Key facts
- Finance of America (FOA) is a leading reverse mortgage lender, ranking second nationally for HECM endorsements last year and first in the first six months of 2026.
- CEO Graham Fleming emphasized consumer choice between HECM and proprietary loan products, including second-lien reverse mortgages.
- FOA is expanding its HomeSafe Second product and investing in marketing to boost product awareness.
- The company partnered with Better to offer HELOCs to seniors and is working to expand proprietary reverse mortgage access nationwide.
- Blue Owl Capital committed $50 million in equity to FOA and agreed to acquire $2.5 billion of whole loan product.
Finance of America (FOA) remains a prominent player in the reverse mortgage sector, holding the second position nationally for Home Equity Conversion Mortgage (HECM) endorsements last year and leading the HECM leaderboard in the first half of 2026 with nearly 2,500 endorsements.
CEO Graham Fleming, who has been with the company for nearly 13 years and took the helm in 2023, discussed FOA's strategy of offering consumer choice between HECM and proprietary loan products. He noted that while HECM production has seen fluctuations, FOA's proprietary products, launched in 2019, provide an alternative. Fleming highlighted the significant value of second-lien reverse mortgages, which allow homeowners to retain their low-rate first-lien mortgages while accessing home equity. FOA recently expanded its HomeSafe Second product into four new states.
Fleming also addressed the need for increased market awareness and education surrounding reverse mortgages, both for consumers and forward mortgage professionals. FOA is investing in marketing across various channels to dispel myths and position reverse mortgages as a key retirement planning tool. The company has also partnered with Better to offer home equity lines of credit (HELOCs) to seniors and is actively working with state regulators to broaden access to proprietary reverse mortgages nationwide.
Financially, FOA secured a $50 million equity commitment from Blue Owl Capital, which also committed to acquiring $2.5 billion of whole loan product from FOA. Fleming expressed satisfaction with Blue Owl as an equity partner, viewing it as a positive signal of interest in the reverse mortgage segment.