Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001828937-25-000033
Chunk: 116

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 116
---
 for the 2024 period.

•Loan portfolio related expenses increased $4.3 million due to increased securitization expenses related to nonrecourse securitizations during the three months ended March 31, 2025 compared to the 2024 period.

•General and administrative expenses decreased $1.4 million or 35.2% primarily due to continued cost-cutting measures associated with the wind-down of business lines that are not part of our unified modern retirement solutions platform during the three months ended March 31, 2025 when compared to the 2024 period.

56

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 March 31, 2025For the three months ended March 31, 2024Non-funding interest expense, net$(14,912)$(8,152)Total revenues(14,912)(8,152)Total expenses14,299 19,275 Impairment of other assets— (600)Other, net2,367 1,627 NET LOSS BEFORE INCOME TAXES$(26,844)$(26,400)

In the table below is a summary of the components of Corporate and Other total expenses (in thousands):

For the three months ended March 31, 2025For the three months ended March 31, 2024Salaries and bonuses$12,772 $14,728 Other salary related expenses2,130 3,308 Shared services - payroll allocations(6,456)(5,210)Total salaries, benefits, and related expenses8,446 12,826 Marketing and advertising expenses1 6 Depreciation and amortization310 182 Communications and data processing and other expenses5,645 7,140 Professional and consulting fees3,233 2,661 Shared services - general and administrative allocations(3,336)(3,540)Total general and administrative expenses5,542 6,261 Total expenses$14,299 $19,275 

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