Better Mortgage Founder and CEO Vishal Garg was recently honored by Goldman Sachs for his efforts in the housing sector.
Garg was honored by the bank at its annual Builders + Innovators Summit, a three-day long event that honors entrepreneurial gamechangers across various industries.
“A dynamic economy depends on dynamic entrepreneurs who disrupt industries and occasionally give birth to entirely new sectors,” Goldman Sachs CEO David Solomon said. “The purpose of Builders + Innovators is to support emerging leaders in their quests to innovate faster in order to grow their ideas. We are pleased to recognize Vishal Garg as one of the most intriguing entrepreneurs of 2018.”
Garg, a fintech industry titan, launched Better Mortgage in 2016, sensing that the industry needed a change.
“I started Better with the down payment I’d saved to buy my first home but wasn’t able to. Why? Because of an inefficient, antiquated mortgage process which functioned as if the internet had never been invented and caused us to lose the home to an all-cash buyer. I knew then that the entire industry needed to dramatically change,” Garg said.
The company has since grown to be one of the fastest growing homeownership companies in America, originating more than $1.8 billion in mortgages since its creation. Better Mortgage was named to HousingWire's Tech100 in 2018 and Garg was honored as a HousingWire Vanguard in 2016.
“At Better, we believe every American deserves the chance to own their own home and are on a mission to transform the mortgage experience to make that possible,” Garg said. “We consider this recognition by Goldman Sachs to be a testament to the success of our larger mission.”
Earlier this year, Better expanded its reach, making its services available to consumers in Texas. The expansion was the 14th market the company has penetrated.
“With over half a billion dollars in loans originated in our first year—more than any other fintech startup in its initial year of launch—consumers have confirmed that we are onto something extraordinary,” Garg said.