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Finance of America posts a profit in Q1 2025
- One of the nation's leading reverse mortgage lenders posted positive financial results in Q1 2025, leading to a rise in its share price.
In the first quarter of 2025, Finance of America Companies (FOA) reported a net loss of $13 million, a significant improvement from the $49 million loss in the same period the previous year, as detailed in their earnings report. CEO Graham Fleming highlighted the company's focus on enhancing operational efficiency and strengthening its financial position, which included reducing debt by $125 million. FOA's revenue for the quarter stood at $27 million, down from $35 million in Q1 2024, attributed to a challenging market environment. Despite the revenue decline, Fleming expressed optimism about the company's strategic initiatives, particularly in the reverse mortgage sector, and emphasized ongoing efforts to adapt to market conditions and drive long-term growth.
Read the Full HousingWire Article at:
[ [ https://www.housingwire.com/articles/finance-of-america-q1-2025-earnings-graham-fleming/ ] ]
Read the Full HousingWire Article at:
[ [ https://www.housingwire.com/articles/finance-of-america-q1-2025-earnings-graham-fleming/ ] ]
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