Better.com

The lender, which crossed the $1 billion origination mark for the second consecutive quarter, is bullish on several new mortgage partnerships.

The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale.

The largely direct-to-consumer lender will also offer reverse mortgage loans in the latest dealing between publicly traded industry players.

The retail business in its hiring announcement touted its technology offerings and transparent compensation structure in attracting the originators.

The company, which is projecting adjusted EBITDA profit next fall, saw its Neo Home Loans arm more than double its production from the first quarter.

Notable changes in executive compensation at public IMBs heavily relied on stock awards received that year.

The company is positioning its Tinman platform as a serious industry competitor and suggests it's eying product costs of around $1,500 per loan.

Small-business owners will be given the option to tap into anywhere from $50,000 to $500,000 in financing.

The re-engineering of the convertible note arrangement between the two parties includes a one-time cash payment of $110 million by Better.

The lender says its technology will supercharge scale, preventing a potential hiring and firing spree which doomed it after the recent refinance boom.

Better touted the company's efficient operations, including an artificial intelligence voice assistant handling all of its inbound customer calls.

Better's voice assistant can help customers get answers to mortgage application inquiries, call them back if they abandon an application and ask them about the weather.

The publicly traded firm is also shoring up its sluggish stock and ramping up marketing efforts.

The digital lender increased its marketing spend in the first quarter of 2024, with the ultimate goal of "Uber-izing the loan officer."

The digital lender also agreed with a former executive to drop her lawsuit accusing the company of misleading investors.

The digital lender disclosed a prolonged low stock price could have forced it to redeem a $528 million convertible note from sponsor SoftBank.

The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.

The lender has shed over $1 billion in annualized expenses and said it retains enough capital to sustain operations for the next several years.

The firm says the product can save companies in excess of 30% of their existing cost structure.

The digital lender's product comes amid soaring expenses for homeowner's coverage.