Key facts
- Finance of America Companies Inc. (FOA) reported $730 million in reverse mortgage and home equity funding volume for Q2 2026.
- This volume marks a 21% increase compared to $602 million in the same period of 2025.
- The company incurred a net loss of $29 million for the quarter, attributed to non-cash fair value adjustments.
- Adjusted net income was $19 million, showing a 53% year-over-year increase.
- The retirement solutions segment saw revenue rise 19% to $74 million.
- FOA acquired Onity Mortgage Corp.'s servicing portfolio of Home Equity Conversion Mortgages.
Finance of America Companies Inc. (FOA) reported a 21% year-over-year increase in reverse mortgage and home equity funding volume for the second quarter of 2026, reaching $730 million. This growth occurred despite a net loss of $29 million for the period, primarily driven by non-cash fair value adjustments in its portfolio business.
The company's retirement solutions segment, which focuses on reverse mortgages, saw its funded volume rise to $730 million, a 21% increase from the prior year. Revenue in this segment grew 19% to $74 million, with pretax income holding steady at $10 million and adjusted net income at $15 million.
In contrast, the portfolio management segment experienced a pretax loss of $26 million, a significant swing from a profit in the previous year, due to negative non-cash fair value adjustments on retained interests in securitizations. However, year-to-date adjusted net income for this segment improved by 24% to $46 million.
CEO Graham Fleming highlighted operational improvements and investments translating into a stronger business, citing increased demand and productivity. The company also recently acquired Onity Mortgage Corp.'s servicing portfolio of Home Equity Conversion Mortgages, which closed on July 1, adding servicing assets and personnel.
Total assets for Finance of America increased 24% year over year to $37.3 billion, with securitized loans held for investment rising 25% to $36 billion. Total equity stood at $407 million, down from the previous year, with equity attributable to common stock at $297 million.