Proxy advisers split over the founder’s campaign to remove five directors as Better tries to preserve his AI strategy without restoring his control — and without the executive hired to lead Tinman’s expansion
The proxy adviser says Garg has not made the case for removing five directors, while Better’s interim CEO outlines a narrower strategy built around wholesale, home equity, and repeatable partnerships
Smith will also oversee PLACE’s mortgage and financial services division
Better may reuse bitcoin pledged by mortgage borrowers, while competing loan structures expose customers to price-driven liquidation
Former CEO targets zero monthly cash burn through higher mortgage volume, AI-driven operating changes, and $2 million in monthly savings
Directors say several heavily promoted partnerships generated less than $50,000 each, raising questions about Better’s enterprise strategy and planned wholesale launch
The lender is using a specialized crypto product to bring Coinbase customers into its broader mortgage, refinance, and HELOC funnel
The mortgage lender portrayed its founder as unfit to lead, but Garg says it offered him a lucrative advisory role three days after firing him
Directors point to early operating progress and Better’s planned wholesale launch as evidence that the lender should continue without its founder in management
The shareholder rights plan adds a 15% ownership trigger while the former CEO solicits shareholder consent to remove five of Better’s eight directors