Finance Of America Cos

Finance of America Cos. Inc. engages in the provision of mortgage loans, reverse mortgage loans, and business purpose loans to residential real estate investors. It offers a vertically integrated lending and services platform that connects borrowers with investors. The company was founded on October 9, 2020 and is headquartered in Plano, TX.

Earnings data Q1 2021

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Earnings data Q1 2022

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Finance of America reports Q4 loss, eyes growth in reverse mortgages

Finance of America reported a net loss in Q4 2022, driven by wind down and operating losses, but made strategic decisions to focus on high-growth areas like Reverse mortgages.
The acquisition of AAG positions the company as the largest reverse originator, with steps taken to strengthen the balance sheet and anticipate improved performance in 2023.
While near-term volatility is expected due to recent transformations, Finance of America's focus on growth areas and balance sheet enhancements signal a commitment to long-term success.

Finance Of America reports Q1 progress amidst challenges and opportunities

Finance Of America's Q1 2023 earnings call highlighted progress, challenges, and opportunities for the company.
Management's focus on core businesses and long-term earnings power instills confidence in stakeholders.
Analysts' inquiries into competition, profitability, and restructuring reflect market interest in the company's performance.
Overall, Finance Of America's strategic direction and financial improvements position it for future growth and success.

Finance of America reports Q2 losses but eyes growth opportunities

Finance of America's Q2 performance reflects challenges from market impacts but also strengths in strategic actions and growth potential in modern retirement solutions.
Efforts to streamline operations, reduce expenses, and leverage home equity present opportunities for long-term financial stability and earnings growth.
Despite challenges in Q2, the company's focus on integration, cost savings, and market leadership positions it well for future success in addressing the retirement savings gap.

Finance of America reports Q3 losses but eyes strategic growth

Finance of America faced challenges in Q3 with a net loss, but remains optimistic about future success amidst macro headwinds.
Strategic actions to enhance revenue and cost reduction efforts have positioned the company for long-term growth and efficiency.
Opportunities lie in expanding product offerings, improving customer experience, and leveraging a customer-centric approach for sustained success.

Finance of America reports Q4 results, targets growth and profitability

Finance of America's Q4 performance showed mixed results with improved margins and reduced expenses. The company is focused on growth, profitability, and integrating home equity into retirement planning. Analyst questions and concerns were addressed during the call.

Finance of America reports improved Q1 performance and eyes growth opportunities

Finance of America is on track towards sustained profitability, with executives expressing confidence in the company's trajectory. The company is modernizing its operations, focusing on digital capabilities, and targeting growth in origination volumes for the upcoming quarters.

Finance Of America Cos reports positive Q2 performance and growth outlook

FOA's Q2 performance reflects positive trends in adjusted EBITDA and revenue growth.
The company's strengths include improved fundamentals, strategic initiatives, and growth outlook.
Challenges in managing expenses and maximizing profitability require focused attention.
Opportunities in leveraging programs, strategic growth initiatives, and market expansion are key.

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NEW YORK , March 14, 2023 /PRNewswire/ -- Roc Capital Holdings LLC ("Roc360"), a vertically integrated platform for residential real estate investors and a leading originator of business purpose loans nationwide, today announced it has closed on the previously announced transaction for Finance of America Commercial ("FACo") assets. Founded in 2014, Roc360 has funded in excess of $14 billion in loans through its lending subsidiaries.

Roc360 Expands its Leading Portfolio of Brands with Acquisition of Finance of America Commercial Through Asset Sale

Finance of America Companies, Inc. (NYSE:FOA ) Q4 2022 Earnings Conference Call March 13, 2023 5:00 PM ET Company Participants Michael Fant - SVP, Finance Graham Fleming - President and Interim CEO Johan Gericke - CFO Conference Call Participants Stephen Laws - Raymond James Operator Hello and welcome to the Finance of America Fourth Quarter 2022 Earnings Call. My name is John and I'll be coordinating your call today.

Finance of America Companies, Inc. (FOA) Q4 2022 Earnings Call Transcript

Finance of America Companies Inc. (FOA) delivered earnings and revenue surprises of -400% and 33.04%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Finance of America Companies Inc. (FOA) Reports Q4 Loss, Misses Revenue Estimates

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc., (“Finance of America” or the “Company”) (NYSE: FOA), a leading specialty finance and solutions platform, reported financial results for the quarter and year ended December 31, 2022. Full Year 2022 Financial Highlights For the full year 2022, the Company recognized a net loss of $716 million or $3.06 basic loss per share. The Company recognized an adjusted net loss of $61 million.

