diff --git a/cranelift/frontend/src/frontend.rs b/cranelift/frontend/src/frontend.rs
index 0eb9b606b4..89949c679c 100644
--- a/cranelift/frontend/src/frontend.rs
+++ b/cranelift/frontend/src/frontend.rs
@@ -596,10 +596,11 @@ impl<'a> FunctionBuilder<'a> {
         }
     }
 
-    /// Declare that translation of the current function is complete. This
-    /// resets the state of the `FunctionBuilder` in preparation to be used
-    /// for another function.
-    pub fn finalize(&mut self) {
+    /// Declare that translation of the current function is complete.
+    ///
+    /// This resets the state of the `FunctionBuilderContext` in preparation to
+    /// be used for another function.
+    pub fn finalize(self) {
         // Check that all the `Block`s are filled and sealed.
         #[cfg(debug_assertions)]
         {
@@ -637,10 +638,6 @@ impl<'a> FunctionBuilder<'a> {
         // Clear the state (but preserve the allocated buffers) in preparation
         // for translation another function.
         self.func_ctx.clear();
-
-        // Reset srcloc and position to initial states.
-        self.srcloc = Default::default();
-        self.position = Default::default();
     }
 }
 
diff --git a/crates/cranelift/src/compiler.rs b/crates/cranelift/src/compiler.rs
index 5f6a08bf3d..3b5c8c9a37 100644
--- a/crates/cranelift/src/compiler.rs
+++ b/crates/cranelift/src/compiler.rs
@@ -766,7 +766,7 @@ impl Compiler {
             .ins()
             .call_indirect(new_sig, callee_value, &callee_args);
 
-        self.wasm_to_host_load_results(ty, &mut builder, values_vec_ptr_val);
+        self.wasm_to_host_load_results(ty, builder, values_vec_ptr_val);
 
         let func = self.finish_trampoline(&mut context, cache_ctx.as_mut(), isa)?;
         self.save_context(CompilerContext {
@@ -840,7 +840,7 @@ impl Compiler {
     fn wasm_to_host_load_results(
         &self,
         ty: &WasmFuncType,
-        builder: &mut FunctionBuilder,
+        mut builder: FunctionBuilder,
         values_vec_ptr_val: Value,
     ) {
         let isa = &*self.isa;
diff --git a/crates/cranelift/src/compiler/component.rs b/crates/cranelift/src/compiler/component.rs
index 1a4758eeb0..8b34c9fc41 100644
--- a/crates/cranelift/src/compiler/component.rs
+++ b/crates/cranelift/src/compiler/component.rs
@@ -145,7 +145,7 @@ impl ComponentCompiler for Compiler {
 
         // After the host function has returned the results are loaded from
         // `values_vec_ptr_val` and then returned.
-        self.wasm_to_host_load_results(ty, &mut builder, values_vec_ptr_val);
+        self.wasm_to_host_load_results(ty, builder, values_vec_ptr_val);
 
         let func: CompiledFunction =
             self.finish_trampoline(&mut context, incremental_cache_ctx.as_mut(), isa)?;
@@ -219,7 +219,7 @@ impl ComponentCompiler for Compiler {
         builder.switch_to_block(block0);
         builder.seal_block(block0);
 
-        self.translate_transcode(&mut builder, &offsets, transcoder, block0);
+        self.translate_transcode(builder, &offsets, transcoder, block0);
 
         let func: CompiledFunction =
             self.finish_trampoline(&mut context, incremental_cache_ctx.as_mut(), isa)?;
@@ -280,7 +280,7 @@ impl Compiler {
 
     fn translate_transcode(
         &self,
-        builder: &mut FunctionBuilder<'_>,
+        mut builder: FunctionBuilder<'_>,
         offsets: &VMComponentOffsets<u8>,
         transcoder: &Transcoder,
         block: ir::Block,
@@ -290,7 +290,7 @@ impl Compiler {
 
