Tag Archive for: better mortgage

A Crashing Mortgage Industry, Led By Better Mortgage; Uh Oh…

/in ,
Better Mortgage dominated the refi market for years all the way through COVID by pretty much giving away loans in order to capture market share – like so many tech firms do. And … it didn’t work. At all. Investors like SoftBank and Goldman Sachs originally fell for Better’s story (tech and model made it the “Ferrari” of mortgage lending) investing $1.5 billion. But, Better lost well over $1 billion in 2021 and 2022 (when times were still good) and almost $90 million in Q1 of this year. And … it didn’t work. At all.Read More

Why We’re Seeing Fraud Claims Now & Will See A Lot More

/in ,
I knew and worked with a bunch of hard money lenders (who loaned money based strictly on equity) prior to the 2008 meltdown. Even though they were a bit cocky with their success and they lived like rockstars, they were all nice and honest guys for the most part. They solicited pools of funds from friends, family members, and outside investors – and then loaned out that money to homeowners and homebuyers who could not qualify for better financing.Read More

Watching A Company Implode; Ego, Hubris, INABILITY TO LISTEN OR ADJUST

/in ,
“As if things couldn’t get more ridiculous at the online mortgage lender Better Mortgage, where 900 people were laid off over a Zoom call this past December, the company reportedly […]Read More

For Better or Worse; When Better’s Not Better (It’s All About Training)

/in ,
My wife Heejin loves to tell people that she and I would have never been hired by our own company because we don’t come close to meeting the hiring standards. […]Read More