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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 370
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Reverse mortgage alums secure financing for alternative equity-tapping product

Housing Wire

Cornerstone Financing , a venture co-founded by former Reverse Mortgage Funding (RMF) CEO Craig Corn, has secured $285 million in financing through global investment firms Aquiline Capital Partners LP and Nomura. The product operates similarly to a shared equity investment. 31 of that year. 31 of that year.

Equity 369
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Finance of America reports Q4 loss, full-year profit for 2024

Housing Wire

Reverse mortgage leader Finance of America (FOA) recorded a quarter-over-quarter loss in the fourth quarter of 2024, but still notched a full-year profit. Finance of America is making home equity a mainstream component of retirement planning and we remain confident in our strategic direction and the long-term value of the business.

Finance 393
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As LA fires burn, reverse mortgage industry emphasizes need for servicer, insurer contacts

Housing Wire

Industry responses to the disaster In its weekly email update to members, the National Reverse Mortgage Lenders Association (NRMLA) advised its members to urge borrowers to immediately contact their servicers. The situation in Los Angeles is heartbreaking.

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FOA lowers rate, expands HomeSafe Second reverse mortgage into new states

Housing Wire

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. FOA President Kristen Sieffert said the product allows the company to address gaps in the existing HELOC and traditional home equity loan market.

Mortgages 434
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Rocket Companies to acquire Mr. Cooper in bombshell $9.4B deal

Housing Wire

Cooper , America’s largest mortgage servicer, in a market-shattering deal that could reshape the mortgage industry for years to come. billion , is paying an equity value of $9.4 Mr. Cooper did about $23 billion in originations last year, according to Inside Mortgage Finance data. Coopers existing originations.

Finance 468
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Alt home equity product from RMF alum expands into new states

Housing Wire

An alternative home equity-tapping product backed by former executives from a reverse mortgage lender has been rolled out to several additional states, following an earlier move that secured hundreds of millions of dollars in financing. In 2013, Corn and his partners launched RMF , which became a leading reverse mortgage lender.

Equity 234