Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000042
Chunk: 78

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 78
---
3

Total expenses decreased $2.5 million or 11.1% as a result of the following:

• Salaries, benefits, and related expenses decreased $1.6 million or 29.0% primarily due to a decrease in average headcount and continued cost-cutting measures associated with the restructuring of the business during the three months ended June 30, 2024 compared to the 2023 period. Average headcount was 66 for the three months ended June 30, 2024 compared to 73 for the 2023 period.

• Loan servicing expenses decreased $1.0 million for the three months ended June 30, 2024 compared to the 2023 period due to the wind-down of business lines that are not part of our modern retirement solutions platform.

For the six months ended June 30, 2024 versus the six months ended June 30, 2023

Total expenses decreased $4.4 million or 9.4% as a result of the following:

• Salaries, benefits, and related expenses decreased $4.7 million primarily due to a decrease in average headcount and continued cost-cutting measures associated with the restructuring of the business during the six months ended June 30, 2024 compared to the 2023 period. Average headcount was 68 for the six months ended June 30, 2024 compared to 76 for the 2023 period.

• Loan servicing expenses increased $0.6 million for the six months ended June 30, 2024 compared to the 2023 period due to the increase in average size of our HECM portfolio after the acquisition of the AAG/Bloom HECM portfolio on March 31, 2023, partially offset by the wind-down of business lines that are not part of our modern retirement solutions platform.

#### 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-

#### 78
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, 2024 |     |   | For the three months ended June 30, 2023 |     |   | For the six months