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FOA narrows losses, touts dominance of reverse mortgage market

Finance of America Companies (FOA), parent of leading reverse mortgage lender Finance of America Reverse (FAR), narrowed its quarterly loss to $20 million and posted an overall improvement in its earnings to $164.7 million in fourth-quarter 2023.

The fourth-quarter loss was down from the $25 million in losses posted in Q3 2023, FOA reported during an earnings call on Wednesday.

The company also touted its dominance in Home Equity Conversion Mortgages (HECMs) and proprietary reverse mortgages, noting its 37% share of the total market while expressing a goal of doubling its monthly loan origination details ⇒

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