LARKSPUR, Calif., Dec. 01, 2021 (GLOBE NEWSWIRE) -- NatEquity announced today the appointment of Anthony M. "Tony" Frank and Lynford Graham, CPA, to the board of directors.
"Tony and Lyn bring complementary private sector and regulatory experience that will set NatEquity apart from others as the proprietary reverse mortgage industry serves the needs of house-rich cash-poor seniors. Seniors want a financial 'fresh start' with the assurance of lifetime income while they age in place," said Peter Mazonas, NatEquity's CEO. "For the first time in 50 years, the SEC is stepping in to enforce proper Level 3 Mark-to-Fair Value accounting rules. NatEquity's peer-reviewed and proven valuation IP will make our Company a market leader."
In 1979, while CEO of Nationwide Savings and Chairman of the Federal Home Loan Bank Board, Tony Frank created a pilot Reverse Annuity Mortgage (RAM) program, the first reverse mortgage in California. This program was the prototype for many programs to follow. After serving as U.S. Postmaster General, Tony went on to cofound Transamerica HomeFirst with NatEquity's CEO, Peter Mazonas. Transamerica HomeFirst was the first successful proprietary lifetime income reverse mortgage program. Tony also served as the founding outside director of Charles Schwab Company, Schwab Bank and Triton International, now a Transamerica company. Tony holds a BA and MBA from Dartmouth College, (Tuck School).
Lynford Graham is a CPA with more than 40 years of audit practice and policy development experience. Dr. Graham is a past member of the Auditing Standards Board. He chaired the Task Forces and updates to AICPA pronouncements on audit risk, audit sampling, revenue recognition and fair value accounting. He was the National Accounting & SEC Consulting Partner at BDO and previously at Coopers & Lybrand. Dr. Graham is the author of books including The Accounting Handbook and Internal Control Audit and Compliance (2015). Dr. Graham holds an MBA and Ph.D. from the University of Pennsylvania, (Wharton School).
About NatEquity. NatEquity is a senior home equity access lender specializing in coastal California high-value suburban homes. Aging in place, today's 3 million coastal California senior homeowners will grow to 6.5 million in 2030 - the most of any state just eight years from now. 82 of the top 100 high home value zip codes nationally are located in this market. NatEquity's founders and managers are seniors who have come back to provide this under-served market with products and services they need and want.
Contact:
Peter Mazonas, CEO
(415) 924-6269
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