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FINANCE OF AMERICA REPORTS SECOND QUARTER 2021 RESULTS - Total revenue of $ 389 million on Funded Volume of $ 8.3 billion during the second quarter – Net loss for the quarter of $ 15 million or $ ( 0.05 ) per diluted share - - Adjusted Net Income * of $ 57 million or $ 0.30 per diluted share- Irving , TX ( August 11 , 2021 ) : Finance of America Companies Inc. , ( " Finance of America " or the " Company " ) ( NYSE : FOA ) , a diversified , vertically integrated consumer lending platform , reported financial results for the quarter ended June 30 , 2021 . Second Quarter 2021 Financial Highlights • • • • • • • Completed the business combination with Replay Acquisition Corp. on April 1 , 2021 ( the " Business Combination " ) Total revenues were $ 389 million compared to $ 465 million in the second quarter of 2020 and $ 508 million in the prior quarter Year to date , the company has shown substantial growth in revenue across all business segments compared to the first six months of 2020 Net loss totaled $ 15 million , or $ ( 0.05 ) Diluted EPS on an if - converted basis , compared to net income of $ 146 million , or $ 0.78 per share on an if - converted basis , in the second quarter of 2020 and $ 124 million , or $ 0.63 per share on an if - converted basis , in the prior quarter Adjusted Net Income * totaled $ 57 million compared to adjusted net income of $ 110 million in the second quarter of 2020 and $ 107 million in the prior quarter Adjusted EBITDA * totaled $ 87 million compared to $ 153 million in the second quarter of 2020 and $ 154 million in the prior quarter Adjusted diluted earnings per share * of $ 0.30 compared to $ 0.58 in the second quarter of 2020 and $ 0.56 in the prior quarter Book equity of $ 2,379 million or $ 12.44 per diluted share * See the sections titled " Reconciliation to GAAP " and " Non - GAAP Financial Measures " below for reconciliations to the most directly comparable GAAP measures and other important disclosures . " Second quarter results demonstrated the power of Finance of America's diversified platform , " stated Patricia Cook , Chief Executive Officer . " While the broader industry trends led to lower mortgage origination volumes and reduced gain on sale margins , continued strength across our other businesses partially offset the impact of mortgage revenue declines . Our diversified consumer lending platform that spans mortgages , reverse mortgages and commercial loans distributed across retail , third - party brokers , and digital direct - to - consumer channels remains a key differentiator . In addition , our Lender Services business continued to contribute significant levels of fee income despite the slowdown in mortgage volumes . " Our market leading Reverse Originations segment generated strong growth in earnings contribution in the second quarter . Importantly , the Reverse business is less correlated to the direction of interest rates than the forward mortgage market , and we believe the segment is well positioned to generate strong and sustainable growth . Baby boomers are increasingly looking to age in place , and our reverse mortgage products enable this demographic to tap into the equity accumulated in their homes to fund or supplement their retirement savings . 1