Finance of America Refugee Lands on Hallmark Home Mortgage

Hallmark is positioned among the top 100 mortgage lenders with expansion in Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas.

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Finance of America’s exit from forward mortgage lending has proven to be a strategic growth opportunity for the Fort Wayne, Indiana-based independent mortgage lender. hallmark mortgagehas brought in more than 60 mortgage experts from downsizing companies.

Mark WadmanSince 2016, he has been Divisional Manager of Retail Originations at Finance of America.

Deborah Sturgis

Hallmark Home Mortgage Founder and CEO Deborah Sturges said in a statement: “This productivity gain will create new employment opportunities at our headquarters in Fort Wayne.”

Cody Castagno, branch manager of Hallmark Home Mortgage in Tyler, Texas, was one of the former Finance of America employees to post the news of the move on LinkedIn.

Finance of America Companies, a non-bank financial institution that went public last year, Announced on October 21 By the end of the year, it said it would wind down its retail mortgage business and focus on reverse mortgages, home improvement, commercial loans and lender services.

Finance of America previously announced it would exit its wholesale and correspondent lending business after laying off more than 1,000 people this year. mounting loss.

It was worth about $2 billion when it went public last year SPAC MergerFinance of America Mortgage, conducted most of its business through retail and direct-to-consumer channels.

The Irving, Texas-based lender was reportedly in talks to sell its retail mortgage division, which employs about 1,000 loan originators working in more than 200 branches nationwide.

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