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Today, NatEquity has announced the appointment of Anthony M. "Tony" Frank and Lynford Graham, CPA, to the board of directors. NatEquity is a senior home equity access lender specializing in coastal California high-value suburban homes.
"Tony and Lyn bring complementary private sector and regulatory experience that will set NatEquity apart from others as the proprietary reverse mortgage industry serves the needs of house-rich cash-poor seniors. Seniors want a financial 'fresh start' with the assurance of lifetime income while they age in place," said Peter Mazonas, CEO of NatEquity. "For the first time in 50 years, the SEC is stepping in to enforce proper Level 3 Mark-to-Fair Value accounting rules. NatEquity's peer-reviewed and proven valuation IP will make our Company a market leader."
CEO of Nationwide Savings and Chairman of the Federal Home Loan Bank Board, Tony Frank created a Reverse Annuity Mortgage (RAM) program, the first reverse mortgage program in California. This pilot program was just the prototype for many to follow. After serving as U.S. Postmaster General, Tony went on to co-found Transamerica HomeFirst with NatEquity’s CEO, Peter Mazonas — the first successful proprietary lifetime income reverse mortgage program.
Lynford Graham is a CPA with more than 40 years of audit practice and policy development experience under his belt. As a past member of the Auditing Standards Board, he chaired the Task Forces and updates to AICPA pronouncements audit risk, audit sampling, revenue recognition and fair value accounting. He also previously worked as National Accounting & SEC Consulting Partner at BDO and previously at Coopers & Lybrand. He also authored a few books, including The Accounting Handbook and Internal Control Audit and Compliance (2015).
NatEquity is a senior home equity access lender specializing in coastal California high-value suburban homes. NatEquity's founders and managers are seniors who have come back to provide this under-served market with products and services they need and want.