         // Save the exit FP and return address for stack walking purposes. This
         // is used when an invalid encoding is encountered and a trap is raised.
-        self.save_last_wasm_fp_and_pc(builder, &offsets, vmctx);
+        self.save_last_wasm_fp_and_pc(&mut builder, &offsets, vmctx);
 
         // Determine the static signature of the host libcall for this transcode
         // operation and additionally calculate the static offset within the
@@ -329,8 +329,9 @@ impl Compiler {
         );
 
         // Load the base pointers for the from/to linear memories.
-        let from_base = self.load_runtime_memory_base(builder, vmctx, offsets, transcoder.from);
-        let to_base = self.load_runtime_memory_base(builder, vmctx, offsets, transcoder.to);
+        let from_base =
+            self.load_runtime_memory_base(&mut builder, vmctx, offsets, transcoder.from);
+        let to_base = self.load_runtime_memory_base(&mut builder, vmctx, offsets, transcoder.to);
 
         // Helper function to cast a core wasm input to a host pointer type
         // which will go into the host libcall.
@@ -378,24 +379,24 @@ impl Compiler {
             | Transcode::Utf8ToLatin1
             | Transcode::Utf16ToLatin1
             | Transcode::Utf8ToUtf16 => {
-                args.push(ptr_param(builder, 0, from64, from_base));
-                args.push(len_param(builder, 1, from64));
-                args.push(ptr_param(builder, 2, to64, to_base));
+                args.push(ptr_param(&mut builder, 0, from64, from_base));
+                args.push(len_param(&mut builder, 1, from64));
+                args.push(ptr_param(&mut builder, 2, to64, to_base));
             }
 
             Transcode::Utf16ToUtf8 | Transcode::Latin1ToUtf8 => {
-                args.push(ptr_param(builder, 0, from64, from_base));
-                args.push(len_param(builder, 1, from64));
-                args.push(ptr_param(builder, 2, to64, to_base));
-                args.push(len_param(builder, 3, to64));
+                args.push(ptr_param(&mut builder, 0, from64, from_base));
+                args.push(len_param(&mut builder, 1, from64));
+                args.push(ptr_param(&mut builder, 2, to64, to_base));
+                args.push(len_param(&mut builder, 3, to64));
             }
 
             Transcode::Utf8ToCompactUtf16 | Transcode::Utf16ToCompactUtf16 => {
-                args.push(ptr_param(builder, 0, from64, from_base));
-                args.push(len_param(builder, 1, from64));
-                args.push(ptr_param(builder, 2, to64, to_base));
-                args.push(len_param(builder, 3, to64));
-                args.push(len_param(builder, 4, to64));
+                args.push(ptr_param(&mut builder, 0, from64, from_base));
+                args.push(len_param(&mut builder, 1, from64));
+                args.push(ptr_param(&mut builder, 2, to64, to_base));
+                args.push(len_param(&mut builder, 3, to64));
+                args.push(len_param(&mut builder, 4, to64));
             }
         };
         let call = builder.ins().call_indirect(sig, transcode_libcall, &args);
@@ -425,15 +426,15 @@ impl Compiler {
             | Transcode::Utf16ToCompactProbablyUtf16
             | Transcode::Utf8ToCompactUtf16
             | Transcode::Utf16ToCompactUtf16 => {
-                raw_results.push(cast_from_pointer(builder, results[0], to64));
+                raw_results.push(cast_from_pointer(&mut builder, results[0], to64));
             }
 
             Transcode::Latin1ToUtf8
             | Transcode::Utf16ToUtf8
             | Transcode::Utf8ToLatin1
             | Transcode::Utf16ToLatin1 => {
-                raw_results.push(cast_from_pointer(builder, results[0], from64));
-                raw_results.push(cast_from_pointer(builder, results[1], to64));
+                raw_results.push(cast_from_pointer(&mut builder, results[0], from64));
+                raw_results.push(cast_from_pointer(&mut builder, results[1], to64));
             }
         };