The article discusses Kristen Sieffert's strategies to enhance FOA's growth, including full integration of retail platforms and expanding a proprietary reverse mortgage product for wholesale partners. She highlights an A.I. overhaul of data systems to identify performance trends and expects 2024 to be a strong production year. Sieffert outlines new leadership roles impacting customer experience and the potential of the HomeSafe Second product, which currently captures a small market share. Despite challenges, FOA is optimistic about future prospects, focusing on digital transformation and optimized business operations.
The demand for loans among homeowners at or over the age of 55 represents more than 31% of all second-lien originations in 2023, indicating the potential of the HomeSafe Second product.
We overhauled our data and reporting infrastructure using an A.I. driven tool, enabling us to capitalize on trends that drive performance.
Despite continuing to operate in a challenging mortgage market environment, FOA remains optimistic about its prospects in the years ahead.
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