Housing Wire

JUNE 26, 2024

Reverse mortgage industry leader Finance of America (FOA) announced this week that it has restructured its unsecured debt into new, secured debt that will come due beyond the original 2025 maturity date. According to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), FOA was the No.

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Housing Wire

SEPTEMBER 17, 2024

Industry-leading reverse mortgage lender Finance of America (FOA) on Tuesday announced updates and new details for a previously announced exchange offer , which would swap current investor bonds due in 2025 with new bonds due one to four years later. In late July, FOA also posted an infomercial featuring Selleck to its YouTube channel.

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Housing Wire

JULY 3, 2024

A corporate executive with FOA explained to HousingWire ’s Reverse Mortgage Daily (RMD) that this is not expected to impact the company’s operations in a tangible way, nor is it expected to impede the progress of the other measures FOA is taking to shore up its class A common share stock price.

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Housing Wire

JULY 10, 2024

Credit rating agency Fitch announced this week that its long-term issuer default rating (IDR) for Finance of America , the reverse mortgage industry’s leading lender, has been downgraded from “CCC+” to “C” following the announcement of a debt restructuring plan that staves off maturity risk beyond 2025.

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Clear Capital

APRIL 1, 2024

Mordor Intelligence estimates that as of 2024, the home equity lending market size is estimated at nearly $31 billion, and is expected to grow to $36 billion by 2029. As home prices appreciate and homeowners make mortgage payments over time, the share of the home that they own grows — this is home equity. What is home equity lending?

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