BETTER HOME & FINANCE HOLDIN Business Summary

Better Home & Finance Holding (BETR) operates an AI-native, vertically integrated homeownership platform that generates revenue primarily through transaction-based gain-on-sale margins from mortgage originations and fees from ancillary settlement services. The company’s business is structured into two primary segments: Home Finance, which leverages its proprietary "Tinman" and "Betsy" AI engines to provide automated underwriting for GSE-conforming, FHA, VA, and jumbo loans; and Better Plus, which integrates real estate brokerage, title insurance, and homeowners insurance. By utilizing a non-commissioned loan officer model and its "One-Day Mortgage" value proposition, Better seeks to eliminate traditional friction costs and interest rate premiums in the mortgage lifecycle. It competes directly with digital-first and legacy players such as Rocket Mortgage, loanDepot, and Upstart, positioning itself as a technology-centric disruptor focused on high-velocity digital processing and institutional capital partnerships. The company was founded by CEO Vishal Garg, a former Morgan Stanley analyst and co-founder of student lender MyRichUncle, who leads the firm with a focus on AI-driven operational efficiency. The current leadership team features Chief Financial Officer Loveen Advani, who joined in February 2026 from Zeta Global to oversee financial strategy and capital allocation, and Chief Operating Officer Barry Feierstein, a former McKinsey consultant with extensive experience in residential finance. Governance is provided by an experienced board chaired by Harit Talwar, the former Chairman of Consumer Business at Goldman Sachs, and includes Prabhu Narasimhan of NaMa Capital. Better’s institutional pedigree is underscored by major backing from the SoftBank Vision Fund and Activant Capital, which supported its transition from a venture-backed startup to a publicly traded entity on the Nasdaq.