Holding company Better Home & Finance hired Chad Smith as president and COO of its mortgage business, with former president Kevin Ryan now serving as CFO.
Smith, previously CEO of Mission Loans, brings experience from Caliber Home Loans. Better and Mission have different loan officer and branch numbers according to NMLS data.
Smith's appointment came with a lucrative compensation package, including a $1 million base salary and performance bonuses. Better's stock price closed at $0.43, showing growth after going public in 2023.
Better's financials have improved post-IPO, with a significant decrease in net losses. Founder Vishal Garg highlighted the company's expansion plans, focusing on hiring experienced industry professionals for its platform.
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