Guaranteed Rate this week walked away from negotiations to acquire Finance of America’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. 

Meanwhile, FoA confirmed Friday that Finance of America Mortgage LLC (FAM), its forward mortgage company, will no longer fund and purchase loans through its wholesale and non-delegated correspondent channels. 

Consequently, 2022 may be the year FoA exits the forward mortgage space entirely to focus on products such as reverse mortgages, commercial lending, and home improvement. Incenter Mortgage Advisors, which provides details ⇒

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