Company: FOACW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001828937-25-000061
Chunk: 98

Company: Finance of America Companies Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 98
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,512 Total expenses89,060 85,047 175,429 176,362 Impairment of other assets— — — (600)Other, net(6,361)2,240 (3,994)3,693 NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES$81,955 $(3,768)$163,648 $(19,548)

Net interest income

All of our financial instruments, with the exception of our notes payable, are either recorded at fair value or the carrying value approximated fair value. The interest recognized on these financial instruments is recorded in Interest income or Interest expense in the Condensed Consolidated Statements of Operations. The interest on our notes payable is recorded in Non-funding interest expense, net, in the Condensed Consolidated Statements of Operations. We evaluate net interest income through an evaluation of all components of interest income and interest expense.

48

The following table provides an analysis of all components of net interest income (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, 2024Interest income:Interest income on mortgage loans$478,321 $474,251 $955,923 $934,285 Other interest income3,479 3,840 6,479 7,785 Total portfolio interest income481,800 478,091 962,402 942,070 Interest expense:Interest expense on HMBS and nonrecourse obligations(1)(400,468)(393,504)(793,371)(767,240)Interest expense on other financing lines of credit(21,868)(19,114)(39,132)(39,182)Total portfolio interest expense(422,336)(412,618)(832,503)(806,422)Net portfolio interest income59,464 65,473 129,899 135,648     Non-funding interest expense, net(15,223)(9,268)(30,135)(17,420)Net interest income$44,241 $56,205 $99,764 $118,228 

(1) Interest expense on HMBS and nonrecourse obligations also includes gains or losses on extinguishment of debt related to the purchase of securities that were previously issued by consolidated