{"id":63718,"date":"2026-08-05T03:00:40","date_gmt":"2026-08-05T01:00:40","guid":{"rendered":"https:\/\/housesmarketplace.com\/finance-of-america-grows-reverse-mortgage-volume-despite-q2-net-loss-of-29m\/"},"modified":"2026-08-05T03:00:40","modified_gmt":"2026-08-05T01:00:40","slug":"finance-of-america-grows-reverse-mortgage-volume-despite-q2-net-loss-of-29m","status":"publish","type":"post","link":"https:\/\/housesmarketplace.com\/ru\/finance-of-america-grows-reverse-mortgage-volume-despite-q2-net-loss-of-29m\/","title":{"rendered":"Finance of America grows reverse mortgage volume despite Q2 net loss of $29M"},"content":{"rendered":"
\n

Finance of America Companies Inc.<\/strong> (FOA) grew its \u043e\u0431\u0440\u0430\u0442\u043d\u0430\u044f \u0438\u043f\u043e\u0442\u0435\u043a\u0430<\/a> \u0438 \u0441\u043e\u0431\u0441\u0442\u0432\u0435\u043d\u043d\u044b\u0439 \u043a\u0430\u043f\u0438\u0442\u0430\u043b<\/a> funding volume 21% year over year in the second quarter of 2026, even as non-cash fair value marks in its portfolio business drove a net loss of $29 million from April through June.<\/p>\n

The Texas-based lender on Tuesday reported $730 million in funded volume for the quarter ending June 30, up from $602 million during the same period in 2025, according to the company\u2019s \u0437\u0430\u0440\u0430\u0431\u043e\u0442\u043e\u043a<\/a> release. First-half 2026 volume reached $1.33 billion, up 14% from $1.16 billion in H1 2025.<\/p>\n

\u0424\u041e\u0410<\/a> reported $0.10 in basic earnings per share, or $1 million in net income attributable to Class A common shareholders for the quarter. On a diluted basis, the company posted a loss of $1.28 per share, or a $29 million net loss for the period, reflecting the impact of non-cash fair value adjustments in its portfolio.<\/p>\n

On an adjusted basis, the company reported $0.84 in earnings per share, or $19 million in adjusted net income, a 53% year-over-year improvement. Adjusted EBITDA totaled $35 million for the quarter and $79 million for the first half of 2026.<\/p>\n

\u201cThe second quarter of 2026 reinforced what we\u2019ve been communicating over the past several quarters: that the operational improvements and investments we have made are now translating into a stronger, more scalable business,\u201d CEO \u0413\u0440\u044d\u043c \u0424\u043b\u0435\u043c\u0438\u043d\u0433<\/a> said in a statement. He cited strengthening demand, improved conversion and sales productivity, and growth in proprietary products serving older homeowners.<\/p>\n

Performance by segment<\/h2>\n

FOA\u2019s retirement solutions<\/a> segment, which originates reverse mortgages and other home equity products, continued to drive growth. Second-quarter funded volume in the segment rose 21% year over year to $730 million.<\/p>\n

Total revenue in retirement solutions increased 19% from a year earlier to $74 million, with revenue margins holding near 10.1%, the company reported. Pretax income for the segment was $10 million for the quarter, flat compared to a year earlier, while adjusted net income was $15 million, also in line with Q2 2025.<\/p>\n

For the first half of 2026, the segment\u2019s pretax income grew 43% year over year to $20 million, while adjusted net income increased 21% to $29 million.<\/p>\n

The company\u2019s portfolio management segment \u2014 which earns net interest income and fair value changes on portfolio assets including securitized<\/a> reverse mortgage collateral \u2014 reported a sharp swing driven by valuation marks. The pretax loss was $26 million in Q2 2026, compared with a profit of $108 million in Q2 2025 and a $36 million profit in Q1 2026.<\/p>\n

The company attributed the segment\u2019s quarterly loss primarily to negative non-cash fair value adjustments on retained interests in securitizations, which were partially offset by higher accreted yield on residual interests.<\/p>\n

Despite the quarterly loss, year-to-date adjusted net income in portfolio management improved 24% to $46 million, up from $37 million in the first half of 2025. Total segment revenue for the quarter fell to $1 million, compared to $130 million in Q2 2025.<\/p>\n

Balance-sheet and servicing growth<\/h2>\n

As of June 30, Finance of America reported $85 million in cash and cash equivalents, up 85% from $46 million a year earlier but down from $108 million at the end of March. The company said strong cash generation from originations and capital markets activities funded most of its recently completed acquisition<\/a> \u0438\u0437 Onity Mortgage Corp.<\/strong>\u2018s servicing portfolio of Home Equity Conversion Mortgages (HECMs).<\/p>\n

