Better Home and Finance Holding Co. launched its wholesale HELOC and CES platform powered by Tinman AI. The platform supports both Home Equity Line of Credit (HELOC) and Closed End Second (CES) liens under one streamlined application flow giving originators flexibility to price out variable and fixed rate loans in minutes ranging in value from $50,000 to $500,000.
Better has originated more than $1 billion in HELOCs and CES liens directly to consumers and over $110 billion in mortgages through its direct to consumer, retail, and private label partnerships to date. Lenders have demonstrated that hundreds of billions of originations are achievable through broker channels, with over $300 billion originated in purchase mortgages by mortgage brokers last year. Better leaders say the goal is to bring that type of scale, pricing, and product flexibility to the HELOC and CES market for mortgage brokers.
Through the launch of the wholesale platform, Better will reach a wider group of originators allowing consumers to tap equity in their homes for home improvement costs or to consolidate expensive credit card debt and manage life’s expenses with lower monthly payments. Mortgage brokers will also be able to offer their customers debt-payoff, no-fee pricing and discounted rates with paid points. In addition, they’ll be able to offer 12 & 24-month bank statement approval options for small-business owners across a variety of investor products and pricing — without having to switch from one lender to another.
“Better’s Wholesale HELOC & CES Platform offers competitively low rates and zero origination fees. Unlike some platforms that deliver limited pull through, Tinman AI is powered to hand-hold, process, and underwrite more challenging customer files too; allowing for greater customer satisfaction and higher broker earnings,” Better Home and Finance Holding Co. Head of Business Development Patrick Kandianis said in a release. “This isn’t a red light-green light personal loan process with a property address and a blockchain title policy attached to it. It’s algorithmic machine learning driven to match borrowers across a wide variety of investors coupled with an AI engine that knows when to bring the human into the flow to help customers. Partner brokers of all types and sizes nationwide can access our new wholesale platform and complete a fast, digital pre-application in just minutes.”
As a part of this offering, wholesale originators can share a link with new customers to set up an online account and complete tasks to lock a rate, finish an application, and One Day HELOC eligible customers can close in as little as one day with funding taking place in as little as five days. Better's product experience allows brokers and their customers to interact in the Tinman AI platform with Better Mortgage processors and underwriters who provide end-to-end support for the entire origination process.
“We’re excited to offer Better’s Wholesale HELOCs & CES and provide our clients more options and a greater chance of approval using their unique Tinman digital interface combined with an actual underwrite,” Saxton Mortgage CEO Trent Ford, a leading San Diego based lender, said. “It’s a very comprehensive approach that we believe will be successful.”
Better Home and Finance Holding Co. CEO and founder Vishal Garg noted the unveiling of this product is significant for their business.
“The launch of Better’s Wholesale HELOC and CES Platform marks a major expansion for our mortgage business. In 2024 alone, U.S. lenders originated an estimated $201 billion in HELOC volume; a very small percentage of that volume flowed through an AI-powered wholesale channel,” Garg said. “Our technology delivers transparency and automation across the mortgage ecosystem, and this move into wholesale is the next chapter of our mission to make home financing better for every consumer, regardless of channel or interface. We’re starting strong, with 10 new mortgage broker partners who have collectively originated hundreds of millions for other incumbent players. As our broker partners experience higher approval rates and AI-powered underwriting, we’re excited to grow this home equity product set even further.”