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Dunmor, Newfi augment partnership with minority equity investment

Housing Wire

Business-purpose residential mortgage lender Dunmor announced Thursday that it has received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. According to Dunmor, the investment is an extension of an original partnership initiated in June 2024.

Equity 366
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FAR, AAG to unify under Finance of America brand

Housing Wire

Finance of America Companies (FOA) announced on Monday that its reverse mortgage brandsFinance of America Reverse (FAR) and American Advisors Group (AAG) — will be consolidated under the singular Finance of America brand going forward. A single brand will help with our customer experience.

Branding 468
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FOA’s Kristen Sieffert talks about growing the business in 2025

Housing Wire

Despite a drop in overall profitability in the fourth quarter of 2024, FOA, one of the nations leading reverse mortgage lenders, remains optimistic about the total addressable market for home equity-based retirement products and will continue to develop its offerings in 2025.

Branding 346
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FOA seeks to ‘modernize’ reverse mortgage outreach efforts to seniors

Housing Wire

Finance of America (FOA), the leading reverse mortgage lender, presented a robust outlook last week in its third-quarter 2024 earnings and is aiming to hit the ground running with business in 2025. The potential for building on HomeSafe Second’s numbers also comes from broader trends in the home equity lending space, she said.

Mortgages 370
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Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). Yet staggeringly few are aware of its existence.

Finance 482
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FOA enlists new marketing agency in renewed push

Housing Wire

Top-five reverse mortgage lender Finance of America (FOA) has enlisted creative advertising agency David&Goliath (D&G) to serve as its new creative agency of record (AOR), following a competitive process including several other candidate agencies.

Marketing 255
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Finance of America hit with layoffs; chief retail sales officer steps down

Housing Wire

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 Mortgage News. As of late-day trading on Wednesday, the price currently sits at $0.59.

Finance 482