| Date | Title | Description |
| 14.12.2024 | Celink and Mirae Asset: Two Giants in Financial Services Making Waves | In the world of finance, customer loyalty and innovative products are the lifeblood of success. Two companies, Celink and Mirae Asset, are making headlines for their impressive achievements and strategic moves. Celink, a reverse mortgage se... |
| 12.12.2024 | Celink awarded high net promoter score in recent customer survey | Lansing, Michigan-based reverse mortgage servicing company Celink this week announced that it earned a high net promoter score (NPS) of 74, which is generally considered an “excellent” rating of customer loyalty, following a survey of its c... |
| 31.10.2024 | FOA lowers rate, expands HomeSafe Second reverse mortgage into new states | Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. It will also be available in four new states, bringing t... |
| 24.10.2024 | Mutual of Omaha’s reverse division launches broker protection program | Mutual of Omaha Mortgage’s reverse division has launched a new program, “Broker Protect,” that aims to offer what it calls industry-first protections to brokers doing business with the company.
Mutual of Omaha approved brokers and principal... |
| 29.09.2024 | The Changing Landscape of Reverse Mortgages: A Dual Perspective | The world of reverse mortgages is evolving. Recent events highlight this shift, showcasing both the challenges and opportunities that lie ahead. Two significant stories from the National Reverse Mortgage Lenders Association (NRMLA) and Sout... |
| 25.09.2024 |
NRMLA honors longtime service as CEO announces retirement | The first day of this year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego wound down with an announcement that marks the end of an era.
The association honored two of its most prominent past and... |
| 24.09.2024 | The Rise of Reverse Mortgages: A New Era for Seniors' Financial Freedom | In the ever-evolving landscape of finance, reverse mortgages are gaining traction. They are not just a lifeline; they are a bridge to financial freedom for many seniors. Recently, two significant players in the mortgage industry have made b... |
| 23.09.2024 |
Smartfi hires reverse marketing veteran Martin Lenoir as CMO | San Diego-based Smartfi Home Loans, which is primarily active as a wholesale lender in the reverse mortgage space and is actively building a retail division that offers reverse mortgage products, has hired industry veteran Martin Lenoir as ... |
| 23.09.2024 |
California-based Premier Plus Lending adds reverse mortgage division | Los Angeles area-based mortgage lender Premier Plus Lending announced last week that it is expanding into the senior-focused home equity market with a new division, Retirement Mortgage Solutions, which will include reverse mortgages and oth... |
| 19.09.2024 |
Reverse mortgage lenders are ready for lower interest rates | Like the traditional forward space, the reverse mortgage industry has been operating in an elevated interest rate environment for some time.
While news of the Federal Reserve lowering its benchmark interest rate by 50 basis points (bps) to ... |
| 17.09.2024 |
FOA announces amendment and update for bond exchange offer | Industry-leading reverse mortgage lender Finance of America (FOA) on Tuesday announced updates and new details for a previously announced exchange offer, which would swap current investor bonds due in 2025 with new bonds due one to four yea... |
| 06.09.2024 | The Reverse Mortgage Landscape: Navigating Challenges and Opportunities | The reverse mortgage industry is on a rollercoaster ride. August brought a dip in Home Equity Conversion Mortgage (HECM) endorsements, down 3.3% from July. The total endorsements fell to 2,200. Yet, amid this decline, there are glimmers of ... |
| 06.09.2024 |
The yo-yo ride for reverse mortgage volume continued in August | The reverse mortgage industry is pressing ahead with a chance at lower interest rates later this month. While there were signs of weakness in performance metrics in August, there are also commensurate signs of encouragement, according to in... |
| 04.09.2024 | The Future of Reverse Mortgages: Navigating a Changing Landscape | The world of reverse mortgages is on the brink of transformation. As the Federal Reserve hints at potential interest rate cuts, lenders are preparing for a shift that could reshape the industry. Elevated mortgage rates have been a constant ... |
| 03.09.2024 |
How reverse mortgage lenders are planning for potentially lower rates | With elevated mortgage rates having persisted over the past two years, Federal Reserve Chair Jerome Powell indicated recently that a cut to the federal funds rate at this month’s meeting of the Federal Open Market Committee (FOMC) is on the... |
| 16.08.2024 | The Housing Market Tightrope: Navigating Challenges and Opportunities | The American housing market is a complex web. It’s a tightrope walk between soaring prices and high interest rates. Many potential homebuyers find themselves stuck, waiting for a better moment to leap. But in this game of patience, time may... |
| 15.08.2024 |
Ginnie Mae files slew of documents, opposes summary judgment motion in TCB court case | Attorneys for the U.S. government, working on behalf of Ginnie Mae and the U.S. Department of Housing and Urban Development (HUD), last week filed a slew of new documents in their court case against Texas Capital Bank (TCB). These were prim... |
| 14.08.2024 |
Finance of America details reverse mortgage marketing moves, new Selleck spots | Industry-leading reverse mortgage lender Finance of America (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group (AAG) turned FOA spokesman Tom ... |
| 13.08.2024 | Guild Mortgage Surges Amid Market Challenges: A Look at Recent Trends | In the ever-shifting landscape of the mortgage industry, Guild Holdings Co. stands out like a lighthouse in a storm. The company recently reported a robust profit of $37.6 million for the second quarter of 2024, a significant leap from the ... |
| 09.08.2024 |
Reverse mortgage volume rose in July while securitizations fell | The reverse mortgage industry’s key performance indicators were split in July, according to data from industry analysts.
