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Better.com forecasts another rough quarter

HW+ vishal garg
Vishal Garg, founder and CEO, Better.com

Better.com is struggling to deal with the waning influence of refis in the mortgage market, with preliminary results published by their SPAC partner revealing that the digital lender expects a net loss between $85 million and $100 million in the third quarter. And the forecast looks even worse for the fourth quarter, documents show.

According to an S-4 filed by Aurora Acquisition Corp. with the Securities and Exchange Commission last week, the digital lender expects further declines in the fourth quarter, that will likely “exceed third quarter losses.”

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