The company has partnered with an online home-sharing service under its new approach
Finance of America Reverse has unveiled its new brand positioning as a holistic retirement products provider.
As part of the initiative, the company created a new internal borrower engagement team as well as entered a strategic partnership with Silvernest, an online home-sharing service that pairs aging homeowners with qualified housemates.
The company designed the engagement team to align business practices with the organization’s refined purpose. The team will focus on identifying opportunities to create value for borrowers both before they choose a loan product and throughout the life of the loan. The team’s first initiatives include introducing kits for new and existing borrowers that offer education and resources beyond loan products.
As part of their agreement, Finance of America and Silvernest will work together on joint marketing initiatives including consumer events, digital and print publications, as well as optional discounted memberships to Silvernest’s matching platform. An initial mailing to the Finance of America borrowers has already generated nearly 20 roommate matches.
“About a year ago, we made a significant investment in consumer research to better understand how people across the country are approaching retirement and how strategic uses of home equity could play a role,” Finance of America Reverse President Kristen Sieffert said. “We learned that before anyone can consider using home equity – or any loan product – to fund retirement, they need to make a decision to be proactive about planning for retirement. That finding motivated us to not only continue building a comprehensive product suite but also to identify what else we could do to break down barriers to achieving a fulfilling retirement and integrate that into our business.”
