Finance of America reports $80M profit, buys out Blackstone

“Our second-quarter results reflect consistent execution, rising profitability, and the growing relevance of home equity solutions for retirement,” CEO Graham Fleming said in a statement prior to FOA’s earnings call on Tuesday.

“We continue to see encouraging signals from our new brand campaign and digital initiatives, which are helping to expand our reach and deepen engagement with the next generation of borrowers. As demand builds among a rapidly growing demographic, we believe Finance of America will continue to lead this market and deliver long-term value.”

Farewell to Selleck

In April, FOA announced the launch of its new marketing campaign, “A Better Way with FOA.” The move came shortly after the lender enlisted the services of David&Goliath as its creative…