Finance of America Reveals Financial Losses in 2022

March 14, 2023

Mortgage Professional America, Mar. 14, 2023–Candyd Mendoza
The reverse mortgage lender reported a net loss of $716 million ($3.06 per share) and recognized an adjusted net loss of $61 million in 2022. Finance of America attributed the net loss to the operational losses associated with its mortgage originations, commercial originations, and lender services segments. FoA plans to discontinue or divest these segments by the end of Q2 2023.
https://www.mpamag.com/us/specialty/reverse/finance-of-america-reveals-financial-losses-in-2022/439433