Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 10

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 10
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A Equity based upon FOA’s economic interest in FOA Equity as well as any stand-alone income it generates. Refer to Note 23 - Income Taxes in the Notes to Consolidated Financial Statements for additional information.

69

Results of Operations

Overview

The following tables present selected financial data for the years ended December 31, 2024 and 2023.

Consolidated Results

The following table summarizes our consolidated operating results from continuing operations (in thousands):

For the year ended December 31, 2024For the year ended December 31, 2023Portfolio interest income:Interest income$1,905,214 $1,628,877 Interest expense(1,637,286)(1,360,998)Net portfolio interest income267,928 267,879 Other income (expense):Net origination gains179,837 121,646 Gain on securitization of HECM tails, net45,535 25,583 Fair value changes from model amortization(201,101)(228,391)Fair value changes from market inputs or model assumptions55,924 58,696 Net fair value changes on loans and related obligations80,195 (22,466)Fee income29,244 43,450 Gain (loss) on sale and other income from loans held for sale, net302 (24,994)Non-funding interest expense, net(39,498)(29,619)Net other income (expense)70,243 (33,629)Total revenues338,171 234,250 ExpensesSalaries, benefits, and related expenses138,360 178,319 Loan production and portfolio related expenses36,205 26,490 Loan servicing expenses31,323 30,729 Marketing and advertising expenses39,429 31,896 Depreciation and amortization38,947 42,369 General and administrative expenses59,462 82,204 Total expenses343,726 392,007 Impairment of intangibles and other assets(891)(9,296)Gain on extinguishment of debt56,193 — Other, net(6,931)211 NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES$42,816 $(166,842)

Net interest income

All of our financial instruments, with the exception of our notes payable, are either recorded at fair value or the carrying value approx