Tagged: Finance of America Mortgage

Endorsements rise month over month, but flat annual volume and growing proprietary competition reshape opportunity for LOs

Finance of America is partnering with Spera Security to mitigate identity security risks and safeguard sensitive data.

Losses attributed to business lines it is vacating in 2023.

Agrees to pay up to $30M over a 3-year period, based on the performance of the purchased assets.

Expects to complete closing of its forward retail mortgage division by the end of 2022.

Unable to sell its forward mortgage origination unit, FoA decides to close it.

Fitch downgrades two nonbank residential mortgage lenders.

Also mutually agrees to end negotiations with Guaranteed Rate over sale of retail mortgage divison.

Company has posted 3 straight quarterly losses, reduced its workforce by 20% in 2022.

A 53% increase in Specialty Finance and Services (SF&S) segments revenue almost entirely offset the decline in mortgage revenue similarly experienced by the broader market.