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Express Mortgage

Express Mortgage

When it comes to mortgages Andy Manilla does it right, with great service and integrity.

Better Mortgage raises $70 million, led by American Express

According to Better Mortgage, it plans to use the money to support its continued growth and invest in the company’s technology platform.

Since launching three years ago, Better Mortgage has grown by leaps and bounds. Last year, the company doubled its geographic footprint and originated $1.3 billion in mortgages, representing an approximate increase of 300% from the prior year.

Better’s platform works by moving the mortgage process completely online. Its customers are able to upload and eSign documents, have instant access to lending discounts and receive personalized mortgage recommendations.

The company expanded throughout 2018, adding 13 more states , and the company isn’t done there either.

Better Mortgage also announced this week that it is launching in four new states: Alaska, Kentucky, Oklahoma, and West Virginia. 

With those four additional states, Better Mortgage is now available in 30 states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Mississippi, New Jersey, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Washington, West Virginia, Wisconsin, plus Washington, D.C.

Better Mortgage raises $70M in Series C led by American Express

Better Mortgage, one of the nation's largest digital lenders, has raised $70 million in Series C funds led by American Express and the Healthcare of Ontario Pension Plan.

Existing investors Kleiner Perkins, Goldman Sachs and Pine Brook, who led the company's $15 million Series B round in 2017, also participated in the round, according to a press release. The company will use the investment to support its technology platform and continued growth, including the addition of partnership channels and to hiring employees.

"Buying a home is one of the biggest financial life events that our customers experience, but the process is often full of pain points," Lindsay Fitzgerald, managing director, Amex Ventures, said in the release. "By building a mortgage platform to be fully digital from the ground up, Better Mortgage has reduced the complexity around the home buying process."

The company has funded more than $2 billion in loans since it launched in 2016, with 7,000 customers being able to refinance.

Will standard variable rate rise for the mortgage express customers. I have been reading a lot about Halifax?

I am a little worried. My svr at the moment is 4.95% and i pay 425.00 at the moment every month.