"The partnership enables FOA to offer new home equity products without building additional infrastructure, using Tinman's plug-and-play AI technology. Borrowers will benefit from dynamic rate and fee optimization and a fully digital, 24/7 AI-powered application and approval process. FOA's traditional Home Equity Conversion Mortgage (HECM) and HomeSafe proprietary product suite will also be available through Better's platform. Finance of America is a distinct leader, funding over $25 billion in reverse mortgage loans in the last decade,"
"Together, we're playing to our complementary strengths combining Finance of America's deep expertise with Better's Tinman AI technology to deliver a faster, smarter, and more accessible borrowing experience. Better said it will initially leverage traditional reverse mortgage technology infrastructure but plans to integrate first- and second-lien home equity solutions including reverse mortgages, HELOCs and home equity loans into a unified AI-powered digital ecosystem."
The partnership enables Finance of America to offer new home equity products without building additional infrastructure by using Better's Tinman plug-and-play AI technology. Borrowers will receive dynamic rate and fee optimization and a fully digital, 24/7 AI-powered application and approval process. FOA's Home Equity Conversion Mortgage (HECM) and HomeSafe proprietary product suite will be accessible through Better's platform. Finance of America funded over $25 billion in reverse mortgage loans in the last decade and held an 18.5% HECM market share with 411 endorsements in September. Better plans to integrate first- and second-lien home equity solutions into a unified AI-powered digital ecosystem while expanding financing capacity.
Read at www.housingwire.com
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