Former CEO Vishal Garg's latest step toward taking back the company he founded includes a 90-day growth plan for Better Home & Finance, which targets $2 billion in quarterly volume.

Garg has been battling with Better's current leadership team and interim CEO Daniel Lewis for the past month, and recently received approval from the Securities and Exchange Commission to begin soliciting shareholder support for his comeback plan, which the company has repeatedly rejected. 

In addition to a 25% increase in production, the scheme aims for monthly revenue growth of $7 million and a reduction of cash burn from about $4 million to $0. Garg intends to achieve this through four key actions: launching a new home equity line of credit product, closing five major partners, doubling loan officer talk time, and improving Better's direct-to-consumer lock-to-fund rate, according to a Thursday press release.

"Over the last two and a half years in a market environment where all other mortgage companies have declined, we have grown revenue 2.5x while keeping operating expenses basically flat," Garg said in the release. "The next step is to build on that operating discipline, improving conversion, expanding HELOCs, deploying AI where it drives real value and working harder for shareholders."

The $2 billion in quarterly volume is Better's projected break-even point, while the revenue generated through the initiatives would be done at a 35% contribution margin, including roughly $2.25 million in additional monthly contribution margin, according to the release.

The new HELOC would be launched through Better's Tinman technology platform and is part of an integration with Credit Karma. The five companies Garg plans to close with are currently in Better's pipeline, but have been allegedly stalled by the new management team's talk of a standardized TinmanGo portal across all partners.

"Step one is continuing to build out the AI infrastructure and deploy Tinman to the five major partners I was in the process of closing," Garg said. "Step two is making sure our people focus on the work AI cannot do: speaking with customers, processing loans faster and leveraging AI to underwrite more efficiently."

Garg wants to increase talk time from 2.1 hours per day to the industry average of 4 hours per day through artificial intelligence call routing and workforce management, with the goal of improving conversion by at least 50%. He also aims to improve the direct-to-consumer lock-to-fund rate from about 45% to 60% through incentives and AI-led consumer communications during delays.

The plan targets cost savings as well. Garg seeks to achieve this through aligning commissions on AI-assisted customer conversions, implementing instant counteroffers and moving portions of legal work and litigation support to AI-powered and AI-assisted teams, which will save a combined $2 million per month, he said.

"Mr. Garg's latest press release is another example of his longstanding pattern of making grandiose promises that lack a credible foundation in the company's operational realities," Better's special committee of the board of directors said in response. "Mr. Garg led Better for more than a decade and had every opportunity to implement a plan to improve its performance and stock price. His latest plan is not only conspicuously late, it is also utterly unworkable."

The committee also said Garg promised $1 billion in monthly loan volume by May 2026, which he missed "by a wide margin."