Better Home & Finance Holding Co. is expanding its purchase lending presence in Northeast Florida, adding a nine-person Jacksonville team with more than $140 million in annual origination volume through NEO Home Loans.
NEO operates as Better's distributed retail channel under the NEO Home Loans powered by Better brand. The two joined forces in 2024, combining NEO's network of local mortgage advisors and referral relationships with Better's Tinman technology platform, lead generation, and lending infrastructure.
The latest addition, led by veteran originator Daniel Halvorsen, brings a business heavily concentrated in home purchases, with 90% of its trailing 12-month volume coming from purchase transactions. The team helped more than 350 families finance homes during that period, according to Better's Oct. 29 announcement.
Halvorsen has more than 15 years of industry experience and has personally funded more than $1 billion in career loan volume. His team includes mortgage advisors, production support, and marketing personnel serving Northeast Florida.
“Purchase business is built on local relationships, and the Halvorsen Team has spent years earning them across Northeast Florida,” said Vishal Garg, Better's founder and head of product and innovation.
Building Production Through NEO
Better's relationship with NEO Home Loans offers an established distribution channel for its Tinman technology platform, pairing local mortgage advisors with centralized lending infrastructure and customer acquisition capabilities.
In January, the company reported that NEO's annualized production run rate had increased from $1.5 billion to $2.6 billion by the end of 2025. The expansion included 32 additional teams representing approximately $1.1 billion in production.
Better also reported significant operating improvements following NEO's adoption of Tinman, including a 91% increase in loans funded per U.S. loan officer, a 23% reduction in sales cost per funded loan, and a 29% reduction in operations cost per funded loan.
Growth Alongside A Restructuring
The Florida expansion follows another round of cost reductions under Better 2.0, the company's restructuring and operational improvement initiative.
In its Oct. 27 management scorecard, Better reported completing actions expected to generate $22.9 million in annualized savings, including $5.2 million from staffing efficiencies in sales and operations and $1.4 million from reduced third-party vendor spending during the latest reporting week.
The company is targeting approximately $64.2 million in total annualized savings once its planned initiatives are implemented.
At the same time, Better is expanding its wholesale business. The company reported signing five additional mortgage brokerages to its platform, bringing the total to 38.
Better's board disclosed earlier this year that several previously promoted enterprise partnerships had generated less than $50,000 apiece. The company subsequently identified NEO, wholesale lending, and other distribution partnerships among its growth priorities.
A Bigger Footprint In Northeast Florida
For NEO, the Halvorsen addition strengthens its presence in Jacksonville and the surrounding Northeast Florida market, where purchase transactions depend heavily on relationships among lenders, real estate professionals, and homebuilders.
Halvorsen said the move would allow his team to build on its existing business while gaining access to NEO's operational and technology resources.
Ryan Grant, president of NEO Home Loans, said the team's established relationships with agents and builders were central to its appeal.
For competing lenders and brokerage owners in Northeast Florida, the expansion adds another national platform recruiting established purchase producers and offering technology, lead generation, and operational support.
For Better, it represents another step in a growth strategy that increasingly pairs its automated lending infrastructure with the local relationships that drive purchase originations.
