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Better Home and Finance flags larger Q3 adjusted EBITDA loss
The digital lender expects origination volume between $1.375 billion and $1.525 billion, citing a muted refinancing environment and uncertain timing for partner launches.
Better Home and Finance Holding Co. expects a tougher third quarter as it transitions to an enterprise-focused strategy under interim CEO Daniel Lewis, targeting growth through enterprise partners including Tinman and HELOC distribution, according to HousingWire.
The company guided to a $15 million to $18 million adjusted EBITDA loss in Q3 2026, versus a $14 million adjusted EBITDA loss reported for Q2. It also expects loan origination volume of $1.375 billion to $1.525 billion, down from $1.67 billion in the second quarter.
Lewis said the guidance reflects a muted refinancing environment and uncertain timing around several partnership launches, and he also said the company now expects to miss its previously guided goal of reaching adjusted EBITDA break-even by September.
HousingWire reports that the CFO, Loveen Advani, pointed to a more difficult mortgage-rate backdrop as the quarter progressed, along with industrywide softness in mortgage application activity, and Better said it is planning for an elevated rate and refinance environment beyond a short-term blip.