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Mortgage Lender

All articles tagged with #mortgage lender

business2 years ago

Better.com CEO Vishal Garg's Stock Crash: A Spectacular Disaster

Mortgage lender Better.com experienced a significant stock crash, with shares trading at a more than 90 percent discount just hours after going public. The company, which had built its business on fast home loans during the pandemic, has seen a decline in its business as mortgage rates rose and the housing market slowed. CEO Vishal Garg's controversial behavior towards staff, including laying off employees via Zoom and making derogatory remarks, has also contributed to investor concerns. Better.com is facing an SEC investigation and lawsuits from former business partners. Despite the challenges, Garg remains optimistic about the company's future.

via The Daily Beast|
#bettercom#business#ceo-vishal-garg
business2 years ago

Better.com CEO's Zoom Firings Lead to Epic SPAC Disaster as Shares Plummet 90%

Online mortgage lender Better.com, led by CEO Vishal Garg, experienced a disastrous debut on the stock market, with its shares plummeting over 90% in a single trading session. Garg, who previously made headlines for mass-sacking employees over Zoom, had hoped for a successful public listing but instead saw investor capital vaporized. The company's CFO defended the reverse merger with Aurora Acquisition Company, stating that it secured much-needed cash to navigate the challenging mortgage market. Despite the steep decline, the CFO expressed confidence in building long-term value for shareholders.

via Fortune|
#bettercom#business#mortgage-lender
finance2 years ago

SoFi Technologies Acquires Wyndham Capital Mortgage, Expanding Fintech Reach.

SoFi Technologies has acquired Wyndham Capital Mortgage, a leading fintech mortgage lender, in an all-cash transaction. The acquisition will allow SoFi to broaden its suite of mortgage products available to members, enhance unit economics, and take ownership of an intelligent and scalable platform that has set the industry standard for a fully digital mortgage experience. The acquisition is expected to be accretive within six months and will help SoFi scale mortgage growth, create sales and operational efficiencies, and introduce a broader suite of mortgage product offerings for SoFi members.

via Yahoo Finance|
#acquisition#finance#fintech