Finance of America Reports Fourth Quarter and Full Year 2022 Results

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc. (“Finance of America”) (NYSE: FOA), a leading specialty finance solutions platform, today announced that it will release results for the fourth quarter and full year ended December 31, 2022 after market closing on Monday, March 13, 2023.

Finance of America Announces Fourth Quarter and Full Year 2022 Earnings Release and Conference Call on March 13, 2023

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc. (NYSE: FOA) (“FOA” or the “Company”), a leading specialty finance and solutions platform, issued the following statement today from FOA Interim Chief Executive Officer Graham A.

Finance of America Issues Statement on the Proposed Sale of Commercial Lending Business

Essent Group

PLANO, Texas--( BUSINESS WIRE )--Finance of America Companies Inc. (NYSE: FOA) (“FOA” or the “Company”), a leading specialty finance and solutions platform, issued the following statement today from FOA Interim Chief Executive Officer Graham A. Fleming regarding the entry into an agreement for the sale of the title insurance business of Incenter, an FOA subsidiary, to a wholly owned subsidiary of Essent Group Ltd. (NYSE: ESNT):

Finance of America Issues Statement on the Proposed Sale of Incenter's Title Insurance Business

HAMILTON, Bermuda--( BUSINESS WIRE )--Essent Group Ltd. (NYSE: ESNT) announced today that it has entered into an agreement through its subsidiary Essent US Holdings, Inc. to acquire Agents National Title Holding Company (“Agents National Title”) and Boston National Holdings LLC (“Boston National Title”) from Incenter LLC, a subsidiary of Finance of America Companies Inc. (NYSE:FOA) for $100 million.

Essent Enters into Agreement to Acquire Title Insurance Operations

SAN DIEGO--( BUSINESS WIRE )--Millions of older Americans have, in recent years, secured or refinanced their mortgages into record-low interest rates compared to today's higher rates. Many of these homeowners are also seeking ways to access the equity from significant home-price appreciation to supplement their cash flow needs, pay off high-interest bills, or make upgrades to their homes. Recognizing this growing, largely unmet need for pre-retirees and retirees seeking flexibility, leading retirement mortgage solutions innovator Finance of America Reverse (“FAR”) today announced the launch of an enhanced version of HomeSafe Second.

FAR Launches HomeSafe Second: The Only Second-Lien Reverse Mortgage Product Empowering Older Americans to Tap Home Equity Without Making Monthly Payments

PLANO, Texas--( BUSINESS WIRE )--Finance of America Companies Inc. (NYSE: FOA) (“FOA” or the “Company”), a leading specialty finance and solutions platform, today announced it will acquire assets of American Advisors Group (“AAG”), a leading direct-to-consumer reverse mortgage lender, in exchange for a combination of cash and equity. The transaction underscores FOA's commitment to invest in businesses that have strong growth potential with structural and demographic tailwinds.

Finance of America to Acquire Assets of Reverse Mortgage Lender AAG

Finance of America Companies, Inc. (NYSE:FOA ) Q3 2022 Earnings Conference Call November 9, 2022 8:00 AM ET Company Participants Michael Fant - Senior Vice President, Finance Graham Fleming - President and Interim Chief Executive Officer Johan Gericke - Chief Financial Officer Conference Call Participants Stephen Laws - Raymond James Doug Harter - Credit Suisse James Faucette - Morgan Stanley Operator Welcome to the Finance of America Third Quarter 2022 Earnings Call. My name is Harry and I'll be coordinating your cal today.

Finance of America Companies, Inc. (FOA) Q3 2022 Earnings Call Transcript

Finance of America Companies Inc. (FOA) delivered earnings and revenue surprises of -66.67% and 68.32%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Finance of America Companies Inc. (FOA) Reports Q3 Loss, Misses Revenue Estimates

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc., (“Finance of America” or the “Company”) (NYSE: FOA), a customer focused, consumer and specialty lending business, reported financial results for the quarter ended September 30, 2022.

Finance of America Reports Third Quarter 2022 Results

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc. (“Finance of America”) (NYSE: FOA), a leading specialty finance solutions platform, today announced that it will release results for the third quarter ended September 30, 2022 before market opening on Wednesday, November 9, 2022.

Finance of America Announces Third Quarter 2022 Earnings Release and Conference Call on November 9, 2022

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc. (NYSE: FOA) (the “Company” or “FOA”), a leading specialty finance solutions platform, today announced its decision to discontinue the operations of its forward mortgage originations segment across both retail and wholesale channels by the end of the year.

Finance of America Sharpens Focus on Specialty Finance and Services Business, Plans to Discontinue Forward Mortgage Originations

SAN DIEGO--(BUSINESS WIRE)--Finance of America Reverse (FAR), a leading retirement mortgage solutions innovator, today announced an agreement with Morningstar, Inc., a leading provider of independent investment research, to become its first reverse mortgage education provider.

