Finance of America Companies, a leading specialty finance and solutions platform, issued the following statement from FOA Interim Chief Executive Officer Graham A. Fleming regarding the entry into an agreement for the sale of operational assets of Finance of America Commercial, a division of an FOA subsidiary that offers residential real estate investment loans, to Roc Capital Holdings LLC (“Roc360”), a vertically-integrated digital platform for residential real estate investors:
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“Today’s announcement is another step taken by the Company as it executes on its long-term strategy. By streamlining our focus and growing our core businesses, which benefit from a shared set of demographic and economic tailwinds, FOA can more effectively dispatch our innovative suite of solutions to help Americans achieve their retirement goals through the use of home equity.”
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Credit Suisse Securities (USA) LLC acted as financial advisor to FOA. For more information, please see our Current Report on Form 8-K to be filed with the Securities and Exchange Commission (the “SEC”).
Finance of America is a specialty finance consumer lending platform that provides customers with access to an innovative range of flexible solutions including reverse mortgages and home improvement loans. In addition, FOA offers complementary lending services to enhance the customer experience, as well as capital markets and portfolio management capabilities to optimize distribution to investors. FOA is headquartered in Plano, TX.
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