Online Lender Better, Founder Vishal Garg Face SEC Inquiry

Better, the online mortgage lender, is facing an inquiry by US regulators that focuses in part on founder and Chief Executive Officer Vishal Garg.

The company and its suitor, a special purpose acquisition company called Aurora Acquisition Corp., received voluntary requests for information during the second quarter from the enforcement division of the Securities and Exchange Commission, according to documents filed with the agency on Thursday.

The requests cover aspects of Better’s operations, related-party transactions and “certain matters relating to certain actions and circumstances” of Garg as well as his business activities. The SEC has also ...