Company seeks to strengthen its market position and break down reverse mortgage barriers
Finance of America will merge its two reverse mortgage brands, American Advisors Group (AAG) and Finance of America Reverse (FAR), to streamline its operations and strengthen its market position.
The combined entity will operate under the “Finance of America” name, with the transition expected in the third quarter of 2024, pending regulatory approvals.
Kristen Sieffert, president of Finance of America, described the consolidation as a crucial step in the company’s ongoing strategy to enhance its market presence and streamline operations.
“This is another key moment in our evolution and the result of ongoing collaboration among our teams to optimize our operational platform,” Sieffert said in a Press release. “We see this as the precursor to our plan to break the reverse mortgage adoption barrier and make home equity a core component of a modern retirement.”
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Finance of America chief marketing officer Chris Moschner believes this rebranding will yield greater marketing efficiency and a more powerful market presence.
“Focusing our resources on a single Finance of America brand increases our marketing efficacy and enables us to create a recognizable and powerful brand in the market,” said Moschner. “We are preparing for an exciting path forward over the months and years ahead, and this is a necessary first step on that journey.”
The company said the unification marks the beginning of a broader branding strategy that is expected to fully launch with new branding and messaging in early 2025.
FAR, the largest reverse mortgage lender in the country, acquired AAG in 2022. Licensed nationally, it offers a variety of home-equity-based financing options to support retirees, working through a network of professional and wholesale partners and licensed loan officers. Finance of America Reverse is also a member of the National Reverse Mortgage Lenders Association (NRMLA).
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