Customer experience strategy among the key areas of focus for new faces
Reverse mortgage lender Finance of America Reverse (FAR) has announced two key executive hires to lead its digital transformation and customer experience strategy.
The company, a major provider of home equity-based retirement financing, has announced the appointment of Brian Conneen (pictured left) as chief information officer and Karime Benaissa (pictured right) as chief customer officer.
The hires come as FAR looks to enhance technology and improve accessibility for older homeowners looking to tap into their home equity. As demand for alternative retirement financing grows, the company is betting that a more digital, streamlined process will make reverse mortgages more accessible to both borrowers and lenders.
“Finance of America is embracing the opportunity to evolve and meet customer expectations like never before in our industry,” FAR president Kristen Sieffert said in a press release. “With these key hires, we are positioning Finance of America to lead the charge in transforming home equity solutions for older homeowners and for the lenders who serve them.”
Conneen, who played a critical role in scaling personal loan provider Best Egg, brings deep expertise in digital lending and financial technology. His experience in developing digital-first financial products will be crucial in overhauling FAR’s technology platform. He will focus on implementing modern, scalable solutions that streamline access to home equity for both consumers and lender partners.
Benaissa, meanwhile, has spent years working in e-commerce and digital operations at major consumer brands like Amazon, Petco, and Neiman Marcus. In his new role, Benaissa will lead customer experience transformation efforts, ensuring older homeowners can easily navigate and access reverse mortgage solutions. Additionally, he will work closely with Conneen to bridge technology and customer experience for a smoother lending process.
FAR, which rebranded in 2018 as a reverse mortgage loan provider, recently enhanced its HomeSafe Second loan – a product designed for homeowners aged 55 and older who want to tap into their home equity without monthly payments.
Last November, the company lowered the interest rate on its HomeSafe Second loan from 9.99% to 9.49%, making it a more competitive option for retirees looking for alternative financing solutions.
The Texas-based company’s push toward digital transformation comes at a time when homeowners are increasingly turning to home equity as a financial tool. A recent TD Bank survey found that 60% of homeowners are choosing to stay in their homes rather than sell, relying on home equity for debt consolidation, renovations, and wealth building.
Read more: Housing shortage fuels home equity boom
Beyond its reverse mortgage business, Finance of America also operates in capital markets and portfolio management, focusing on distributing originated loans to investors.
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