{"id":58432,"date":"2024-08-15T03:03:13","date_gmt":"2024-08-15T01:03:13","guid":{"rendered":"https:\/\/housesmarketplace.com\/finance-of-america-details-reverse-mortgage-marketing-moves-new-selleck-spots\/"},"modified":"2024-08-15T03:03:13","modified_gmt":"2024-08-15T01:03:13","slug":"finance-of-america-details-reverse-mortgage-marketing-moves-new-selleck-spots","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/finance-of-america-details-reverse-mortgage-marketing-moves-new-selleck-spots\/","title":{"rendered":"Finance of America \u0440\u0430\u0441\u043a\u0440\u044b\u0432\u0430\u0435\u0442 \u0445\u043e\u0434\u044b \u043c\u0430\u0440\u043a\u0435\u0442\u0438\u043d\u0433\u0430 \u043e\u0431\u0440\u0430\u0442\u043d\u043e\u0439 \u0438\u043f\u043e\u0442\u0435\u043a\u0438 \u0438 \u043d\u043e\u0432\u044b\u0435 \u043c\u0435\u0441\u0442\u0430 Selleck"},"content":{"rendered":"
\n

Industry-leading reverse mortgage lender Finance of America<\/strong><\/a> (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group<\/strong><\/a> (AAG) turned FOA spokesman Tom Selleck.<\/p>\n

During its second-quarter earnings<\/a> presentation last week, FOA President Kristen Sieffert offered new details about the ways in which FOA will leverage its assets from AAG. This included the assumption of the spokesman deal with the star of \u201cBlue Bloods\u201d and \u201cMagnum P.I.\u201d<\/p>\n

Going to market<\/h2>\n

Coming off its recent brand consolidation<\/a> under the FOA banner, the company also launched a new corporate website, new ads featuring Selleck, and refreshed social media outreach and multimedia advertising efforts, according to Sieffert.<\/p>\n

\u201cIn concert with the brand unification, we also developed and introduced a singular company purpose and shared values,\u201d Sieffert said during the earnings call. \u201cThis achievement marks a significant step in our evolution, enabling full alignment across the organization to maximize our productivity as a group and realize the full value of our investment.\u201d<\/p>\n

The go-to market strategy of the company\u2019s retail lending division was revised and includes stepping away from \u201cstrategies that have been less fruitful over time,\u201d she explained. \u201cWe expected to see outside returns from this shift and early results are supporting this theory.\u201d<\/p>\n

Proprietary products<\/h2>\n

Sieffert also said that the company is seeing strong demand for its suite of proprietary reverse mortgage products \u2014 which operates under the \u201cHomeSafe\u201d brand \u2014 in its wholesale<\/a> channel.<\/p>\n

\u201cIn Q2, we enhanced the [loan-to-value] of HomeSafe Second to appeal to a wider segment of borrowers and introduced a streamlined underwriting option for high credit-quality customers,\u201d Sieffert said. \u201cIn that same period, we experienced a 168% increase in submission volume quarter over quarter and a 30% reduction in average turn times.\u201c<\/p>\n

This follows moves made in October 2023 to expand the availability<\/a> of HomeSafe Second by rolling out the product to an expanded pool of wholesale brokers and direct retail loan officers. Brokers have shown a lot of interest in the product, and FOA aims to direct that inbound interest into more advertising in the coming quarter.<\/p>\n

\u201cWe will continue to expand the state availability each quarter and plan to launch HomeSafe Second-specific marketing campaigns in our retail channel by the end of Q3,\u201d Sieffert added.<\/p>\n

Expansion efforts<\/h2>\n

Tom Selleck originally became AAG\u2019s spokesman<\/a> in 2016, the result of a monthslong search following the death of prior spokesman and former Sen. Fred Thompson.<\/p>\n

\u201cIt\u2019s critical we partner with a spokesperson that older homeowners trust and with whom they feel a connection,\u201d former AAG CEO Reza Jahangiri said at the time.<\/p>\n

Following the announcement of AAG\u2019s acquisition by FOA in late 2022, Sieffert told HousingWire<\/strong>\u2018s Reverse Mortgage Daily (RMD) that the acquisition of AAG\u2019s marketing apparatus was a key factor<\/a> in the deal, including the services of Selleck as spokesman.<\/p>\n

FOA made a few of its new ads involving Selleck available in materials supplied to its shareholder website. Selleck is featured in three 2-minute commercials, which the company said helps to represent the newly unified brand while \u201cenhancing market visibility and customer recognition.\u201d <\/p>\n

Late last month, FOA also posted an infomercial featuring the actor<\/a> to its YouTube<\/strong> channel. In the same supplement, FOA said that its sentiment analysis of reverse mortgage media coverage has been steadily improving, and that coverage of the company itself skews \u201cneutral to positive.\u201d<\/p>\n

In supplemental commentary for its Q2 2024 results, FOA said that July \u201cis the highest funding month and highest submission month\u201d since its acquisition of AAG\u2019s retail assets. It noted that mortgage rate<\/a> declines are expected to make a difference in Q3 results.<\/p>\n

Sieffert also discussed some of the efforts the company is making to expand awareness of its products across the total addressable market, which has traditionally dwarfed the reverse mortgage industry\u2019s broader activities.<\/p>\n

\u201cWe continue to invest in digital technologies that capitalize on growth opportunities and create tailored experiences for our customers,\u201d Sieffert said. \u201cWith the heavy lift of the [loan origination system] and brand transitions behind us, we\u2019re shifting the team\u2019s attention to building out these capabilities as their top priority and look forward to sharing updates around these enhancements as they\u2019re introduced.\u201d<\/p>\n

During a Q&A session at the end of the earnings call, Sieffert was asked about loan volumes. She explained that the increased interest the company is seeing has been factored into guidance offered for third-quarter originations.<\/p>\n

According to Home Equity Conversion Mortgage (HECM) endorsement data<\/a> compiled by Reverse Market Insight<\/strong><\/a> (RMI), FOA is the leading reverse mortgage originator in the country with 6,988 loans endorsed through the 12-month period ending on July 31, 2024. While its HECM volume was down compared to the prior month, proprietary origination data is not included in that figure.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Industry-leading reverse mortgage lender Finance of America (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group (AAG) turned FOA spokesman Tom Selleck. During its second-quarter earnings presentation last week, FOA President Kristen Sieffert offered new details about the ways in which FOA […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-58432","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nFinance of America details reverse mortgage marketing moves, new Selleck spots - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.trio-tv.com\/ru\/finance-of-america-details-reverse-mortgage-marketing-moves-new-selleck-spots\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance of America details reverse mortgage marketing moves, new Selleck spots - Houses Marketplace\" \/>\n<meta property=\"og:description\" content=\"Industry-leading reverse mortgage lender Finance of America (FOA) detailed some of its ambitions in appealing to senior borrowers, which includes new TV commercials that feature former American Advisors Group (AAG) turned FOA spokesman Tom Selleck. 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