Finance of America Launches New Business Unit
- Feb 16, 2017
Charlotte and Chicago—Finance of America, a national full-service mortgage banker offering a diverse portfolio of home loan products, recently launched a new business unit for real estate investors, Finance of America Commercial.
The business unit was established following Finance of America’s investment in B2R Finance and B2R’s simultaneous acquisition of certain assets from private money lender Jordan Capital Finance. Under the terms of the transactions, B2R Finance joins Finance of America’s leading portfolio of brands and will operate under the Finance of America Commercial LLC name. The terms of the transactions remained undisclosed.
Mark Filler, CEO of Jordan Capital Finance will serve as president of Finance of America Commercial. Ben Fertig, senior vice president of Jordan Capital and senior vice presidents Joe Hullinger and Matt Soto of B2R will continue to oversee operations for the organizations and lead sales efforts.
Finance of America Commercial will focus on independent mortgage brokers and will also leverage opportunities to work with mortgage advisors within the Finance of America family of companies. The business unit will continue to maintain direct relationships with real estate investors and borrowers from both Charlotte and Chicago, as well as from regional offices through the country.
“The addition of commercial loans to our existing suite of products is a natural progression for us and we continue to execute against our vision of becoming a leading diversified national lender with the launch of this new business unit,” said Brian Libman, executive chairman of Finance of America Holdings LLC, in a prepared statement. “The launch of Finance of America Commercial enables us to reach new borrowers and will help us continue to strengthen awareness of the Finance of America brand.”
“With nearly 16 million rental units in the United States and residential purchase-rehab-resale transactions reaching new highs, the real estate investment opportunity is clear and we believe that Finance of America Commercial will continue to be a leader in the space,” said Filler in prepared remarks.
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