Kristen Sieffert from FOA talks about growing the company in 2025
She mentioned the full integration of the retail platforms of the companies and the expansion of their own Second-Lien Reverse Hypotheekproduct to become an important drawing up of the company’s strategy, including by making it available to wholesalers.
“We have also revised our data and reporting infrastructure with the help of an AI -driven tool, so that we can benefit from trends that stimulate performance,” she said. “These milestones, combined with a successful implementation of our remaining operational initiatives, positioned us to close 2024 with our largest production month since 2022.”
The growth in 2025 will result from extra optimization of business channels, explained them, and “a focus on areas with considerable upward opportunities.”
She mentioned the recent appointment of two new employees to the Executive Team – Brian Conneen as Chief Information Officer and Karime Benaissa as Chief Customer Officer – and said: “Their leadership will be crucial in improving the customer journey and enable us to enable us to enable and enable us [to] More useful on the $ 14 trillion Senior Equity market for home shares. “
The demand for loans among homeowners on or older than 55 years represents more than 31% of all second-lien original in 2023, she said, which indicates the potential of the “Homesafe Second” product.
Sieffert said that although the potential for their involvement in second-lien original remains high, achieving their goals is a different story. The second-Lien product from FOA was good for just one tenth of 1% of the total second-lien loans to the senior demography.
“This emphasizes the enormous opportunity for us by even capturing a small part of this market by our digital transformation, extensive partnerships with traditional lenders and modernized advertising campaign and brand platform launching in Q2 this year,” she said.
Despite the fact that they continue to operate in a “challenging” mortgage market environment, FOA remains optimistic about the prospects in the coming years, she added.
During the Q&A part of the call, Sieffert also discussed the transition where the company is planning in his marketing approach.
“We have invested quite a lot in consumer research to really understand how we can achieve the total addressable market that exists,” she said. “We have now worked on a complete advertising and brand platform transition in the past year, [which] goes live in Q2. We will fully migrate from our old advertising campaigns in the new campaigns in the summer. “
That transition is expected to be completed in June, she explained, attributing the upward potential by going beyond the more traditional approaches of FOA, especially on television.
“We see an enormous amount of benefits there to really optimize the amount of investments we make in marketing in the funnel,” she said.
