Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 159

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 159
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,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 approximated fair value. The interest recognized on these financial instruments is recorded in Interest income or Interest expense in the Consolidated Statements of Operations. The interest on our notes payable is recorded in Non-funding interest expense, net, in the Consolidated Statements of Operations. We evaluate net interest income through an evaluation of all components of interest income and interest expense.

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The following table provides an analysis of all components of net interest income (in thousands):

For the year ended December 31, 2024For the year ended December 31, 2023Interest income:Interest income on mortgage loans(1)$1,890,700 $1,617,954 Other interest income14,514 10,923 Total portfolio interest income1,905,214 1,628,877 Interest expense:Interest expense on HMBS and nonrecourse obligations(1)(1,559,341)(1,273,159)Interest expense on other financing lines of credit(77,945)(87,839)Total portfolio interest expense(1,637,286)(1,360,998)Net portfolio interest income267,928 267,879     Non-funding interest expense, net(39,498)(29,619)Net interest income$228,430 $238,260 

(1) Amounts include interest income and expense on all loans held for investment, subject to HMBS related obligations, loans held for investment, subject to nonrecourse debt, other loans held for investment, HMBS related obligations, and nonrecourse debt.

For the year ended December 31, 2024 versus the year ended December