Better Reaches Financial Milestone, Expands Broker Network
The lender has hit $22.9 million in savings as it expands its mortgage platform to 38 brokerages.
Updated on Oct. 28, 2026 in Residential
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Better has reached $22.9 million in annualized savings as part of its ongoing push to achieve adjusted EBITDA breakeven. The mortgage lender also expanded its wholesale platform to 38 total brokerages and appointed a new independent director to its board.
Why it matters
These cost-cutting efforts are part of a broader strategy to stabilize the company's financial position. For homeowners and prospective borrowers, the company's operational shifts and expansion into new wholesale partnerships could influence the availability and range of lending products accessible through these partners.
Better has completed $22.9 million in annualized savings toward a $64.2 million goal. Additionally, the lender has repurchased 911,725 shares, representing 6.9% of outstanding Class A shares, and currently supports 38 mortgage brokerages on its wholesale platform.
The players
Better
A digital mortgage lender that utilizes artificial intelligence and wholesale brokerage partnerships to originate home loans.
Linda Yaccarino
A newly appointed independent director on the board of Better.
The details
The firm is driving efficiency by expanding its artificial intelligence platform, Tinman AI, to streamline internal operations and reduce overhead. Concurrently, Better is restructuring its board and leadership roles, including the appointment of a new independent director. These measures are designed to reduce operating expenses and move the company toward a sustainable adjusted EBITDA breakeven point.
Timeline
Oct. 15, 2026: Linda Yaccarino joined the board as an independent director.
Week ending Oct. 26, 2026: The company repurchased 174,007 shares of stock.
Nov. 9, 2026: Better is expected to announce its third-quarter earnings.
The Home Front
The firm is working to align its operational costs with current market realities in the mortgage lending sector. This move follows a period of industry-wide focus on sustainable profitability among digital-first mortgage originators.
Borrowers currently working with or considering brokerages on the Better platform should monitor for changes in loan availability or service offerings as the company streamlines its operations. Check your lender's official website or recent disclosures to see if these shifts affect your active mortgage application.
The takeaway
Better is prioritizing lean operations and investor stability as it pursues a $64.2 million annualized savings target. Keep an eye on your specific mortgage brokerage's service agreements, as changes in wholesale partnerships can influence the loan products available to your household.
What happens next
The company plans to release a management scorecard every Tuesday and expects to report third-quarter earnings on Nov. 9, 2026.
Further reading
For more on changes impacting home lending, see our Residential coverage.
Source note: This article includes information reported by HousingWire.
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