"The lender grew Q1 2026 loan volume by 89% year over year to approximately $1.64 billion, with half of originations flowing through its Tinman AI platform. By product, refinance volume reached $854 million in Q1 (52% share; +542% year over year), compared to $588 million for purchase loans (36%; +2% year over year) and $203 million for HELOCs (12%; +30% year over year)."
"CEO and founder Vishal Garg said the company entered 2026 with strong momentum, but amid the prolonged conflict in the Middle East, mortgage rates for consumers on the company's platform rose from 5.75% to well above 6.5% over the past few weeks. This is causing consumers to get stuck in the middle of the funnel, hesitating to lock in at a higher rate."
"HELOCs carry lower loan balances than refinances, but they generate higher gain-on-sale margins, Garg said. Gain-on-sale margins for HELOCs average 6% to 7%, compared to 2.5% for direct-to-consumer loans and 3.5% for originations through partner NEO Home Loans."
Better Home & Finance Holding Co. reported a $70 million net loss in Q1 2026, up 39% from $51 million in Q1 2025, though adjusted EBITDA losses improved to $19 million from $36 million. Loan volume surged 89% year-over-year to $1.64 billion, with half flowing through the Tinman AI platform. Refinance volume dominated at $854 million (52% share, +542% YoY), followed by purchase loans at $588 million (36%, +2% YoY) and HELOCs at $203 million (12%, +30% YoY). Rising mortgage rates above 6.5% caused consumer hesitation, prompting a shift toward higher-margin HELOCs. Q2 2026 guidance projects loan volume of $1.575-$1.725 billion and net revenue of $53-$56 million, reflecting macroeconomic headwinds.
Read at www.housingwire.com
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