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Finance of America reverse mortgage volume jumps despite GAAP loss
Q2 2026 funded volume rose to $730 million, up 21% year over year, but a $29 million GAAP loss was driven by non-cash fair value adjustments.
HousingWire reports Finance of America Companies Inc. (FOA) grew its reverse mortgage and home equity funded volume in the second quarter of 2026, even as it posted a GAAP net loss for the period.
For the quarter ended June 30, the company reported $730 million in total funded volume, up from $602 million in the same quarter of 2025. First-half 2026 volume was $1.33 billion, up 14% from $1.16 billion in H1 2025.
FOA’s results reflected profitability gains alongside portfolio accounting swings. The company posted $1 million in basic net income, but a diluted GAAP net loss of $29 million, largely tied to non-cash fair value adjustments in its portfolio management segment.
In its retirement solutions segment, which focuses on reverse mortgages and home equity products, funded volume rose 21% year over year to $730 million. The segment’s total revenue increased 19% to $74 million, with revenue margins near 10.1%, while adjusted net income was $15 million, in line with Q2 2025.