Home Equity Conversion Mortgage (HECM) endorsements increased by 8% from June to July, with the total of 2,274 falling ... |
| 08.08.2024 |
FOA given ‘good’ reverse mortgage originator rating by DBRS Morningstar | Global credit rating agency DBRS Morningstar this week assigned a “good” rating to reverse mortgage industry leader Finance of America (FOA), reconfirming the ranking the company was assigned at a similar point last year.
The rating is offi... |
| 07.08.2024 |
FOA reports loss in Q2 but notes improved performance | Industry-leading reverse mortgage lender Finance of America (FOA) recorded another loss in the second quarter of 2024, but it managed to move closer to profitability while also expanding its dollar volume of loans through other business met... |
| 06.08.2024 |
Seniors seem more receptive to roommates as they tackle housing costs | Older Americans who seek out younger roommates to stay on top of high housing costs is not a new concept, but there is evidence to suggest that the trend is growing more popular. This is according to a recent podcast episode hosted by Bosto... |
| 26.07.2024 |
FOA reverse stock split goes into effect, appears to have intended impact | Coinciding with the effective date for a previously announced reverse stock split, the price for shares of leading reverse mortgage lender Finance of America (FOA) stood well above the minimum threshold the New York Stock Exchange (NYSE) re... |
| 18.07.2024 |
FOA announces effective date for reverse stock split | Finance of America, the reverse mortgage industry’s leading lender, announced this week that its planned reverse stock split will take place as scheduled on July 25.
The plan, initially announced last month, involves consolidating the avail... |
| 17.07.2024 |
The biggest reverse mortgage marketing moves from the first half of 2024 | Reverse mortgage marketing can be an exacting process. Due to ongoing reputational challenges stemming from years (and loans) past, lenders have to consider the ways they can effectively recontextualize the product for some clients while br... |
| 10.07.2024 |
FOA rating downgraded by Fitch following debt exchange plan | Credit rating agency Fitch announced this week that its long-term issuer default rating (IDR) for Finance of America, the reverse mortgage industry’s leading lender, has been downgraded from “CCC+” to “C” following the announcement of a deb... |
| 02.07.2024 |
Reverse mortgage volume, securities issuance decline in June | After the reverse mortgage industry’s key performance metrics rallied in May, June fared slightly worse than previously telegraphed by case number assignments.
Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% in June to 2,1... |
| 26.06.2024 |
Finance of America announces debt restructuring, staving off 2025 maturity risk | Reverse mortgage industry leader Finance of America (FOA) announced this week that it has restructured its unsecured debt into new, secured debt that will come due beyond the original 2025 maturity date. This is according to an announcement... |
| 18.06.2024 | Aim Security: $18 Million Closed To Enable Secure Adoption Of AI Across Enterprises | Aim Security, a company that is enabling the secure adoption and use of AI across enterprise organizations, announced $18 million in Series A funding led by Canaan Partners, with participation from the company’s seed investor YL Ventures.
