Company: FOACW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052025
Chunk: 19

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 19
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 11,027 12,080 Loan portfolio related expenses23,906 4,696 41,921 14,790 Loan servicing expenses8,168 7,772 23,434 23,622 Marketing and advertising expenses— 1 — 40 Depreciation and amortization5 41 39 64 General and administrative expenses2,509 2,791 7,839 10,307 Total expenses$38,258 $18,388 $84,260 $60,903 

For the three months ended September 30, 2025 versus the three months ended September 30, 2024

Total expenses increased $19.9 million as a result of the following:

•Loan portfolio related expenses increased $19.2 million due to increased securitization expenses during the three months ended September 30, 2025 compared to the 2024 period. We issued $3.2 billion of notes during the three months ended September 30, 2025 compared to $0.8 billion for the 2024 period.

For the nine months ended September 30, 2025 versus the nine months ended September 30, 2024

Total expenses increased $23.4 million or 38.4% as a result of the following:

•Loan portfolio related expenses increased $27.1 million due to increased securitization expenses during the nine months ended September 30, 2025 compared to the 2024 period. We issued $4.9 billion of notes during the nine months ended September 30, 2025 compared to $2.1 billion for the 2024 period.

•General and administrative expenses decreased $2.5 million or 23.9% primarily due to continued cost-cutting initiatives that align expenses with our unified modern retirement solutions platform during the nine months ended September 30, 2025 when compared to the 2024 period.

•Salaries, benefits, and related expenses decreased $1.1 million or 8.7% 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 nine months ended September 30, 2025 when compared to the 2024 period. Average headcount was 60 for the nine months ended September 30, 2025 compared to 64 for the