General World News lays off LOs, secures $750M cash injection

HW+ vishal garg founder and CEO Vishal Garg

Digital mortgage lender is laying off 9% of its workforce ahead of a $750 million cash injection from financial backer SoftBank Group. Company officials say the moves will allow refi-heavy Better to increase its strength in a mortgage market that is increasingly becoming purchase-focused.

The layoffs were announced by the New York-based company on Tuesday.

Company sources told HousingWire that refi-focused, salaried loan officers made up the majority of the hundreds of employees who received pink slips. Better’s loan officers do not receive commissions.

Following the layoffs, the company expects to details ⇒

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