April 18, 2019
New York, NY – April 15, 2019 – Finance of America Mortgage LLC (FAM), one of the largest non-bank lenders in the US, announced today that David A. Brown, Director of Third Party Originations, will also take the helm of FAM’s Wholesale Division.
With over 30 years of industry experience, David served as COO of Capital Markets and Retail Sales for Skyline Financial Corporation, and Senior Vice President of Capital Markets for Freedom Mortgage Corporation, where he directed hedging, securitization, and pricing for both Wholesale and Correspondent channels. Prior, David headed the Financial Services Group of national homebuilder Ryland, and worked at Countrywide Correspondent Lending, and was a mortgage-backed securities trader/salesperson for Fannie Mae.
FAM President Bill Dallas explains the strategy shift, “Across every business line, we are constantly asking ourselves how we can best serve our client. In support of that effort, we are redirecting our wholesale strategy to focus on proprietary products and technology where we have a comparative advantage. I have worked with Dave Brown for the last five years and his expertise and leadership will allow us to offer and emphasize the vast array of Finance of America products in a cost-effective way. This is what our client needs, so this is what we will deliver.”
FAM’s relationship with other Finance of America entities, including Finance of America Commercial, and Finance of America Reverse, provides market differentiation for FAM Wholesale in key proprietary markets. Brown adds “We can offer a wider range of products -including Fix and Flip, Rental and Renovation loans, and HomeSafe Reverse Mortgages. Plus, our product innovation group is creating additional products unique to FAM and available to their broker partners.”
That product innovation group is on the rise as well, with the addition of industry veterans Khalil Kanaan and Patrick Kim. Kanaan plans to bring exponential growth to the FAM Wholesale mortgage platform, with an eye on technology and distribution.
Dallas spoke of next steps in the brightest terms: “Our products are the future. We just released Two-X Apex, our new high LTV, no MI, QM, jumbo mortgage solution. This is only the beginning of the product evolution FAM will bring to the market. Stay tuned.”