Invented and commercialized the Income Sharing Agreement (ISA) for students. Launched platform in 2000. Built into 4th largest private student lender in America using pioneering...more academically underwritten student loan model. Took public (NASD IPO). Launched Preprime student loans, underwritten solely on student merit and academic criteria using MRU Score (poor, smart, hungry :-). Launched price war on federal student loans in 2006 which lowered costs for student loans for all Americans by 1%.
Founder · Had a terrible mortgage experience with a major bank, researched the process, figured out the loan officer who was calling me incessantly was… · More being paid over $10,000 in commissions to compile a pdf of data that was available about me online. Decided to do something about it. Sat in a paper based mortgage bank for months, learned the process, came up with the first wireframes for an instant mortgage on your phone while you are in the house you want to buy. And now it is. Check it out on better.com
As a borrower looking to refinance or purchase a home, you can expect:
Competitive rates quoted in just 3 seconds
Initial approval in 3 minutes
Rate lock to funding in 26 days (about half the industry average)
Since i was a sophomore at stuyvesant high school i have been arbitraging and resolving information inefficiencies in financial markets on behalf of consumers ---- to make access to credit and capital fairer, easier, and cheaper. My passion is resolving intergenerational dependency in my lifetime.
1994, created, tested and commercialized algorithm for prediction of earnings surprises and used it to develop scores which optimized trading of high volatility growth companies with deep market information asymmetries.
2000, Invented the Income Sharing Agreement at MyRichUncle
2005, took MyRichUncle public on NASDAQ
2006, launched price war on federal student loans lowering cost by 1% annually on over a trillion dollars of originations to date
2006-2008, launched first (and only to date) academically underwritten student loan product and built MyRichUncle to Top 5 lender
2009-2013, Created first social media derived distressed Asset Backed Securities trading strategy (Phoenix).Grew Phoenix business to $6.5 BB AUM
2014, Launched Future Finance , Europe's first private student lender
2014, Launched Climb, invented School Guaranteed Career Education loan
2015, Launched Better, reimagining home ownership for all Americans. Built Better into America's fastest growing home finance company