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Finance of America Reverse LLC (“FAR”) understands you may be facing unique hardships during this difficult time. Many borrowers who are currently experiencing financial distress related to COVID-19 may be eligible for some type of assistance. Please contact us for information regarding options that may be available to you. If you are impacted by COVID-19, please call 866-654-0020 and have your loan number ready for the Customer Service representative.

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The New Division is the Culmination of a Multi-Year Effort to Build, Expand a Dedicated Team to Provide Ongoing Personalized Support and Guidance for Customers

San Diego, CA – October 20, 2021Finance of America Reverse LLC (“FAR”) today announced it has formally established a Borrower Engagement Division, which gives customers immediate and direct access to a specialized team of experts dedicated to providing personalized support, guidance, and peace of mind throughout the entire life of their loan.

FAR first laid the groundwork for the Borrower Engagement Division more than two years ago when it identified a need to ensure that customers of its proprietary HomeSafe® suite of products were guided through the entire servicing process by experts. Since then, FAR has focused on growing the team—increasing the number of professionals fivefold from five in 2019 to more than 25 today—and expanded its customer-first approach to address borrowers’ questions and needs. The Borrower Engagement Division is a one-of-a-kind service that is available exclusively to FAR’s HomeSafe and EquityAvail® borrowers.

“Our commitment to customers doesn’t end when the loan is approved. That’s just the beginning of a long and lasting relationship. We are rethinking and improving every aspect of the customer experience to make sure borrowers feel supported in their journey,” said Kristen Sieffert, President of FAR. “We love our borrowers, and we’re here to help them every step of the way. That’s why we have formalized our efforts under the Borrower Engagement Division and expanded our commitment to provide customers with concierge-level support that is unprecedented in our industry. The feedback from customers has been overwhelmingly positive as they find tremendous value in having multiple touchpoints and regular interactions with our team.”

FAR’s Borrower Engagement Division goes above and beyond, providing innovative services that are designed to build lasting relationships and create a one-stop resource for customers and their heirs. Support is offered via a dedicated 1-800 number and an online portal where customers can get information about their statement, line of credit, or other needs. By leveraging FAR’s technology suite, the division can identify potential pain points for customers and proactively reach out to help so customers remain in good standing and can receive the maximum benefit from their loan.

A post-funding welcome call, annual check-ins to assess financial needs, and a yearly gift with a reminder to submit required paperwork all help ensure regular contact with these valued customers. The division team members provide a warm, compassionate environment and send sympathy gifts to customers experiencing illness or the loss of a loved one. Additionally, the division plants a tree for each customer who passes away and provides specialized support to help heirs navigate the payoff process.

The Borrower Engagement Division works with loan officers and customers to advise on more complex matters and resolve issues regarding repair riders, taxes and insurance. It is also exploring ways to connect customers with other Finance of America partners. This includes FAR’s subsidiary, Silvernest, a home-sharing service that matches older homeowners with suitable roommates to provide additional income in retirement, and Finance of America Home Improvement, which can help homeowners looking to renovate their home to age-in-place.

In 2022, FAR plans to create additional community programming to further enrich the customer experience and provide more educational resources for both FAR and Silvernest customers. Working with the Stanford Center on Longevity and its vast body of research, educational initiatives are in development, as well as virtual experiences. FAR looks forward to announcing virtual and in-person activations that will further deliver on its commitment to empower people to get to work on retirement and create new ways to engage with its valued customers.

“The Borrower Engagement Division is unlike anything else out there, as we are connecting directly with customers and actively evaluating the experience alongside them,” said Jill Portilla, Vice President of Borrower Engagement at FAR. “We’re a live team of experts who understand the importance of providing valuable services and support at any point the customer needs it. When a customer has a question, they can call our direct line, and they take comfort in the fact that a real person is on the other end and eager to help.”

Portilla added, “I’m proud of the support we provide our customers throughout their retirement journey. From helping customers find homeowners insurance to sending a holiday gift, we’re always looking for new ways to stay top of mind for our customers and let them know we’re here to help for the life of their loan.”

About Finance of America Reverse

As a retirement solutions company and part of the Finance of America Companies (NYSE: FOA) family of companies, Finance of America Reverse is committed to empowering people with the tools they need to achieve financial independence and get to work on retirement. Through its team of Licensed Loan Officers and network of professional and wholesale partners, Finance of America Reverse offers products and services designed to help older Americans include home equity in their retirement plans. The company is licensed nationally and is a proud member of the National Reverse Mortgage Lenders Association (NRMLA).

For more information, please visit www.fareverse.com find us on FacebookLinkedIn or Twitter.

The HomeSafe® and EquityAvail® reverse mortgages are proprietary products of Finance of America Reverse LLC and are not affiliated with the Home Equity Conversion Mortgage (HECM) program. Not all products are available in every state. Please contact us for a complete list of availability.

©2021 Finance of America Reverse LLC is licensed nationwide | Equal Housing Opportunity | NMLS ID # 2285 (www.nmls.consumeraccess.org) | 8023 East 63rd Place, Suite 700 | Tulsa, OK 74133

This article is intended for general informational and educational purposes only, and should not be construed as financial or tax advice. For more information about whether a reverse mortgage may be right for you, you should consult an independent financial advisor. For tax advice, please consult a tax professional.