Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 280

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 280
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 expenses9,555 16,935 26,490 — — 26,490 Loan servicing expenses— 30,729 30,729 — — 30,729 Marketing and advertising expenses31,668 24 31,692 204 — 31,896 Depreciation and amortization40,571 107 40,678 1,691 — 42,369 General and administrative expenses30,468 16,354 46,822 43,507 (8,125)82,204 Total expenses208,836 84,023 292,859 107,273 (8,125)392,007 Impairment of intangibles and other assets— (6,400)(6,400)(2,896)— (9,296)Other, net75 — 75 136 — 211 Net income (loss) before taxes$(60,251)$24,936 $(35,315)$(131,527)$— $(166,842)Total assets$276,605 $26,773,101 $27,049,706 $1,521,058 $(1,469,895)$27,100,869 

The Company has identified two reportable segments: Retirement Solutions and Portfolio Management. The CODM are certain officers of the Company, which include the Chief Executive Officer, Chief Financial Officer, and Chief Investment Officer. The CODM evaluates the performance of the Company’s segments based on net income (loss) before taxes. The CODM uses this reported measure along with periodic reviews of results and overall market activity to allocate resources to segments in the planning and forecasting process.Retirement Solutions Our Retirement Solutions segment conducts all of our Company’s loan origination activity, including the origination and acquisition of HECM and non-agency reverse mortgage loans through both the retail and third-party originator  channels. The Retirement Solutions segment generates revenue from fees earned at the time of loan origination as well as from the initial estimate of net origination gains, with all originated loans accounted for at fair value. Once 

160

Finance of America Companies Inc.Notes to Consolidated Financial Statements

originated, the loans are transferred to our Portfolio Management segment, and any future fair value adjustments, including interest earned, on these originated loans are reflected in the revenues of our Portfolio Management segment until final disposition. The Company sold the operational assets of its home improvement