Better.com to power Finance of America’s new home equity products

NEW YORK - Finance of America Reverse LLC will expand its product offerings to include home equity lines of credit (HELOCs) and home equity loans (HELOANs) for the first time through Better.com’s TinmanⓇ AI Platform, according to a press release issued Tuesday. Better Home & Finance (NASDAQ:BETR), currently valued at approximately $780 million, has seen remarkable growth with its stock surging over 469% year-to-date, according to InvestingPro data.

Finance of America, a reverse mortgage lender that has funded over $25 billion in reverse mortgage loans in the last decade, will utilize Better.com’s technology to enter the HELOC and HELOAN market without building new internal systems. Better.com has demonstrated strong operational performance, with revenue growing 69% in the last twelve months to $130.67 million.

The partnership will provide Finance of America customers with access to a fully digital application and approval process that can facilitate closing and funding in just days. Additionally, Better.com will become Finance of America’s origination partner for reverse mortgages, including traditional HECM reverse mortgages and the HomeSafe™ product suite.

"Partnering with Better expands our suite of home equity solutions beyond reverse mortgage solutions and enables us to serve our customer base holistically," said Kristen Sieffert, President of Finance of America.

Through the TinmanⓇ AI Platform, Finance of America will be able to offer and originate HELOCs and HELOANs without hiring new teams or building internal infrastructure. The company will also implement Betsy™, a voice-based AI loan assistant for the mortgage industry.

Better Home & Finance Holding Company (NASDAQ:BETR), which has funded more than $100 billion in mortgage volume since 2016, provides mortgage offerings including GSE-conforming loans, FHA and VA loans, and jumbo mortgage loans.

Finance of America Companies Inc. (NYSE:FOA) is headquartered in Plano, Texas, while Better.com serves customers across all 50 US states and the United Kingdom. According to InvestingPro analysis, Better Home & Finance maintains a FAIR financial health score, with detailed metrics and growth projections available in the comprehensive Pro Research Report, one of 1,400+ deep-dive analyses available to subscribers.

In other recent news, Better Home & Finance Holding Company reported a notable increase in revenue for the second quarter of 2025, attributed to a 25% year-over-year growth in funded loan volume. Despite this revenue growth, the company experienced an adjusted EBITDA loss of approximately $27 million, but it maintained a strong cash position by the end of the quarter. Additionally, Better Home & Finance has initiated a $75 million at-the-market equity offering program, partnering with Cantor Fitzgerald & Co. and BTIG, LLC to sell shares of its Class A common stock. This move allows the company to offer and sell shares at prevailing market prices, with each agent receiving a 2% commission on gross sales.

In a related development, the company’s Chief Financial Officer, Kevin Ryan, announced his retirement. Ryan, who played a crucial role in managing the company’s financial functions and leading it through its public listing process, will assist in the transition while Better Home & Finance searches for his successor. Meanwhile, PennyMac Financial Services and PennyMac Mortgage Investment Trust have appointed Kevin Ryan as their new Senior Managing Director and Chief Strategy Officer, effective October 13. Ryan’s extensive experience includes his previous role as CFO at Better and over two decades at Morgan Stanley. These recent developments highlight significant shifts in leadership and strategic financial activities for both Better Home & Finance and PennyMac.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.