Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001828937-25-000033
Chunk: 111

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 111
---
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 expenses$48,462 $49,410 

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

Total expenses decreased $0.9 million or 1.9% as a result of the following:

•Total salaries, benefits, and related expenses increased $0.7 million or 3.4% primarily due to increases in variable compensation as a result of higher loan production and increased shared services allocations, partially offset by a decrease in average headcount. In addition, there was a reduction in compensation cost associated with the Replacement Restricted Stock Units (“RSUs”) and Earnout Right RSUs which expired in 2024. 

52

•General and administrative expenses and loan production expenses decreased $3.7 million or 36.4% primarily due to continued cost-cutting measures during the three months ended March