Finance of America Companies Inc. Announces Tai Thornock's Sale of 1100 Shares

Finance of America Companies Inc. (FOA) has disclosed that Chief Accounting Officer Tai A. Thornock has recently sold 1,100 shares at a price of $25.87 per share on September 16, 2025.

Finance of America Companies Inc. (FOA) recently disclosed that Chief Accounting Officer Tai A. Thornock sold 1,100 shares at a price of $25.87 per share on September 16, 2025. This transaction comes amidst the company's strong financial performance reported for the second quarter of 2025.

In the second quarter, FOA reported a funded volume of $602 million, growing 35% year-over-year (YoY) and beating its own guidance of $575-600 million. The growth was primarily driven by the HomeSafe Second product, which saw a surge in submissions of almost 23% sequentially Finance of America: Near-Term Expectations Need Moderation, Long-Term Outlook Hard To Ignore^[1]. The company's wholesale channel also delivered remarkable ~55% growth in 2Q25 YoY, primarily driven by the strength of the third-party originator network.

On the expense front, total expenses increased by ~14% YoY to $95 million, while total revenue grew by a remarkable 124% to $177 million. This resulted in a significant improvement in basic earnings per share (EPS) from a loss of $0.20 in 2Q24 to a $3.16 gain in 2Q25. The company's tangible equity also grew by 47% QoQ to $275 million.

Looking ahead, FOA has reaffirmed its funded volume guidance for 2025, ranging from $2.4 billion to $2.7 billion. Given the company's history of beating guidance, it is reasonable to expect a solid performance in the remaining quarters of the year. However, the margin of beat has been shrinking, suggesting that large surprises may become less frequent going forward.

The company's long-term outlook remains positive, with the US demographic shift favoring the reverse mortgage market. The market penetration of reverse mortgages stands at just 2%, indicating significant growth potential for FOA.

Valuation-wise, FOA is trading at a forward non-GAAP PE ratio of 8.7x-10x, making it an attractive investment opportunity, especially considering its industry leadership and underpenetrated market.

In conclusion, while near-term expectations should be moderated, FOA's long-term prospects and valuation make it an appealing investment. The recent share sale by the Chief Accounting Officer, while notable, should not significantly impact the company's outlook.