Finance Of America Companies Reports Financed Volume in 1Q 2021 of $ 9.5 billion

Finance Of America Companies Reports Financed Volume in 1Q 2021 of $ 9.5 billion

‍Click here to read more from FOA’s 1Q 2021 results. FOA reverse originations funded volume increased to $769 million, up 17% year-over-year. This marked the second-highest quarterly volume for the reverse segment, according to the company’s report.

Source nationalmortgageprofessional.com “Finance of America continued to deliver strong results across key performance metrics in the first quarter, further reinforcing the strength of our diversified and differentiated platform,” stated Patricia Cook, CEO. “Since inception, we built our business model to withstand uncertain and volatile market conditions. In addition, Finance of America is structured to thrive and quickly pivot to capitalize on market opportunities as these arise. To this point, our Reverse Originations business delivered near-record volumes and strong growth during the quarter despite the rise in interest rates. In addition, we closed on the acquisition of Renovate America and launched our EquityAvail product to further bolster our home improvement financing and reverse mortgage capabilities.

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