Total assets rose 24% year over year to $37.3 billion, driven largely by securitized loans held for investment tied to HECM and other nonrecourse obligations, which increased 25% to $36 billion. Assets under management in the portfolio management segment climbed 24% year over year to $37 billion.<\/p>\n

Total equity stood at $407 million at the end of Q2 2026, down from $473 million a year earlier. Equity attributable to common stock was $297 million, equating to book value of $33.20 per common share. Tangible equity totaled $246 million, or $13.31 per share, the company said.<\/p>\n

Leaders on Onity asset purchase, overall performance<\/h2>\n

During a Q&A segment at the end of Tuesday\u2019s earnings call, company leaders offered insights into the acquisition of HECM assets and reverse mortgage personnel from Onity, which closed July 1.<\/p>\n

\u201cPerhaps the clearest demonstration of our execution this quarter was the strength of our cash generation, allowing us to invest in strategic growth and strengthen the balance sheet,\u201d Fleming said. \u201cThe Onity transaction \u2026 represents more than the acquisition of \u043e\u0431\u0441\u043b\u0443\u0436\u0438\u0432\u0430\u043d\u0438\u0435<\/a> assets. It diversifies our servicing footprint, broadens the population of homeowners we can serve, and creates additional opportunities to introduce our proprietary solutions.<\/a>\u00ab<\/p>\n

Fleming \u0440\u0430\u043d\u0435\u0435 \u0431\u044b\u043b\u043e \u0441\u043a\u0430\u0437\u0430\u043d\u043e<\/a> \u0416\u0438\u043b\u044c\u0435\u041f\u0440\u043e\u0432\u043e\u043b\u043e\u043a\u0430<\/strong>\u2018s Reverse Mortgage Daily that the transaction included 13 staff members from Onity across originations and operations. He told investors and analysts during Tuesday\u2019s earnings call that the assets had a book value of about $70 million and \u201cwe\u2019ll expect to earn yields in the mid-teens.\u201d<\/p>\n

\u201cWe hired about 13 people \u2014 originators and operations staff \u2014 from Onity into FOA as part of this transaction,\u201d Fleming said. \u201cWe\u2019ve diversified our subservicing platform with\u00a0\u0421\u0435\u043b\u0438\u043d\u043a<\/strong><\/a>\u00a0and now Onity, which we think is good for FOA and good for the industry. We\u2019ll be able to come up with best-in-class service across both agreements, which will be good for consumers.\u201d<\/p>\n

\u041f\u0440\u0435\u0437\u0438\u0434\u0435\u043d\u0442 \u0424\u041e\u0410 \u041a\u0440\u0438\u0441\u0442\u0435\u043d \u0421\u0438\u0444\u0444\u0435\u0440\u0442<\/a> also weighed in on the growing opportunity to serve senior homeowners across the country, who not only are sitting on nearly $15 trillion in equity<\/a> but also represent the majority of today\u2019s buyers and sellers.<\/p>\n

\u201cLast quarter, I said we were reaching an inflection point in the platform. The second quarter gives us greater confidence in that view,\u201d Sieffert said. \u201cHistorically, growth depended more heavily on generating additional top-of-funnel opportunities. Now we\u2019re demonstrating our ability to generate more production<\/a> from the pipeline we already have.\u201d<\/p>\n

She also touched on the rising demand for private-label reverse mortgages and the implications for secondary market investors.<\/p>\n

\u201cWe\u2019ve seen growing demand for proprietary products recently, mostly as a function of the proprietary products offering better cash flow to the consumer. \u2026 Whatever is best suited for the customer is where that demand lands, and right now that\u2019s with the proprietary channel,\u201d Sieffert said.<\/p>\n

\u201cThe market opportunity ahead of us is still large and underpenetrated, but the real story this quarter is conviction. We\u2019re building a stronger, more valuable business, not simply a bigger one.\u201d<\/p>\n

This article was written by Neil Pierson and generated with the assistance of HousingWire Automation, then reviewed by a HousingWire editor before publication.<\/em><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Finance of America Companies Inc. (FOA) grew its reverse mortgage and home equity funding volume 21% year over year in the second quarter of 2026, even as non-cash fair value marks in its portfolio business drove a net loss of $29 million from April through June. The Texas-based lender on Tuesday reported $730 million in […]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-63718","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nFinance of America grows reverse mortgage volume despite Q2 net loss of $29M - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.com\/ru\/finance-of-america-grows-reverse-mortgage-volume-despite-q2-net-loss-of-29m\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance of America grows reverse mortgage volume despite Q2 net loss of $29M\" \/>\n<meta property=\"og:description\" content=\"Finance of America Companies Inc. 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