General World News

FOA agrees to sell commercial lending business to Roc Capital

Finance of America Companies (FOA) has entered into an agreement to sell the operational assets of its Finance of America Commercial vertical to Roc Capital Holdings LLC. The deal will offload an FoA subsidiary division that offers residential real estate investment loans.

Roc Capital is expected to pay FOA an “aggregate purchase price” over a three-year period, which will be based on the purchased asset performance and will not exceed $30 million, according to an 8K form reviewed by HousingWire.

“Today’s announcement is another step taken by the company as it executes on its long-term strategy,” Graham Fleming, details ⇒

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