Geoff Zimpfer and Sarah Wheeler on the IPO craze and the nation’s forbearance rate

In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire Editor in Chief Sarah Wheeler discuss the growing number of mortgage companies entering the public arena and the nation’s latest forbearance numbers.

For some background on the interview, here’s a brief summary of HousingWire’s latest article on Blackstone-owned lender and servicer Finance of America becoming the latest company to to join the IPO craze:

End-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze.

The lender and servicer, owned by the Blackstone Group’s Tactical Opportunities business, is slated to go public in the first half of 2021 through a special purpose acquisition company at a $1.9 billion valuation. 

After it merges with Replay Acquisition Company, Finance of America will receive a $250 million investment from institutional investors, according to the Wall Street Journal, which first reported the merger. Blackstone will own 70% of the company, which is expected to go public in the first half of 2021.

Finance of America says its collection of companies has originated over $65 billion in loans since 2017. Its products include traditional mortgages, commercial real estate loans, reverse mortgages, fixed-income investing and title services. Blackstone has expanded its Finance of America corporation through a number of acquisitions in recent years, including pickups of Gateway Funding, Pinnacle Capital Mortgage and Skyline Home Loans.

The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.

HousingWire articles covered in this episode:

• Blackstone-owned lender and servicer Finance of America to go public
• Caliber Home Loans plans $2B-plus IPO
• After record fall of 18%, forbearances rose slightly last week
• United Wholesale Mortgage plans $16B public debut via acquisition
• LoanDepot could make public debut this year at up to $15B
• Quicken Loans prepares for IPO