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Home equity access: How Finance of America bolsters the market with home equity products

Housing Wire

However, homeowners have a unique advantage with home equity products—designed to let residents tap into their home’s equity for cash. Mortgage professionals must keep up with the new demand for home equity products in the new market. HousingWire: How did you get into Finance of America and the industry?

Equity 369
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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 369
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Ruoff Mortgage teams with Calque on ‘buy before you sell’ offering

Housing Wire

Indiana-based lender Ruoff Mortgage is making a move designed to help more homeowners get into new homes with ease. Sellers can tap into their current home equity in a bid to buy another property without coming up with cash for a down payment.

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Distressed homeowners have a new path to avoid foreclosure

Housing Wire

For those who are struggling to repay their mortgages, the process aims to help them avoid foreclosure and retain their home equity. Every distressed customer deserved a chance to protect their equity, and Auction.com is going beyond auctions to make that possible, President Ali Haralson said in a statement.

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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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New executive leaders at FOA to focus on ‘modernizing’ tech, customer experience

Housing Wire

Top five reverse mortgage lender Finance of America (FOA) announced on Tuesday the hiring of two new executive leaders to modernize the companys digital and customer experience strategies. “These executive appointments are crucial for Finance of Americas objective to redefine the reverse mortgage experience.

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Freddie Mac’s controversial gambit into home equity: Is more liquidity a bad thing?

Housing Wire

Credit-risk transfer vehicles “would be evaluated in subsequent phases,” according to an outline of the proposed Freddie CES plan issued by its governing body, the Federal Housing Finance Agency (FHFA). This provides homeowners with a cost-effective alternative for accessing the equity in their homes.”

Equity 491