Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-K/A
Source: 0001828937-25-000032
Chunk: 130

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-K/A
Chunk 130
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 year ended December 31, 2024 versus the year ended December 31, 2023

Total expenses decreased $13.9 million or 6.7% as a result of the following:

• Total salaries, benefits, and related expenses decreased $13.1 million or 13.6% primarily due to a decrease in average headcount for the year ended December 31, 2024 at 482 compared to 579 for the 2023 period related to continued cost-cutting measures, as well as lower compensation cost associated with the Replacement RSUs and Earnout Right RSUs, partially offset by increased expenses associated with the onboarding of our retail loan originations platform acquired from AAG/Bloom in the 2023 period.

• Marketing and advertising expenses increased $7.7 million or 24.2% primarily within our retail loan originations platform acquired from AAG/Bloom.

• General and administrative expenses decreased $3.9 million or 13.0% primarily due to continued cost-cutting measures, partially offset by increases in various expenses from the onboarded infrastructure of our retail loan originations platform acquired from AAG/Bloom for the year ended December 31, 2024 when compared to the 2023 period.

#### 77

#### Portfolio Management Segment
The following table summarizes our Portfolio Management segment’s results (in thousands):

|                                                                    |     |   | For the year ended December 31, 2024 |     |   | For the year ended December 31, 2023 |
|:-------------------------------------------------------------------|:----|:--|-------------------------------------:|:----|:--|-------------------------------------:|
| Portfolio interest income:                                         |     |   |                                      |     |   |                                      |
| Interest income                                                    |     | $ |                            1,905,214 |     | $ |                            1,628,877 |
| Interest expense                                                   |     |   |                           -1,637,286 |     |   |                           -1,360,998 |
| Net portfolio interest income                                      |     |   |                              267,928 |     |   |                              267,879 |
| Other income (expense):                                            |     |   |                                      |     |   |                                      |
| Gain on securitization of HECM tails, net                          |     |   |                               45,535 |     |   |                               25,583 |
| Fair value changes from model amortization                         |     |