FoA plans to sell retail division to Guaranteed Rate, close wholesale channel: sources
Housing Wire
SEPTEMBER 29, 2022
Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . According to former top executives and business partners, FoA signed a letter of intent to sell its forward mortgage retail business to competitor Guaranteed Rate , but negotiations are still in progress and remain fluid.
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