The mounting war of words between Better’s board of directors and its former CEO is escalating, as the former goes public in its defense to prevent Vishal Garg from regaining control. Processing Content In a company update issued publicly on Monday, a special committee of the Better Home and Finance board emphasized that the early-month […]
Better battle escalates as board seeks to block Garg return Read More »
Despite substantial investment in artificial intelligence, mortgage origination remains expensive and labor-intensive. In the first quarter of 2026, the average cost to originate a loan rose to $11,898, while lenders earned just $727, or 16 basis points, in pre-tax production profit. Why has that investment not produced a visible reduction in the cost to originate?
AI Divide in Mortgage Lending is Structural, Not Software Read More »
Start with a number that still bothers me: It costs the industry $11,898 to produce one mortgage. The average since 2008 is $7,903. So through the whole “digital mortgage” era, all those billions in software, the cost of making a loan went up 50%. We digitized the fax machine and sent borrowers the bill. If
$11,898 Cost per Loan Highlights the Staffing Problem in Mortgage Read More »