L... |
| 17.06.2024 | Aim Security Revolutionizes AI Security with $18M Series A Funding | Aim Security, a trailblazing company from Tel Aviv, Israel, has secured a groundbreaking $18 million in Series A funding to fortify the adoption of AI in enterprise organizations. Led by cybersecurity veterans Matan Getz and Adir Gruss, Aim... |
| 17.06.2024 | Aim Security Raises $18Million Series A for Generative AI Four Months After Stealth | Aim’s platform protects enterprises as they unleash the business benefits of GenAI
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| 17.06.2024 | Aim Security, Interview with CEO Matan Getz | Aim Security CEO Matan Getz
Aim Security, a Tel Aviv, Israel-based company enabling the secure adoption and use of AI across enterprise organizations, just announced the raise of a $18M Series A funding round. In conjunction with it, CEO Ma... |
| 13.06.2024 |
Two major reverse mortgage lenders to sponsor financial planner conference | The Alliance of Comprehensive Planners (ACP), a trade association for financial planners, will be holding its annual conference this October in Savannah, Georgia, and the event will feature two of the nation’s leading reverse mortgage lende... |
| 11.06.2024 |
Reverse mortgage consumer complaints decline on a yearly basis: CFPB | There were a total of 131 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) between Jan. 1 and June 10 of this year that were related to the reverse mortgage industry, according to a database maintained by the... |
| 06.06.2024 |
Moody’s reaffirms ‘above-average’ quality rating for reverse mortgage servicer Celink | Bond credit-rating organization Moody’s Investors Service has reaffirmed its “above-average” rating for the reverse mortgage servicing performance of Celink, which is the current holder of the U.S. Department of Housing and Urban Developmen... |
| 05.06.2024 |
Finance of America hit with layoffs; chief retail sales officer steps down | Leading reverse mortgage lender Finance of America (FOA) has undergone a round of layoffs that are impacting multiple levels of the organization, including retail and corporate leadership positions. The news was first reported by National M... |
| 05.06.2024 |
loanDepot adds Andrews, Wilkish to its sales leadership ranks | California-based mortgage lender loanDepot (LDI) has made two additions to its sales leadership team.
On Wednesday, the company confirmed that Justin Andrews has been hired as the new area sales manager in the Seattle region. Andrews comes ... |
| 31.05.2024 |
Acting Ginnie Mae president comments on ’HMBS 2.0’ | Ginnie Mae, which manages the government-guaranteed portfolio of forward and reverse mortgage-backed securities (MBS), announced this week at a National Reverse Mortgage Lenders Association (NRMLA) event that it will release initial details... |
| 17.05.2024 |
Jonathan Scarpati joins NRMLA board of directors | The National Reverse Mortgage Lenders Association (NRMLA) this week announced that Jonathan Scarpati, senior vice president of wholesale production at Finance of America (FOA), has joined its board of directors for the remainder of the 2024... |
| 17.05.2024 |
FOA’s Resch on the evolution of reverse mortgages for financial planning | Financial planners are an important referral source for reverse mortgage professionals, and Finance of America (FOA) vice president of retirement strategies Steve Resch has been at the head of the company’s conversations with planners to he... |
| 14.05.2024 |
Steve Resch talks about financial planner relationships for reverse lenders | Steve Resch, vice president of retirement strategies at leading reverse mortgage industry lender Finance of America, knows a lot about the intersection between the interests of financial planning professionals and reverse mortgage industry ... |
| 29.04.2024 |
Reverse mortgages seen as a path forward for lenders | Guild Mortgage CEO Terry Schmidt speaks last week at
The Gathering by HousingWire in Scottsdale, Arizona. Photo credit: AJ Canaria
Discussions about the reverse mortgage product category were not difficult to find this past week in Scottsda... |
| 25.04.2024 |
Kristen Sieffert leads the reverse mortgage presence at The Gathering | Kristen Sieffert, president of Finance of America Reverse, speaks during The Gathering
by HousingWire on Monday, April 21, 2024. Photo credit: AJ Canaria
Reverse mortgages became an unexpectedly prominent topic during certain parts of The G... |
| 24.04.2024 |
Reverse mortgage veteran offers advice for bringing new partners aboard | As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. Reputational challenges, the narrow focus of the product and low mortgage market penetration are just ... |
| 10.04.2024 |
FAR parent updates investors on AAG integration, business performance | Finance of America Companies (FOA), parent company of industry-leading reverse mortgage lender Finance of America Reverse (FAR), released a new “investor update” this week to update shareholders and other stakeholders on different elements ... |
| 15.03.2024 |
Senior-held home equity falls to $12.84 trillion in Q4 2023 | Homeowners 62 and older saw their collective home equity levels drop in the fourth quarter of 2023 by roughly $119 billion to $12.84 trillion, the third quarterly fall in the last year.
