Better Home Director Farello Resigns, Fourth Senior Exit Since August
Company Background
Better Home & Finance Holding Company (NASDAQ: BETR) is an AI-native mortgage origination platform that processes loans through its Tinman® technology and distributes through direct-to-consumer and enterprise partner channels. Revenue from continuing operations grew 28% year-over-year to $54.7 million in the second quarter of 2026, while the net loss narrowed to $30.6 million. Management has reaffirmed a target of reaching Adjusted EBITDA breakeven by the end of the third quarter of 2026, though the company has not yet achieved profitability.
The company's recent operating trajectory has been broadly positive — loan volume grew 38% year-over-year in Q2 2026 to $1.67 billion, and it carried $102.3 million in cash and equivalents as of June 30. But that financial momentum has been overshadowed by a governance rupture that began in late July and has not fully resolved.
What Was Disclosed
Michael Farello resigned from Better Home & Finance's board of directors on September 28, 2026, effective immediately. The company stated that his decision was not the result of any disagreement on any matter relating to the company's operations, policies, or practices. No successor has been announced.