Finance of America Reverse and Morningstar Collaborate to Educate Financial Advisors about Reverse Mortgages

SAN DIEGO--(BUSINESS WIRE)--Retirement solutions leader Finance of America Reverse (FAR) today announced the release of “Disconnected: Perceptions vs. Reality in Retirement Planning,” a new study from the Stanford Center on Longevity (SCL) that examines the challenges and concerns facing retirees and pre-retirees as they plan for retirement. The report also suggests messages and interventions that practitioners and researchers can use to help anticipate and address these challenges. The study w

Majority of Retirees and Pre-Retirees Lack Sufficient Savings to Retire by Age 65, According to New Research from The Stanford Center on Longevity and FAR

Finance of America Companies, Inc. (NYSE:FOA ) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Michael Fant - Senior Vice President, Finance Graham Fleming - President and Interim Chief Executive Officer Johan Gericke - Chief Financial Officer Conference Call Participants Operator Good afternoon. My name is Chelsea, and I will be your conference operator today.

Finance of America Companies, Inc. (FOA) Management on Q2 2022 Results - Earnings Call Transcript

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc., (“Finance of America” or the “Company”) (NYSE: FOA), a customer focused, consumer and specialty lending business, reported financial results for the quarter ended June 30, 2022. Second Quarter 2022 Financial Highlights For the second quarter of 2022, the Company recognized a net loss of $168 million or $0.65 per basic share and $0.70 of diluted EPS. Net loss includes negative changes in fair value of long-term assets and liabilit

Finance of America Reports Second Quarter 2022 Results

SAN DIEGO--(BUSINESS WIRE)--Finance of America Reverse LLC (FAR), a leading retirement solutions innovator and part of Finance of America Companies (NYSE: FOA), today announced the publication of its first-ever Home Equity Punch List. FAR commissioned The Harris Poll to survey 2,000 U.S. homeowners 18 and older who live in the United States to obtain an understanding of home equity and its potential uses, as well as if and how home equity can fit into homeowners' long-term financial goals. FAR

Older Homeowners Least Likely Cohort to Consider Tapping into Home Equity Despite Record Property Values, According to New Research from FAR

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc. (“Finance of America”) (NYSE: FOA), a customer focused, consumer and specialty lending business, today announced that it will release results for the second quarter ended June 30, 2022 after market closing on Thursday, August 4, 2022. Webcast and Earnings Conference Call Management will host a webcast and conference call on Thursday, August 4, 2022 at 5:00 pm Eastern Time to discuss the Company's results for the first quarter ende

Finance of America Announces Second Quarter 2022 Earnings Release and Conference Call on August 4, 2022

SAN DIEGO--(BUSINESS WIRE)--Finance of America Reverse (FAR), a leading retirement solutions innovator, is proud to announce that it has been Certified™ by Great Place to Work® for the second year in a row. The prestigious award, which distinguishes FAR for the June 2022 to June 2023 period, is based entirely on what current employees say about their experience within FAR's welcoming, empowering, and innovative culture. This year, 92% of employees said FAR is a great place to work—33 points hig

Finance of America Reverse Earns Second Consecutive ‘Great Place to Work' Certification™

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc. (NYSE: FOA) (the “Company”), a high growth consumer lending and services platform, today announced that Patricia L. Cook has informed the Board of Directors that she will step down from her role as Chief Executive Officer on June 30, 2022 to focus on her health as she attends to an existing medical condition. In February 2022, Ms. Cook announced her plans to retire while remaining with the Company until her replacement was identif

Finance of America Companies Chief Executive Officer Patricia L. Cook to Retire on June 30

Finance Of America Companies, Inc. (NYSE:FOA ) Q1 2022 Earnings Conference Call May 9, 2022 5:00 PM ET Company Participants Patty Cook – Chief Executive Officer Michael Fant – Senior Vice President of Finance Johan Gericke – Chief Financial Officer Conference Call Participants Douglas Harter – Credit Suisse Steven Laws – Raymond James Blake Netter – Morgan Stanley Operator Good afternoon. Thank you for attending today's Finance of America First-Quarter 2022 earnings call.

Finance Of America Companies, Inc. (FOA) CEO Patty Cook on Q1 2022 Results - Earnings Call Transcript

PLANO, Texas--(BUSINESS WIRE)--Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a high growth, consumer and specialty lending business, reported financial results for the quarter ended March 31, 2022. First Quarter 2022 Financial Highlights For the first quarter of 2022, the Company recognized a net loss of $(64) million or $(0.14) per basic share and $(0.30) of diluted EPS. Net loss includes negative changes in fair value* of $96 million, predominantly due

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