Better appoints Orange Capital founder Daniel Lewis to board of directors

Daniel Lewis, founder and managing partner of hedge fund Orange Capital, has joined the board of Better Home & Finance Holding Co., replacing outgoing director David Barse, the company announced this week. The changes took effect July 27.

Lewis brings more than 30 years of investment and operating experience, including early-career roles at Citigroup before he launched New York-based Orange Capital in 2005. He remains as the company’s CEO and is described as a significant Better shareholder.

“Daniel has spent his career helping companies sharpen their strategy, improve capital allocation, and create long-term shareholder value,” Vishal Garg, founder and CEO of Better, said in a statement. Garg added that as Better “continues its transformation into an AI-powered mortgage platform,” Lewis’ experience in capital markets and regulated industries will support the company’s next phase of growth.

Lewis said Better is using AI and automation to “redefine” the mortgage experience by making homeownership more efficient, transparent and affordable. He pointed to the firm’s “disciplined” transformation, citing its technology build-out alongside operational changes aimed at profitable growth.

Board Chair Harit Talwar said Lewis’s background in governance, capital allocation and operational execution will support Better as it works toward its stated 2026 objectives.

Barse stepped down from the board on July 27 to pursue new opportunities, Better said. The company noted that his departure was not due to any disagreement over operations, policies or practices.

Why this matters for lenders and investors

The board refresh comes as Better is trying to reposition itself as an AI-native mortgage and home equity platform after a volatile period that included rapid pandemic-era growth, layoffs and a challenged Special Purpose Acquisition Company (SPAC) listing.

The company said it has funded more than $110 billion in loan volume since inception and now emphasizes its Tinman AI platform and Betsy, an AI loan agent that provides status updates and borrower support around the clock.

Adding a significant shareholder and investor such as Lewis signals that Better’s leadership is focused on capital allocation, cost structure and governance at a time when mortgage originators remain under pressure from elevated rates, thinner margins, and more intensive regulatory scrutiny of AI and automation.

For originators and fintech executives, the move underscores how digital lenders are pairing technology bets with tighter financial oversight as they push toward sustainable profitability.

Better currently offers agency, government, jumbo, non-QM and home equity products across all 50 states, according to the company. The effectiveness of its AI-driven fulfillment model and the discipline of its board and management will be key variables for investors evaluating digital mortgage platforms in the next rate cycle.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.