This is according to the Reverse Mortgage Market Index... |
| 11.03.2024 |
Reverse mortgage professionals react to resignation of HUD Secretary Fudge | Members of the reverse mortgage industry were surprised to learn that U.S. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge announced on Monday that she would be resigning from her post effective March 22. HUD deputy... |
| 03.10.2023 |
Finance of America CFO resigns, Engel to assume role in November | Finance of America Companies (FOA), the parent company of industry-leading lender Finance of America Reverse (FAR) and the American Advisors Group (AAG) brand, announced on Monday that Chief Financial Officer Johan Gericke is resigning from... |
| 06.07.2023 |
FOA closes on sale of Incenter’s title businesses | Finance of America (FOA) announced Thursday that its indirect subsidiary Incenter closed the sale of its title insurance businesses. The company previously announced that it would be selling its title insurance businesses in early February.... |
| 21.02.2023 | FOA agrees to sell commercial lending business to Roc Capital | Finance of America Companies (FOA) has entered into an agreement to sell the operational assets of its Finance of America Commercial vertical to Roc Capital Holdings LLC. The deal will offload an FoA subsidiary division that offers resident... |
| 02.02.2023 | FOA announces the sale of Incenter’s title businesses | Finance of America (FOA) indirect subsidiary Incenter is selling its title insurance businesses, according to an announcement made on Thursday.
Incenter has entered into an agreement with a wholly owned subsidiary of Essent Group Ltd. to se... |
| 07.10.2022 | After forward retail deal with G-Rate collapses, FoA announces wholesale exit | Guaranteed Rate this week walked away from negotiations to acquire Finance of America’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire.
Meanw... |
| 28.09.2022 | FoA plans to sell retail division to Guaranteed Rate, close wholesale channel: sources | Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire.
According to forme... |
| 04.08.2022 | Finance of America eliminates big chunk of workforce as losses mount | Finance of America posted steep losses in the second quarter and has pledged to eliminate a significant percentage of its workforce to contain the financial fallout.
As with other lenders seeing huge declines in mortgage origination volume,... |
| 02.08.2022 | FoA cuts workforce amid company restructuring, market downturn | Multichannel lender Finance of America (FoA) has laid off hundreds of employees across several rounds in the second and third quarters of 2022. The layoffs come amid a mortgage market downturn and a larger company restructuring, multiple cu... |
| 13.06.2022 | Patti Cook to resign as FoA’s CEO, citing health concerns | Multichannel lender Finance of America (FoA) Monday announced Patti Cook will step down from her role as chief executive officer June 30, in anticipation of her retirement due to an existing medical condition.
The board of directors appoint... |
| 18.03.2022 | Bill Dallas out at Finance of America Mortgage | Veteran mortgage executive Bill Dallas has left his position as president of Finance of America Mortgage amid larger changes to the Texas-based nonbank lender’s C-Suite and business lines.
Dallas, a seasoned entrepreneur, joined FoA Mortgag... |
| 15.12.2021 | How lenders can continue to serve borrowers despite housing affordability challenges | Housing inventory remains persistently low, home prices are at all-time highs and affordability is becoming out of reach for more people with every passing day. These dynamics are creating a perfect storm for potential homebuyers who are qu... |
| 09.11.2021 | FINANCE OF AMERICA REPORTS THIRD QUARTER 2021 RESULTS - Form 8-K | FINANCE OF AMERICA REPORTS THIRD QUARTER 2021 RESULTS
- Delivered a strong quarter with meaningful growth across all segments -
- Year to date revenue of $1.4 billion, up 7% compared to 2020 -
- Net income for the quarter of $50 million or ... |
| 12.08.2021 | FINANCE OF AMERICA : REPORTS SECOND QUARTER 2021 RESULTS (Form 8-K) | FINANCE OF AMERICA REPORTS SECOND QUARTER 2021 RESULTS
- Total revenue of $389 million on Funded Volume of $8.3 billion during the second quarter -
- Net loss for the quarter of $15 million or $(0.05) per diluted share -
- Adjusted Net Inco... |
| 27.04.2021 | Finance of America to acquire Parkside’s wholesale biz | Finance of America intends to acquire Parkside Lending‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. It’s the latest in a string of big M&A deals in the mortgage ... |
| 01.09.2020 | Finance of America Cares Takes an Innovative Approach | “Simply put, our partnership with Cares enhances our ability to help others and hold ourselves socially accountable. It also provides our employees the opportunity to participate in activities that reflect their personal philanthropic value... |