Industry-leading reverse mortgage lender Finance of America (FOA) recorded another loss in the second quarter of 2024, but it managed to move closer to profitability while also expanding its dollar volume of loans through other business metrics that show improvement.

This is according to the company’s Q2 2024 financial results, as well as statements given to analysts, during a Q&A portion of its earnings call this week.

Overall financial performance

FOA’s funded loan volume increased to $447 million in Q2, up from $424 million in Q1 2024, a 5% quarterly improvement but roughly the same as one year ago. Year to details ⇒

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