"To be a leader in this market, you must securitize your own product with your own guidelines"
Bill Dallas, president of Finance of America Mortgage (FAM), has dedicated 23 years of his life to making a positive difference in the mortgage industry.
The 2021 Housing Industry Icon told MPA that his company has worked to create specialized loan products that are designed to address the affordability and supply constraint challenges the housing market is facing today.
“To be a leader in this market, you must securitize your own product with your own guidelines,” Dallas said. “We have dominated fix and flip, reverse, and home renovation. We are now turning our sights on cash-out seconds, personal loans, jumbo, and non-agency purchases. Our FLEX product suite will help us stay on top of this market.”
“We have built a company that offers its own proprietary non-agency purchase products, with our own guidelines so that we can help solve many of those issues,” he added. “Agency/government guidelines have not changed in over 50 years. In fact, I would say they have regressed with respect to income and assets.”
Aside from FAM’s non-agency strategy, Dallas said flawless execution, plenty of capital, and keeping the right people are some of the biggest factors in their ability to weather market volatility.
“My firms are built to grow in the dips,” Dallas said. “We build our business and stay focused on a robust yet simply stated strategy for the inevitable shift. We don’t panic and move the deck chairs to the other side of the Titanic.”
Want to learn more about the growing niche sector? MPA unveils the winning strategies of Housing Industry Icons like Dallas in a special report, which you can read here: Transforming the industry landscape.
