Company: FOACW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001828937-25-000061
Chunk: 18

Company: Finance of America Companies Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 18
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Loan portfolio related expenses increased $3.6 million due to increased securitization expenses during the three months ended June 30, 2025 compared to the 2024 period.

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•General and administrative expenses decreased $0.8 million or 22.4% primarily due to continued cost-cutting initiatives that align expenses with our unified modern retirement solutions platform during the three months ended June 30, 2025 when compared to the 2024 period.

For the six months ended June 30, 2025 versus the six months ended June 30, 2024

Total expenses increased $3.5 million or 8.2% as a result of the following:

•Salaries, benefits, and related expenses decreased $1.6 million or 18.2% primarily due to a decrease in average headcount and continued cost-cutting initiatives that align expenses with our unified modern retirement solutions platform during the six months ended June 30, 2025 when compared to the 2024 period. Average headcount was 60 for the six months ended June 30, 2025 compared to 68 for the 2024 period.

•Loan portfolio related expenses increased $7.9 million due to increased securitization expenses during the six months ended June 30, 2025 compared to the 2024 period.

•General and administrative expenses decreased $2.2 million or 29.1% primarily due to continued cost-cutting initiatives that align expenses with our unified modern retirement solutions platform during the six months ended June 30, 2025 when compared to the 2024 period.

Corporate and Other

Corporate and Other consists of our corporate services groups. These groups support our operating segments, and the cost of services directly supporting the operating segments are allocated to those operating segments on a cost-of-service basis. Enterprise-focused Corporate and Other expenses that are not incurred in direct support of the operating segments are kept unallocated within Corporate and Other.

The following table summarizes Corporate and Other results (in thousands):

For the three months ended June 30, 2025For the three months ended June 30, 2024For the six months ended June 30, 2025For the six months ended June 30, 2024Non-funding interest expense, net$(15,223)$(9,268)$(30,135)$(17,420)Total revenues(15,223)(9,268)(30,135)(17