Finance of America Appoints New Security and Revenue Leaders

Reverse mortgage lender Finance of America has announced two key executive hires to bolster its operations and support growth in the retirement lending sector. Maury Pipkin has been appointed as the new Chief Information Security Officer (CISO), tasked with leading the company's enterprise cybersecurity strategy. He will report to Chief Information Officer Brian Conneen.

Bryan Summerhays joins as Senior Vice President of Revenue Growth and Channel Strategy, reporting to President Kristen Sieffert. His responsibilities will include overseeing customer engagement, sales productivity, and channel performance as the company scales its retail platform.

These appointments come at a time when reverse mortgage and other home equity-based retirement products are gaining traction among aging homeowners. Despite a dip in originations following interest rate hikes and product changes in 2022, long-term demand is supported by demographic trends and high homeowner equity levels.

Finance of America is prioritizing both robust cybersecurity measures and effective sales execution. The company highlighted that reverse mortgage lenders handle sensitive borrower data, making strong security crucial to avoid regulatory scrutiny, reputational damage, and operational disruptions. Sieffert stated that the new hires bring the necessary experience to strengthen these critical areas as the company expands access to home equity solutions.

Pipkin brings over 20 years of experience in cybersecurity and technology leadership from roles including CISO at RealPage. Summerhays has a background in managing large, regulated sales organizations, with a focus on improving sales productivity through data and technology amidst margin compression and rising compliance costs in the lending industry.

The company views these leadership changes as part of a broader strategy to build a scalable, secure, and customer-centric operating platform for its retirement offerings. Finance of America has been focusing on reverse mortgages, capital markets, and portfolio management after exiting certain forward mortgage activities.