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Finance of America Mortgage Plans to Shut Down

Finance of America said it intends to shut its forward mortgage originations business across both retail and wholesale channels by year’s end.

finance of americaWhile FOA Mortgage is closing down operations, the company touted successes in its reverse, commercial and lender services segments, along with portfolio management and home improvement.

“The discontinuation of the forward mortgage originations segment will allow FOA to optimize its resources and prioritize businesses that have a distinct market opportunity and greater growth potential,” FOA interim CEO Graham Fleming said in a statement.

Read the full announcement.

 

 

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