Finance of America (FOA) is a non-bank lender focused on reverse mortgages for older Americans. A reverse mortgage lets homeowners aged 55 and over convert home equity into cash without making monthly principal and interest payments — the loan is repaid when the borrower sells, moves out, or passes away. FOA originates two types: HECMs (FHA-insured reverse mortgages) and proprietary non-agency products branded "HomeSafe," which serve borrowers with higher-value homes or needs outside HECM limits. HomeSafe includes a second-lien product, HomeSafe Second, which lets borrowers tap equity while preserving an existing low-rate first mortgage. FOA reaches borrowers through retail (direct-to-consumer) and wholesale (mortgage broker) channels, with wholesale representing around 55% of recent volume but at lower margins than retail. FOA makes money two ways: upfront origination gains when loans are funded, and ongoing portfolio income from residual interests retained after securitizing loans into mortgage-backed securities. HECM loans are securitized into Ginnie Mae-guaranteed HMBS; non-agency loans go into private-label MBS or are sold whole. FOA often retains residual cash flow rights from securitized pools, which generate income over time. Profitability is driven by origination volume, channel and product mix, and securitization execution. FOA is growing through digital tools to improve loan officer productivity, product expansion into traditional home equity loans via a partnership with Better, and capital markets partnerships including a deal with Blue Owl Capital to purchase up to $2.5B in FOA-originated loans.