Key Takeaways
- • Better Home & Finance appoints Daniel Lewis, a board member with 30+ years of operating and governance experience, as interim CEO effective immediately, replacing founder Vishal Garg.
- • Garg remains on Better's board as the company's single largest voting shareholder and will work with Lewis on the leadership transition; the company is executing cost-reduction plans exceeding $45 million.
- • Better has facilitated over $110 billion in loan volume across more than 600,000 customers over the past decade and operates Tinman and Betsy, proprietary AI-powered mortgage automation platforms.
- • Lewis brings institutional credibility from prior roles as CEO of Ascend Fundraising Solutions (2018–2023), senior positions at Citigroup, and founder of Orange Capital LLC.
- • Garg stated the company is at an "important inflection point" near profitability and positioned for growth despite challenging mortgage market conditions driven by elevated interest rates.
Summary
Better Home & Finance Holding Co. announced on August 3, 2026, that Daniel Lewis, an experienced board member, has assumed the role of interim CEO, effective immediately, replacing founder Vishal Garg. Lewis, who brings more than 30 years of operating, investment, and governance experience, will manage the organization, execute the board-approved operating plan, and set strategic direction. His prior leadership roles include serving as CEO of Ascend Fundraising Solutions, a Toronto-based software company, from 2018 to 2023, as well as previous positions with Citigroup and as founder of Orange Capital LLC.
Garg will retain his position on Better's board and remains the company's single largest voting shareholder by a significant margin. He will collaborate with Lewis to ensure an orderly leadership transition. In a statement, Harit Talwar, chairman of the board, highlighted Better's achievements under Garg's leadership, noting the development of Tinman and Betsy, proprietary AI platforms that have introduced automation to mortgage processes that had remained largely unchanged for decades.
According to company disclosures, Better is executing cost-reduction plans exceeding $45 million and is approaching profitability. Over the past decade, the company has facilitated more than $110 billion in loan volume while serving more than 600,000 customers for home purchases and refinances. Garg characterized the current moment as an "important inflection point" and stated that the timing is appropriate for new leadership. He emphasized that despite a challenging interest rate environment, Better is experiencing substantial growth and remains positioned as a leader in AI adoption within the mortgage industry.
The leadership transition represents a strategic shift aimed at stabilizing operations and accelerating execution of the company's roadmap during a period of industry transition toward automation and artificial intelligence-driven lending.
Garg will retain his position on Better's board and remains the company's single largest voting shareholder by a significant margin. He will collaborate with Lewis to ensure an orderly leadership transition. In a statement, Harit Talwar, chairman of the board, highlighted Better's achievements under Garg's leadership, noting the development of Tinman and Betsy, proprietary AI platforms that have introduced automation to mortgage processes that had remained largely unchanged for decades.
According to company disclosures, Better is executing cost-reduction plans exceeding $45 million and is approaching profitability. Over the past decade, the company has facilitated more than $110 billion in loan volume while serving more than 600,000 customers for home purchases and refinances. Garg characterized the current moment as an "important inflection point" and stated that the timing is appropriate for new leadership. He emphasized that despite a challenging interest rate environment, Better is experiencing substantial growth and remains positioned as a leader in AI adoption within the mortgage industry.
The leadership transition represents a strategic shift aimed at stabilizing operations and accelerating execution of the company's roadmap during a period of industry transition toward automation and artificial intelligence-driven lending.
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