Dive Brief:
- Online lender Better Home & Finance Holding Company said Loveen Advani — who most recently worked for the AI-powered omni-channel marketing company Zeta Global and, earlier, at Aetna and IBM — became the company’s CFO on Monday.
- Loveen succeeds Kevin Ryan, who announced in September he was leaving Better Home. In October, Ryan joined PennyMac Financial Services, a mortgage real estate investment trust, as its chief strategy officer, according to a securities filing and a PennyMac press release at the time.
- “Loveen is a seasoned strategic and operational finance leader with a strong track record of guiding companies through growth and transformation,” Vishal Garg, CEO and Founder of Better, said in a statement Monday. “He has repeatedly demonstrated the ability to align strategy, capital allocation and execution.”
Dive Insight:
Advani, 49, who was appointed by the board to the position in December, was also named to the roles of principal accounting officer and principal financial officer, according to a December securities filing by Better.
Prior to joining Better he served in multiple roles at Zeta including EVP of finance from April 2024 until his departure last month and as SVP of FP&A. Previously he also served as SVP, FP&A and investments at LivePerson, a provider of “predictable conversational” AI, and also held finance positions at the insurance and tech giants Aetna and IBM earlier in his career.
At Better he will receive an annual base salary of $450,000 and will be eligible for a target performance bonus of 100% of his salary, according to the filing.
Better last week announced it amended and renewed a $175 million credit facility, with features that reduce cash deposit requirements and expand leverage capacity and higher advance rates on certain non-GSE loans, according to a company release.
The company also reaffirmed its November guidance that monthly origination volumes are expected to exceed $1 billion by May, compared to the company’s average monthly origination volume of $400 million for the quarter ended Sept. 30.
