Read about the latest happenings in companies across the reverse space. Have exciting news to share? Email us to see it in print!
Urban Financial of America Changes Name to Finance of America Reverse Leading lender Urban Financial of America has changed its name to Finance of America Reverse LLC, reflecting the name of its parent company, Finance of America Holdings. “Unifying the Finance of America Holdings brands is a key step in establishing the wide diversity of products and services available to our customers,” says Kristen Sieffert, president of Finance of America Reverse. “Finance of America will be synonymous with all types of lending, and reverse mortgages are a key component of that business. Changing our name also increases transparency and assists us in placing all customers into the product that best serves their lifestyle.” As a result of the ownership of Finance of America Reverse and the acquisition of several additional mortgage companies, Finance of America Holdings has become one of the nation’s largest nonbank originators.
RMF to Sponsor NAHB Survey on the Housing Preferences of Baby Boomers Reverse Mortgage Funding (RMF) will sponsor a National Association of Home Builders (NAHB) survey, “Housing Preferences of the Boomer Generation: How They Compare to Other Home Buyers.” Results will be presented at the NAHB International Builders’ Show in late January. “This survey will provide a unique look at the buying preferences of our core customer, and serving as a title sponsor will help strengthen our brand awareness among the conference’s participants, which include many of the nation’s largest, most respected homebuilders as well as leading economists and personal finance professionals,” says Jean Noble, chief marketing officer of RMF. “Our presence at this marquee event will serve to help these parties understand and appreciate how a Home Equity Conversion Mortgage for Purchase loan can increase the buying power of older Americans, providing them with the financial flexibility to purchase the home they really want, including the amenities they need or desire.” The survey will be conducted online in two phases using a consumer research panel maintained by an independent subsidiary of the NAHB.
ReverseVision Announces Credit Report Integration with Certified Credit Reporting ReverseVision has partnered with Certified Credit Reporting, a nationwide provider of credit reports and mortgage information services. This integration within RV Exchange (RVX), ReverseVision’s flagship reverse loan origination system platform, increases RVX users’ choice of automated credit report services. Reverse mortgage lenders use RVX for the full lifecycle of the loan-from initial proposal through application, underwriting, closing and post-closing. “Certified Credit Reporting is already a trusted provider of mortgage information services to lenders nationwide and their emphasis on attentive customer service makes this relationship a natural fit,” said ReverseVision President and CEO John Button.
AAG Hires Wholesale Strategy Director AAG has hired Fraser Tod as its new director of wholesale strategy. Tod, who has more than nine years of reverse mortgage industry experience, worked previously for Liberty Home Equity Solutions, where he ran the wholesale inside sales production support and strategy teams. In his new role, Tod will drive AAG wholesale data reporting, analytics and strategies to propel channel growth and position AAG as the leading reverse mortgage wholesale lender in the country. “We’re pleased to welcome Fraser and the unique skills, knowledge and experience he brings to help us evolve and execute our wholesale growth strategy,” says Kimberly Smith, AAG’s senior vice president of wholesale lending. “With his acute understanding of the reverse mortgage industry, there’s no doubt Fraser will help advance AAG as the forerunner among our competitors.”
