Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 165

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 165
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 (expense):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 obligations(99,642)(144,112)Fee income3,183 10,283 Gain (loss) on sale and other income from loans held for sale, net378 (18,691)Net other income (expense)(96,081)(152,520)Total revenues171,847 115,359 Total expenses87,449 84,023 Impairment of intangible assets— (6,400)NET INCOME BEFORE INCOME TAXES$84,398 $24,936 

Our Portfolio Management segment generates its revenues primarily from the net interest income and fair value changes on portfolio assets, monetized by securitization, sale, or other financing of those assets. 

Net fair value changes in our Portfolio Management segment include fair value adjustments primarily related to the following assets and liabilities:

•Loans held for investment, subject to HMBS related obligations, at fair value

•Loans held for investment, subject to nonrecourse debt, at fair value

•Loans held for investment, at fair value

•Loans held for sale, at fair value

•HMBS related obligations, at fair value; and

•Nonrecourse debt, at fair value.

75

Key Metrics

The following table provides a summary of the assets and liabilities under management by our Portfolio Management segment (in thousands):

December 31, 2024December 31, 2023Cash and cash equivalents$29,355 $32,245 Restricted cash254,335 178,319 Loans held for investment, subject to HMBS related obligations, at fair value18,669,962 17,548,763 Loans held for investment, subject to nonrecourse debt, at fair value9,288,403 8,272,393 Loans held for investment, at fair value520,103 575,228 Other assets, net115,120 166,153 Total earning assets28,877,278 26,773,101 HMBS related obligations, at fair value18,444,370 17,353,720 Nonrecourse debt, at fair value8,954