Finance of America CEO Explains Why Mortgage Companies Are Entering IPO Space
today Daily Download Episode presents an interview with Patti cook, America’s Finance CEO. In this episode, Cook explains how the mortgage company coped during the new COVID-19 pandemic and takes a look at the lender and the service agent. recent announcement that it is expected to be released in the first half of 2021.
To learn more about the interview, here is a brief summary of the latest item discuss Finance of America joining the IPO craze:
The Finance of America Capital end-to-end lending and services platform is the latest mortgage company to jump into the growing IPO craze.
The lender and the service agent, property of the Blackstone Group Tactical Opportunities company, is expected to go public in the first half of 2021 through a special purpose acquisition company at a valuation of $ 1.9 billion.
After merging with Replay Acquisition company, Finance of America will receive a $ 250 million investment from institutional investors, according to the Wall Street Journal, which first reported the merger. Blackstone will own 70% of the company, which is expected to go public in the first half of 2021.
Finance of America says its business collection has generated more than $ 65 billion in loans since 2017. Its products include traditional mortgages, commercial real estate loans, reverse mortgages, fixed income investments and title services. Blackstone expanded its Finance of America company through a number of acquisitions in recent years, including pickups of Gateway funding, Pinnacle Capital Mortgage and Skyline Home Loans.
The Daily Download examines the most compelling articles reported by the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper insight into the stories shared in our newsroom that help Advance markets. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.
HousingWire articles covered in this episode: