The leading mortgage lender, Better, recently secured a major capital deal. This transaction will provide Better with $565 million of additional funds, in order to maintain the company’s stability during the current market conditions.
The first quarter of 2023 has been particularly difficult for Better, with the company recording a loss of $89.9 million. This news is especially concerning given this is the first time a loss has been reported since the company’s inception. As a result, the capital deal is essential to secure the company’s financial future, allowing them to remain competitive.
Key Elements of the Summary:
• Better secured a sizable capital deal
• The deal is expected to provide Better with an additional $565 million
• The company reported a loss of $89.9 million in the first quarter of 2023
• This is the first time the company has reported a loss since it was founded
• The capital deal is necessary to secure the company’s future
You can read this full article at: https://www.housingwire.com/articles/better-closes-merger-with-spac-aurora-unlocks-565m-in-fresh-capital/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.