Better Home & Finance Holding Company · NASDAQ:BETR
Better Home & Finance — Better Holdco — SPAC Merger (June 2021)
24 slides from Better Home & Finance's SPAC merger presentation, Jun 15, 2021
Slide 1: Better Investor Overview June 2021
Better Investor Overview June 2021 Better
Slide 2: Important Information for Investors and Stockholders
Disclaimer Important Information for Investors and Stockholders Aurora Acquisition Corp. ("Aurora") and Better Holdco, Inc. ("Better" or the "Company") issued a press release announcing a proposed business combination on May 11, 2021, as further described in the SEC filings of Aurora on Form 8 - K o
Slide 3: Forward Looking Statements (continued)
Disclaimer Forward Looking Statements (continued) There may be other risks not presently known to us or that we presently believe are not material that could also cause actual results to differ materially. Analysis and opinions contained in this document may be based on assumptions that, if altered,
Slide 4: Making homeownership more affordable, more accessible, and just plain Better
Better We’re making homeownership more affordable, more accessible, and just plain Better for all Americans and eventually everyone else 4
Slide 5: Our goal is to be the home for every consumer's home
Our goal is to be the home for every consumer’s home Better Description Home Finance Full range of mortgage and home equity products LAUNCHED Jan 2016 Home Services Home services and improvement loans LAUNCH EXPECTED 2H 2021 Financial Network Personal, auto, student, credit cards, life & disability
Slide 6: Fastest growing homeownership enablement platform in America
We are the fastest growing homeownership enablement platform in America 1 Better Our technology - driven platform delivers the best customer experience at the lowest price 2019A $89 2020A $876 Implied Market Share 3 2019A $5 2020A $24 0.2% 0.5% 7x annual market share growth since 2018 2 Mortgage Ori
Slide 7: Homeownership market is enormous…
Homeownership market is enormous… Better $7 Trillion $11 Trillion $15+ Trillion ~4T 2 Financial Network ~2T Insurance (Title & Home) ~33tn U.S. Housing Market ~11tn 1 U.S. Mortgage Core Expansion $5T 4 Consumer Financial Network $3T 1 U.S. Home Finance $4T 2 International Home Finance $4T 3 Home Ser
Slide 8: …and yet, so broken
…and yet, so broken. Consumers deal with repetitive data requests, high fees, and a lack of certainty Better 1 Realtor.com - “How Much Are Mortgage Fees?” 2 . Realtor.com - “How Long Does It Take to Get a Mortgage?” 3 CNN Money - “500 - page Mortgage Applications are the New Normal” Trulia - “Sale F
Slide 9: A seamless, best-in-class customer experience
We provide a seamless, best - in - class customer experience Zero commissions Deflating traditional mortgage costs 100% online application Save time, money, and stress A few quick questions Where are you in your home loan journey? Automated soft credit check Customized certainty, on your own time Pr
Slide 10: Home finance lifecycle driven by Tinman platform
Home finance lifecycle Our technology platform, Tinman, was built from scratch and drives our entire ecosystem Loan Purchasers Better Real Estate Agents Better Title and Settlement Services Better Insurance Better Team Members Manual tasks to non - licensed team members Customer - facing tasks to li
Slide 11: Tinman removes human bottlenecks through automated decisioning
Tinman removes human bottlenecks from the transaction process through its automated decisioning engine TINMAN Machine - driven Process Customer Interacts with single system Operations Team Pushing tasks to process - centric humans Third Party Systems Pulling data via APIs Sales Team Pushing interact
Slide 12: Tinman automates tasks to streamline the customer journey
Tinman automates tasks to streamline the customer journey Better • Tinman breaks down specialized, human - generated tasks into simple, machine - driven tasks to improve labor liquidity and lower overall labor costs • Average funded loan now features >400 fully automated activities - as more process
Slide 13: Industry-leading productivity and labor cost advantage
Tinman enables industry - leading productivity and provides us with a massive labor cost advantage Better • Through our R&D efforts, we continue investing in Tinman to further reduce costs • Pass savings along to the customer to win market share, powering further economies of scale and efficiencies
Slide 14: Technology improves loan consultant productivity and loan quality
Our technology improves loan consultant productivity and loan quality through machine - guided decisioning 1 Jennifer Mark Better Loan Consultant Better home - grown team member Traditional Mortgage Loan Consultant 3 Top 3 originator by $ volume in 2019 1. Source: Better had more loan consultants on
Slide 15: Asset light business model with Investor Matching Engine
Our business model is asset light as a result of GSE takeout, and augmented through our Investor Matching Engine Better Government - Supported Liquidity Supports Low Rates for Consumer 1. Percent of non - Ally loan origination volume in 2020 2. Source: Urban Institute. Housing Finance at a Glance, A
Slide 16: Lower rate and better experience for our customers
We deliver a lower rate and better experience for our customers Better 1. Better Price Guarantee: Better will match any valid competitor's offer, and credit customer an extra $100. If we can't, t he $100 is the customer's to keep. 2. Better Mortgage saves refinance customers $8,200 a year on average
Slide 17: Helping families afford a better home
Better We are helping families afford a better home, in a better school district, with a better commute To: Vishal Garg From: John D. Subject: Just Wanted to Say Thanks. “This is my first experience shopping for a house. I used other online mortgage companies, but found that your company's portal wa
Slide 18: We are just getting started
96.1% We are just getting started 1 Better Implied Market Share 3 2019A $5 2020A $24 2021E $57 2022E $102 0.2% 0.5% 1.4% 3.2% 2023E $181 5.6% 7x annual market share growth since 2018 2 Mortgage Originations ($ billions) 18 190.7% 2019A $1,165 2020A $9,140 2021E $33,976 2022E $82,371 2023E $158,486 1
Slide 19: Our growth flywheel compounds each day
Growth Product Offerings Customer Experience Organic Traffic Data Our growth flywheel compounds each day that we make homeownership more affordable and accessible for customers
Slide 20: $15+ trillion annual addressable spend
Better U.S. Home Finance | $3.0 trillion 1 Home for Your Home On your home screen International Home Finance | $3.6 trillion 2 Home Rental | $1.7 trillion 3 Home Improvement| $763 billion 4 Life Insurance | $1.7 trillion 7 Auto Insurance | $880 billion 8 Home and Personal Liability Insurance | $764
Slide 21: Appendix
Better Appendix 21
Slide 22: Building the leading integrated homeownership platform: Better Plus
Better Building the leading integrated homeownership platform x We are seeking to aggressively grow our non - mortgage revenue by blitz - scaling our Better Plus businesses x We are just getting started in these businesses today, and are well positioned to capture market share because of our strong
Slide 23: Better Real Estate business comparison
Better Better Real Estate is where Better Mortgage was in 2017, in an equally broken, commission - focused industry x There were approx. 7.5M real estate transactions in 2020 in the U.S. 1 x Compass has ~4% market share, Redfin has 1% - further demonstrating the huge TAM and massive fragmentation x
Slide 24: Thank You
Thank You Better