At a Glance

  • Online lender Better Home & Finance Holding Company said thatLoveen Advani— who previously worked at AI-driven omnichannel marketing company Zeta Global and, earlier, at Aetna and IBM — became the company's chief financial officer on Monday.
  • According to securities filings and a press release PennyMac issued at the time, Loveen succeeds Kevin Ryan, who announced in September he would leave Better Home and joined mortgage real estate investment trust PennyMac Financial Services as chief strategy officer in October.
  • "Loveen is a seasoned strategic and operational finance leader with a strong track record of steering companies through growth and transformation," Better CEO and founder Vishal Garg said in a statement Monday. "He has repeatedly demonstrated the ability to combine strategy, capital allocation, and execution."

Deeper Dive

According to securities filings Better submitted in December,Advani, 49, was appointed by the board in Decemberand was also designated to serve as principal accounting officer and CFO.

Before joining Better, he held various roles at Zeta, including executive vice president of finance from April 2024 until his departure last month, and previously served as senior vice president of FP&A. Earlier, he was senior vice president of FP&A and investments at "conversational AI" provider LivePerson, and earlier in his career held finance positions at insurance and tech giants Aetna and IBM.

According to the filing, he will receive an annual base salary of $450,000 at Better, with eligibility for a target performance bonus equal to 100% of his salary.

Better announced last week that it had amended andrenewed a $175 million credit facilitywith terms that lower cash deposit requirements, expand leverage capacity, and increase advance rates on certain non-GSE loans, according to a company press release.

The company also reaffirmed its November guidance that it expects monthly origination volume to exceed $1 billion by May, compared with an average monthly origination volume of $400 million in the quarter ended September 30.