Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001828937-25-000033
Chunk: 62

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 1
Chunk 62
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453 

(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.

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Revenues

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

For the three months ended March 31, 2025For the three months ended March 31, 2024Net origination gains:TPO$44,664 $31,351 Retail18,139 18,512 Acquisition costs(16,765)(10,206)Total net origination gains46,038 39,657 Fee income5,683 6,051 Total revenues$51,721 $45,708 

For the three months ended March 31, 2025 versus the three months ended March 31, 2024

Total revenues increased $6.0 million or 13.2% as a result of the following:

•Net origination gains increased $6.4 million or 16.1% as a result of higher reverse mortgage loan origination volumes, partially offset by lower margins due to changes in channel mix. We originated $560.7 million of reverse mortgage loans for the three months ended March 31, 2025, an increase of 32.4%, compared to $423.5 million for the comparable 2024 period. During the three months ended March 31, 2025, the weighted average margin on reverse mortgage loan production was 8.21% compared to 9.37% in 2024, a decrease of 1.16%.

Expenses

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

For the three months ended March 31, 2025For the three months ended March 31, 2024Salaries$14,342 $13,910 Commissions and bonuses4,924 4,725 Other salary related expenses2,586 2,498 Total salaries, benefits, and related expenses21,852 21,133 Loan production expenses1,526 3,081 Marketing and advertising expenses10,730 8,491 Depreciation and amortization9,330 9,488 General and administrative expenses5,024 7,217 Total