Finance of America Reverse LLC

PHH has agreed to sell reverse mortgage servicing rights, comprised of approximately 40,000 Ginnie Mae HECM loans, with an unpaid principal balance of $9.6 billion, as PHH becomes the subservicer for the reverse MSRs under a three-year agreement

While economic and personal financial concerns intensify, many overlook vast home equity potential as a financial cushion.

Also names Graham A. Fleming its CEO and promotes Kristen N. Sieffert to president.

U.S. homeowners age 62 and older hold more than $10.6 trillion in housing wealth. 

Naomi Hart will lead marketing performance management with an emphasis on growth.