Finance Of America Companies Inc Stock Price, News & Analysis

Finance of America (NYSE: FOA) has launched a new brand platform 'A Better Way with FOA' alongside a national advertising campaign targeting homeowners aged 55 and above. The campaign aims to position reverse mortgages as competitive alternatives to traditional home equity solutions.

The initiative features TV spots and digital ads nationwide, representing a strategic shift in the company's marketing approach. The campaign highlights how borrowers can leverage home equity for retirement goals, particularly relevant as over 50% of senior homeowners' wealth is tied to home equity.

The ads showcase real-life scenarios, including a story about a 'Sandwich Generation' family using a reverse mortgage to renovate their home for aging parents while creating a music studio. The campaign, developed with creative agency David&Goliath, employs multiple channels including television, social media, and out-of-home placements to reach modern consumers.

David&Goliath (D&G), an integrated creative agency, has been appointed as the Creative Agency of Record (AOR) for Finance of America (FOA), a leading provider of home equity-based financing solutions for retirement. D&G's responsibilities will include business and brand strategy, creative development, and ongoing thought leadership.

The new collaboration aims to educate homeowners aged 55+ on the importance of home equity in retirement and revolutionize the reverse mortgage category. The first campaign is set to launch in Q2 2025 and will focus on repositioning the FOA brand to highlight its innovative solutions for unlocking housing wealth.

Chris Moschner, FOA's Chief Marketing Officer, emphasized the need for modern solutions and messaging to break the reverse mortgage adoption barrier. The new brand platform developed by D&G is expected to catalyze growth in the reverse mortgage sector.

David&Goliath, founded in 1999, is known for its purpose-driven creativity and has received multiple accolades for its impactful work.

Finance of America (NYSE: FOA) has promoted Jonathan Scarpati to the position of Chief Production Officer, a strategic move aimed at strengthening the company's leadership in home equity-based financing solutions. Scarpati, previously Senior Vice President of Wholesale Production, will now oversee both wholesale and retail production operations.

Under Scarpati's previous leadership, the wholesale team has maintained its position as one of the top producing wholesale originators in the reverse mortgage industry. With 15 years at Finance of America and current service on the Board of Directors for the National Reverse Mortgage Association, Scarpati brings extensive industry experience to the role.

This appointment follows recent additions of a Chief Information Officer, Chief Customer Officer, and two new Board of Directors members, aligning with the company's expansion and long-term growth strategy in making home equity for retirement a mainstream solution.

Finance of America Companies (NYSE: FOA) has announced two strategic appointments to its Board of Directors. Andrew Essex, former CEO of advertising agency Droga5, and former U.S. Senator Cory Gardner have joined the board, bringing expertise in marketing and public policy respectively.

Essex, recognized for his leadership in marketing and brand strategy, brings decades of experience in media, communications, and corporate storytelling. His expertise will support FOA's mission to educate and empower retirees. Gardner, who served as a U.S. Senator from Colorado (2015-2021), contributes extensive experience in legislative affairs, financial services, and regulatory policy.

Chairman and Founder Brian Libman emphasized that these appointments will strengthen FOA's position in providing financial solutions for older Americans, particularly in marketing innovation and public policy navigation.

Finance of America (NYSE: FOA) reported strong financial results for Q4 and full year 2024, marking a return to profitability. The company achieved $40 million in net income from continuing operations ($1.78 basic EPS) and $14 million in adjusted net income ($0.60 adjusted EPS) for the year.

Key highlights include:

• Adjusted EBITDA of $60 million for the year
• Reverse mortgage funded volume increased 19% with $534 million in Q4 production
• Total equity grew from $272 million to $316 million
• Tangible net worth improved 421% from $19 million to $99 million

The Retirement Solutions segment posted pre-tax income of $11 million and adjusted net income of $38 million, with total revenue increasing 38% year-over-year. The Portfolio Management segment achieved pre-tax income of $84 million and adjusted net income of $42 million in 2024.

Finance of America (NYSE: FOA) has announced two strategic executive appointments to drive digital transformation in its reverse mortgage business. Brian Conneen joins as Chief Information Officer, bringing extensive fintech experience from Best Egg where he helped scale operations to serve over two million customers. Karime Benaissa takes the role of Chief Customer Officer, leveraging his digital operations expertise from Amazon, Petco, and Neiman Marcus.

The appointments align with FOA's strategy to modernize the reverse mortgage market through technological innovation. Conneen will focus on implementing scalable solutions for consumers and lender partners, while Benaissa will lead a comprehensive digital transformation to improve customer experience for older homeowners seeking financial flexibility.

Finance of America (NYSE: FOA), a leading provider of home equity-based financing solutions for modern retirement, has scheduled its Fourth Quarter and Full Year 2024 earnings release for March 11, 2025, after market close.

The company will host a webcast and conference call at 5:00 pm Eastern Time on the same day to discuss the results. Management will make available the press release and investor presentation under the 'Investors' section of the company website prior to the call.

Investors can access the audio webcast through the company's website or join via phone using the following dial-in numbers:

• Domestic: 1-800-715-9871
• International: 1-646-307-1963
• Conference ID: 5706924

Horizon Media Holdings has appointed Bob Lord as its first President, reporting to CEO Bill Koenigsberg. Lord brings over three decades of experience in marketing, media, and technology, including roles as IBM's first Chief Digital Officer and AOL's President. In his new role, Lord will oversee the company's diversified businesses, focusing on integrating advanced technologies and leading international strategy.

Lord's previous achievements include revolutionizing IBM's go-to-market strategy, launching the Call for Code initiative, and leading The Weather Company. At AOL, he developed a leading programmatic media platform, and as Global CEO of Razorfish, he oversaw its transformation into a digital marketing leader.

The appointment aligns with Horizon's focus on enterprise innovation and technology transformation. Lord currently serves on several boards, including Integral Ad Science (IAS) and Finance of America, and is an Executive Fellow at Harvard Business School.

Finance of America (NYSE: FOA) reported strong Q3 2024 results with net income from continuing operations of $204 million or $8.48 basic earnings per share. The company achieved adjusted net income of $15 million ($0.67 per share) and adjusted EBITDA of $32 million. Total funded volume increased 15% quarter-over-quarter to $513 million. Book equity rose to $456 million ($20 per diluted share). The company completed a reverse stock split in July 2024 to maintain NYSE compliance and successfully closed an exchange offer with nearly 98% participation from senior unsecured note holders.