Commercial revenue in Title was strong, with $626 million in the first half of 2025, up 23% year-over-year.
F&G segment grew assets under management to $69.2 billion, up 13% year-over-year, with adjusted net earnings of $89 million, down from $122 million in Q2 2024.
FNF reported strong Q2 2025 results with total revenue of $3.6 billion and adjusted net earnings of $318 million, slightly down from $338 million in Q2 2024.
Personnel costs and other operating expenses increased by 10%, driven by active recruiting and strategic investments in security and technology.
The Title segment delivered adjusted pretax earnings of $337 million with a 15.5% margin, slightly below the 16.2% margin in Q2 2024 due to higher expenses.
Strategic Acquisition of NewPoint Enhances Multifamily Platform and Recurring Income
NewPoint acquisition closed on July 1, 2025, expanding the company's multifamily lending platform.
Expected agency FHA volume of $4-5 billion in 2025, with $1.9 billion already closed year-to-date.
Integration of NewPoint's mortgage servicing platform is underway, with full migration expected by Q1 2026.
Anticipated earnings contribution from NewPoint to grow significantly, with GAAP net income of $23-27 million and distributable earnings of $13-17 million in 2025.
Long-term ROE for NewPoint projected to reach low teens, with immediate benefits including cost savings and increased deal flow.
AFFO for Q2 2025 was $1.3 million or $0.03 per share, up from the prior year, positively impacted by lower interest expense and increased loan program activity.
AFFO for the six months was $3.6 million or $0.08 per share, higher than 2024, helped by lower interest expense, higher interest income, and proceeds from a solar lease arrangement.
For Q2 2025, net income was $7.8 million or $0.15 per share, higher than Q2 2024 due to gains on dispositions of 32 properties, lower G&A costs, lower interest expenses, and higher interest income.
For the six months ended June 30, 2025, net income was $9.9 million or $0.18 per share, higher than 2024 due to 34 property dispositions, debt reductions, lower G&A, and increased interest income.
Gain on disposition of assets was $25 million on $81.6 million of property sales in 2025, compared to a loss of $0.1 million in 2024.
General and administrative expenses decreased primarily due to a one-time severance expense in 2024.
Interest expense decreased by $2.8 million in Q2 and $5.2 million year-to-date due to debt reductions since October 2024.
Lines of credit were repaid in full with $23 million payments in early July 2025.
Undrawn capacity on lines of credit was approximately $160 million as of June 30, 2025, with no debt subject to interest rate resets in 2025.
Dafinchi