Kathryn Amor, former senior vice president of Finance of America Companies (FoA), has taken on a new role at Guaranteed Rate as the Chicago-based lender looks to diversify its product mix amid the mortgage downturn.
Amor, whose title is senior vice president and head of enterprise products at Guaranteed Rate, joined the capital markets team, where she will “oversee all product offerings in this rapidly changing market,” the firm said in December.
The executive has more than 13 years of experience in the mortgage industry, working most recently worked as SVP of enterprise products at Finance of America, a role held for nearly two years. Prior to that, Amor was in product development and credit policy for over four years at FoA.
Finance of America closed its forward mortgage origination unit in October to invest in the company’s reverse and commercial originations, lender services and portfolio management segments.
Amor joins Guaranteed Rate as it looks to navigate the ongoing industry headwinds by expanding beyond mortgage rate-sensitive products to drum up more business.
The Chicago lender started offering personal loans in July. These loans allow borrowers to apply for personal loans in 10 minutes and receive funds between $4,000 and $50,000 within hours, the firm said at the time of the launch.
That same month, Guaranteed Rate also added home equity line of credit (HELOC) options for homeowners. Guaranteed Rate’s HELOC is structured as a fixed-rate loan with term options of 5, 10, 15 or 30 years — and borrowers can take money from the line of credit for a draw period of two to five years, depending on the term selected.
Inside Mortgage Finance pegs the Chicago lender as the ninth largest mortgage lender. It originated $45.2 billion in the first nine months of 2022, with $15.4 billion in originations during the third quarter alone.
“I am looking forward to all of the amazing #productopportunities we are going to co-create together,” Amor wrote on LinkedIn on Tuesday.
“This is an amazingly supportive industry that routinely rises together to support the goal of financial independence through homeownership, and I am honored to be part of it,” she said.