First National Financial Reports Q1 2025 Results with Record MUA Growth

First National Financial ( (TSE:FN) ) has shared an update.

First National Financial Corporation reported a 7% increase in Mortgages Under Administration (MUA) to a record $155.4 billion for the first quarter of 2025, with revenue rising 2% to $528.9 million. Despite these gains, net income fell to $24.6 million due to lower mortgage servicing revenue, falling interest rates, and planned investments. The company anticipates future profitability from its securitization and servicing portfolios, with expectations of continued origination growth in the second quarter.

Spark’s Take on TSE:FN Stock

According to Spark, TipRanks’ AI Analyst, TSE:FN is a Neutral.

First National Financial’s stock score reflects a mixed picture. Financial vulnerabilities such as high leverage and negative cash flow are key risks. However, strengths in mortgage growth and a high dividend yield provide some balance. Technical analysis shows potential downside risks, and the earnings call suggests cautious optimism amid operational challenges.

To see Spark’s full report on TSE:FN stock, click here.

More about First National Financial

First National Financial Corporation is one of Canada’s largest non-bank mortgage originators and underwriters, deriving nearly all its earnings from its wholly owned subsidiary, First National Financial LP. The company focuses on both single-family and commercial mortgage portfolios, utilizing its MERLIN technology for effective mortgage underwriting across the country.

YTD Price Performance: 1.86%

Average Trading Volume: 34,654

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$2.43B

Learn more about FN stock on TipRanks’ Stock Analysis page.