loanDepot's closing price for its stock was less than $1.00 per share over a consecutive 30 trading-day period.

Better is seeking a ruling requiring Garg to pause his activity and file required disclosures with the SEC.

"We have retained a dedicated team of experienced advisors to assist us with this matter, allowing our leadership team and employees to remain focused on our key operational objectives," Daniel Lewis, interim CEO of Better Home & Finance, wrote to employees amid a battle for leadership of the company.

Cost-cutting measures helped reduce operating expenses by 24.9% from the first to the second quarter of this year.

“It is time for Better to move forward with new leadership," Better's board said.

Better’s board responded with a statement suggesting that Garg may have violated securities laws.

Planet Home Lending increased its retail loan originator count by 12% during the second quarter of 2026.

Daniel Lewis, the interim CEO, joined Better's board July 27.

The Senate confirmed Jay Clayton as director of national intelligence last week.

Some 46% of lenders believe a shortage of available starter homes is the biggest barrier for first-time buyers.