Better Mortgage, a digital mortgage lender, has reported that it has tripled originations in 2018, in the face of higher rates and a slowing real estate market.

[caption id="attachment_9118" align="alignright" width="256"] Vishal Garg[/caption]

Loan originations jumped to $1.34 billion in 2018, compared with $450 million in 2017. Better aims to deliver lower rates, faster closing times, and a transparent, technology-driven mortgage experience. The firm lends in 27 states and Washington, D.C., and its non-commissioned loan officers originate on average more than 40 loans each month, compared to the industry standard of 4.2 loans each month, according to data from the Mortgage Bankers Association. Because loan-officers aren’t paid commissions, the cost of buying a mortgage might be reduced and consumers might be more educated about the origination process.

"Our mission is to change the way Americans buy and refinance their home and we are just getting started," said Vishal Garg, founder and CEO at Better Mortgage. "In a year when the rest of the mortgage industry contracted, we've tripled loan originations by delivering value to consumers by completely re-engineering the mortgage process, by eliminating the traditional commission structure and prioritizing customer service over sales."

Better promises pre-approvals in as little as three-minutes, on-time closings and a Better Price Guarantee.