$13.850
-0.702 (-5.07%)At close
BETR News
BETR Events
Better Mortgage and Coinbase Launch Conforming Mortgage Product
Better Mortgage (BETR) and Coinbase (COIN) announced general availability for Better's token-backed, conforming mortgage product. These mortgages will be originated and serviced by Better, powered by Coinbase, and designed in accordance with guidelines from Fannie Mae (FNMA). As part of this offering, if approved for a loan by Better, Coinbase One members will be eligible for a rebate equal to 1% of the mortgage value, up to a maximum of $10,000.
Better Home & Finance Appoints Daniel Lewis as Interim CEO
Better Home & Finance Holding announced that the Special Committee of the Board of Directors provided an update on the Company's leadership and operating progress. The Special Committee said: "The decision to appoint Daniel Lewis as Interim Chief Executive Officer, transition away from founder-led executive leadership and conduct a search for a permanent CEO was supported by every director other than Better's founder and former CEO, Vishal Garg. It reflected the Board's collective judgment, following careful deliberation, as to what was in the best interests of Better and its shareholders."
Better Home & Finance Adopts Shareholder Rights Plan to Protect Shareholders
Better Home & Finance Holding announced that the Special Committee of its Board of Directors has approved the adoption of a limited-duration shareholder rights plan to protect the best interests of Better shareholders. The Rights Plan is effective immediately and will expire at the Company's 2027 Annual Meeting of Stockholders, unless earlier redeemed, exchanged or terminated by the Board in accordance with its terms. In connection with the Rights Plan, the Special Committee has declared a distribution of one Class A Right for each share of Class A Common Stock, one Class B Right for each share of Class B Common Stock, and one Class C Right for each share of Class C Common Stock. The record date for the Rights distribution is August 31, 2026. The Special Committee adopted the Rights Plan to safeguard the interests of all Better shareholders. Vishal Garg, the Company's former CEO, is acting together with an undisclosed group of investors in an effort to gain abrupt control of Better without paying a control premium and without properly informing public shareholders of the nature and extent of his plans.
Better Reports Q2 Revenue of $54.7M, Exceeds Expectations
Reports Q2 revenue $54.7M, consensus $52.85M. "Better's road to excellence has never been clearer. The more I see of this business, the more convinced I am that Better has the products, technology, and distribution capabilities to define the next era of home finance. We're focused on three priorities: expanding our reach through enterprise and wholesale partners, deepening automation to improve operating efficiency, and aggressively scaling our HELOC product, where demand has already exceeded our expectations," said Daniel Lewis, Interim Chief Executive Officer of Better. "Despite a muted near-term macro environment and the natural lead times associated with launching new partnerships, our extensive pipeline across enterprise platforms and independent mortgage brokers shows that we're only scratching the surface of what's possible. With our differentiated HELOC product set expanding beyond direct-to-consumer later this year, our growth will become less dependent on the macro environment and increasingly driven by our execution."
Sees Q3 Adjusted EBITDA of $18M to $15M
Sees Q3 adjusted EBITDA ($18M)-($15M).
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