Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 163

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 163
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$146,696 Total loan origination volume - units36 11,606 

(1) Loan origination volumes consist of initial reverse mortgage loan borrowing amounts.

(2) Tails consist of subsequent borrower draws, mortgage insurance premiums, service fees, and other advances, which we are able to subsequently securitize.

Revenues

In the table below is a summary of the components of our Retirement Solutions segment’s total revenues (in thousands):

For the year ended December 31, 2024For the year ended December 31, 2023Net origination gains:TPO$147,961 $108,016 Retail81,026 58,412 Acquisition costs(49,150)(44,782)Total net origination gains179,837 121,646 Fee income26,553 33,167 Loss on sale and other income from loans held for sale, net(76)(6,303)Total revenues$206,314 $148,510 

For the year ended December 31, 2024 versus the year ended December 31, 2023

Total revenues increased $57.8 million or 38.9% as a result of the following:

•Net origination gains increased $58.2 million or 47.8% as a result of higher reverse mortgage loan origination volumes and higher margins associated with the increase in volumes from our retail platform acquired from AAG/Bloom. We originated $1.9 billion of reverse mortgage loans for the year ended December 31, 2024, an increase of 18.7%, compared to $1.6 billion for the comparable 2023 period. During the year ended December 31, 2024, the weighted average margin on reverse mortgage loan production was 9.38% compared to 7.53% in 2023, an increase of 1.85% primarily due to the increase in retail production mix associated with the onboarding of our retail platform acquired from AAG/Bloom.

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•Fee income decreased $6.6 million primarily due to fees associated with the previous operations of the home improvement lending business, partially offset by higher reverse loan origination fees generated through our retail platform acquired from AAG/Bloom. 

•Loss on sale and other income from loans held for sale, net, improved $6.2 million due to lower losses related to the previous operations of the home improvement lending business.

Expenses