitability amidst the exciting complexities of the mortgage world. 💰🌐 Looking at the year 2024, wave changes are on the horizon, driven by evolving rate changes and regulatory stipulations. This isn't a world of frequent haircuts, it’s about delivering when it matters most. 💪🎯️ Innovations are abuzz in the lending sphere! Industry top players are exploring cutting-edge verification platforms like Truework, promising optimization and a streamlined borrower experience. 🚀⚙️ The best mortgage lead providers for the year are also on the table, but it's your call to decide the ace! Choose from Bankrate, BestMoney, Credit Karma, LendingTree, Money, Movoto, NerdWallet, Own Up, and Zillow. 🏦🌟 For a deeper look at these industry insights, check out our latest podcast! 🎧 Prepare to be enlightened. ✨ #MortgageIndustry #BankingBridge #LoanOfficerLife #2024Projection #InnovationInLending #Truework #MortgageLeads #StayInformed

Over the past two decades the mortgage industry has evolved, transitioning from manual processes to electronic exchanges and automation. This innovation wave was prompted by factors including regulations (e.g. TRID, Dodd-Frank) and tech advancements (e.g. online shopping, streamlined digital transactions) that heavily influenced consumer behavior in the smartphone era. To learn more, check out the recap of our CEO Daniel Sogorka’s webinar where he’s joined by 3 industry pros Jason Cave (Federal Housing Finance Agency), Kevin Kauffman (Freddie Mac), and Julian Hebron (The Basis Point®) answering the question “How does real-time policy making drives mortgage innovation”. Hope you check it out, and send any questions you have my way. https://lnkd.in/dKPE5sAm   #sagent #nmn #fintech #servicing #fhfa #mortgageservicing #webinar #policymaking #housingpolicy #nationalmortgagenews #mortgage #financialservices #thebasispoint

At Optimal Blue, we’re not just about mortgage technology – we’re about optimizing your advantage so you can empower homeowners’ dreams. Bridge the gap 🤝 – we create a seamless journey for lenders and investors, by bridging the gap between primary and secondary #mortgage markets. Unlock possibilities 🔑 – with our end-to-end capital markets platform, lenders of all sizes can operate profitably and efficiently. Whether you’re a local #creditunion or nationwide investing powerhouse, we’ve got you covered. Make dreams come true 🌟 – our innovative technology, open-network approach, and data-driven insights pave the way for lenders to help borrowers to achieve their dreams of #homeownership. Optimize your advantage 🎯 – #OptimalBlue is your trusted partner, from pricing strategies to #marginprotection, and everything in between. With over 20 years of expertise, we’ve seen it all – and we’re ready to help you succeed. Learn more about what Optimal Blue can do for you. #OptimizeYourAdvantage https://lnkd.in/eXM-JPvU

Our CEO Daniel Sogorka hit the nail on the head during his conversation with Faith Schwartz at #HousingDC23: “I think we're on the verge of some massive changes in mortgage technology. And if my customers are in the lead now, imagine where they're going to be as we roll out these kinds of true paradigm shifts.” If you want a deeper dive into his fireside chat with Faith, click the link below and read the recap — plus you can watch the full discussion on demand. Check it out and hit us with your questions. https://lnkd.in/exCA-AhK #sagent #housingfinancestrategies #hfs #mortgageservicing #servicing #firesidechat #fintech #futureofservicing #blogrecap #readme #events

Target Group Transforms Effectiveness of Decision in Principle Target Group has re-imagined the role of a Decision in Principle (DiP). This will transform the mortgage application process, shortening it from up to eight weeks down to just seconds for lenders who uses Target’s recently launched Mortgage Hub system. Target has developed a way to provide accurate income, expenditure and property valuation information, at the beginning of the application process. This means that lenders can provide a DiP based on real rather than estimated information. Katie Pender, managing director at Target Group, says, “We designed our Mortgage Hub and the DiP process around the people using it. We looked at what the challenges were and then built the Mortgage Hub to provide the solutions. What we have designed will dramatically shorten the time it takes to apply for a mortgage, achieve acceptance and successfully complete. Basing a DiP on accurate information that can be gathered in moments should be transformative, saving time for brokers, lenders and the end client." https://lnkd.in/e_MRASHj Peter O'Connor Katherine Bowen Mark Gilliver Gareth Roach (Assoc CIPD) Ashley Seymour-Skinner Akin Arikawe Amy Morgan #FFNews #Fintech #FintechMagazine #FintechFinance #Paytech #PaytechMagazine #Insurtech #InsurtechMagazine #KYC #Lendtech #Regtech

Last year was not an easy one for the Fintech industry, facing a lot of challenges, spanning from the Fed rates hikes and decrease in number of mortgage applications for residential purchases to finding creative ways to access and package the embattled commercial real estate financing products. Some Fintech companies survived and even thrived. Here is a look at Forbes 2024 Fintech 50 list. #fintech #forbes #fintech50list #fed #interestrates2024 #interestrates #mortgages #mortgagesolutions #equity #commercialrealestate #investments #officespaces #retailspace #warehousespace #mixedusedevelopment #residential #affordablehomes #infrastructure #smartcities https://lnkd.in/dUCFRQbn

We are excited to announce our partnership with finova payment and mortgage services. 🤝🎉 From today, finova's members will have access to our wide range of services, from #buytolet mortgages with up to 80% LTV, 24-hour remortgage offers and more. More details can be found in the article by FF News | Fintech Finance below. #fintechnews #molofinance #mortgagenews #mortgagelender #buytolet #mortgagebrokers