Better Home & Finance is adding another $43.7 million in historical loan production through two mortgage teams in California and the Mid-Atlantic, extending a recruiting push that has brought more than $266 million in reported production to its NEO Home Loans channel in recent weeks.
The latest additions are the Daniel Estrada Team in Bakersfield, California, and Team Neilsen, which serves Virginia, Washington, D.C., and Maryland. Both bring something Better is increasingly pursuing: established purchase business and deep relationships with local real estate agents.
Estrada's team funded $23.7 million over the past 12 months, with purchase loans accounting for 77% of production. Jeffrey Neilsen, who joins as an originating branch manager, generated $20 million in 2025 volume, approximately 90% of it purchase business.
The announcement follows Better's addition of a $140 million purchase-focused team in Florida and its Nov. 5 recruitment of Josh Burrus and his $82.5 million Northern Virginia team.
Together, the four teams represent more than $266 million in reported historical production.
Recruiting Without Signing Bonuses
Better's recruiting strategy is particularly interesting given the company's ongoing effort to cut costs and improve profitability.
During its Nov. 9 earnings call, founder Vishal Garg said Better is attracting established producers without the upfront signing bonuses offered by competing lenders.
"We don't have upfronts. We don't do any of that stuff that other people do," Garg said, arguing that Better's technology allows originators to close more loans at lower operating costs.
Garg claimed Better could demonstrate substantially higher productivity for retail originators joining its platform.
The recruiting push comes as Better continues to report losses despite rising mortgage volume and pursues an aggressive restructuring program aimed at lowering operating expenses.
NEO gives Better another way to grow production without relying exclusively on its direct-to-consumer business.
Local Relationships Still Matter
Better's latest recruits also reflect a broader shift in how the tech-driven lender is approaching purchase mortgages.
"Families in Bakersfield and Northern Virginia are already starting their home search on Better. What gets them to the closing table is a local advisor who knows the agents, the builders and the neighborhood," Garg said.
That message represents a notable evolution for a company that built its brand around automating origination.
Better is now pairing its Tinman technology and online customer acquisition with experienced originators who already control valuable referral relationships.
The strategy has been developing for some time. As NMP previously examined during Better's leadership transition, the company has been moving toward a partner-led distribution model, with NEO serving as an important part of its retail expansion.
