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Finance of America hit with layoffs; chief retail sales officer steps down

Housing Wire

Leading reverse mortgage lender Finance of America (FOA) has undergone a round of layoffs that are impacting multiple levels of the organization, including retail and corporate leadership positions. Accordingly, we are refining our expenses and eliminating some roles in our retail and corporate divisions as our business simplifies.

Retail 482
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America’s New ‘Ghost Towns’

Appraisal Buzz

Now Joybird has redefined that term for the modern age. In their new study , “ghost towns” are modern metro areas on the edge of decline due to decreasing population and increasing home and retail vacancies. To create their list of America’s modern-day ghost towns, Joybird analyzed data from the U.S. The 10 U.S.

Retail 355
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One mortgage lender abandons the Florida condo market

Housing Wire

Condos in Florida have to be next level,” said one retail lending executive. Following the Surfside condo collapse in 2021 that killed 98 people, Florida lawmakers passed the Condo Safety Act , requiring condo associations to modernize buildings that had pushed off critical work for years. “I’m not surprised.

Marketing 524
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Cloudvirga Announces Enhanced Integration Between Horizon Retail POS and Encompass Partner Connect

Appraisal Buzz

Cloudvirga reports that it has completed an enhanced integration for its Horizon Retail POS product and Encompass Partner Connect , the latest API framework for mortgage technology from Intercontinental Exchange (ICE).

Retail 150
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FOA promotes Jonathan Scarpati to chief production officer

Housing Wire

Scarpati will now oversee both wholesale and retail production at FOA, in an effort to optimize internal structures and accelerate performance gains for its multichannel operations. Last month, the company hired two new executive leaders to modernize the companys digital and customer experience strategies.

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FOA’s Kristen Sieffert talks about growing the business in 2025

Housing Wire

She cited the full integration of the companies retail platforms, and the expansion of the proprietary second-lien reverse mortgage product to become a key fixture of the companys strategy including by making it available to wholesale partners.

Business 356
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Ready or not, CRA modernization is at the door

Housing Wire

Doing so would result in 32% of examined lenders receiving a “Needs to Improve” score, compared to the 16% earning that mark for their retail performance from 2017 to 2019, bank regulators estimated. The post Ready or not, CRA modernization is at the door appeared first on HousingWire. Doing those two things is difficult.”.