Patricia L. Cook, the former CEO of Finance of America, passed away from pancreatic cancer on Friday, according to her online obituary. She was 70 years old.
Cook was with Finance of America for six years, serving as its CEO from October 2020 to June 30, 2022, before retiring for medical reasons. She joined Finance of America as senior managing director in March 2016 and was elevated to president in March 2017.
Under Cook’s leadership, Finance of America grew to more than 5,000 employees across 300 global offices and achieved record revenue growth across all business segments. In addition, the company completed several strategic acquisitions of industry-leading platforms across mortgage, specialty finance, and lender services with a focus on growing complementary business lines that enabled FOA to reach and serve more customers. This culminated with Finance of America debuting on the New York Stock Exchange on April 5, 2021.
Bill Dallas of Dallas Capital said, “Patti and I were partners at Finance of America. She came from DiTech, and I came from Skyline and Cloudvirga In my view, Patti was one of the most influential women in mortgage banking and financial services. She was reasoned, thoughtful, and well-respected.
“Patti came to mortgage banking from Wall Street, so her expertise was capital markets and fixed income. Her stint as the number two person at Freddie Mac during a very tumultuous time gave Patti her love for mortgages. She was truly a treasure and a wonderful friend.”
At the time of her retirement, Cook said, “I’m proud of everything that I’ve accomplished throughout my 40-year-long career. Now, I’m ready to embark on a new chapter in life, including spending more time with family, especially my grandchildren.” According to her obituary, she stayed true to her word. Her last adventures in the time before her death include crossing the Drake Passage to Antarctica, biking in Vietnam, whale watching in Canada, ranching in Montana, and skiing in Utah. Three daughters and six grandchildren survive her.
She had an illustrious career in finance, starting at Arthur Young, becoming the head of fixed income at Solomon Brothers, then a managing director at Fisher Francis Trees & Watts. She was chief investment officer of JP Morgan, chief investment officer for Prudential, EVP and chief business officer of Freddie Mac, president of Ditech Financial LLC, EVP of GreenTree, and ultimately took Finance of America public as its CEO before retiring.
Finance of America issued this statement. ‘’The entire Finance of America team is deeply saddened by the passing of our former fearless leader, Patti Cook. Patti embodied all that was good about leadership and mentorship. She was a pioneer, an inspiration, and friend. She will be truly missed. Our sincere condolences to her family and friends during this difficult time.’’ The company also published a tribute on its LinkedIn page. It includes a moving video tribute.
The funeral service was held at the Church of St. Ignatius Loyola in Manhattan on Tuesday, Nov. 7, at 10:30 a.m.