Finance of America grows reverse mortgage volume despite Q2 net loss of $29M

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 funded volume for the quarter ending June 30, up from $602 million during the same period in 2025, according to the company’s earnings release. First-half 2026 volume reached $1.33 billion, up 14% from $1.16 billion in H1 2025.FOA 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. 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. “The second quarter of 2026 reinforced what we’ve been communicating over the past several...