New York, New York
Through its full-stack mortgage origination, underwriting, and capital markets platform, Better is transforming the way homebuyers and financial institutions purchase mortgages from the ground up.
For homeowners , the process of securing a mortgage is time consuming, frustrating, and expensive. Meanwhile, financial institutions like banks and credit unions mustpurchase large quantities of mortgages to support their retail banking deposit obligations. These transactions are currently brokered manually without much data, digitization, or scale. Furthermore, many financial institutions – especially those without a significant existing brick & mortar presence such as digital banks and fintech companies – want to originate mortgages for their customers, but the cost of doing so by traditional means is prohibitively expensive.
The friction that exists across the mortgage value chain comes as a result of an industry that has remained incredibly manual for decades. Better is re-architecting the mortgage process completely, with a tech-first digital platform that breaks down data silos across legacy incumbent systems and utilizes machine learning and automation to provide an incredible user experience.
Homeowners using Better can get approved for a mortgage 3x faster, and save up to 50% on fees throughout the process. Financial institutions can buy mortgages in the secondary market using Better’s digital capital markets platform – the first of its kind. Banks and fintech companies can use Better’s private label service to offer an incredible mortgage experience to their customers, without the overhead of an in-house mortgage business.