Amazon has struck a deal with embattled online mortgage lender Better.com to offer up a new benefit to employees.
Better.com is introducing Equity Unlocker, a programme that allows employees to use their vested equity as collateral for a down payment on a home. Employees at Amazon in Florida, New York, and Washington State will be the first to use the tool. According to Better.com, the programme is unique in that employees will be able to finance their homes without selling their shares, instead pledging vested equity. According to Better.com, former Amazon employees with vested equity can use the service, and there are many of them following Amazon’s companywide layoffs.