# EDGAR Filing Document

**Accession Number:** 0001828937
**File Stem:** 0001828937-23-000007
**Filing Date:** 2023-3
**Character Count:** 27524
**Document Hash:** 19c90cdcd062dce41d65336817fc8823
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001828937-23-000007.hdr.sgml**: 20230306

**ACCESSION NUMBER**: 0001828937-23-000007

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230228

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230306

**DATE AS OF CHANGE**: 20230306

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Finance of America Companies Inc.
- **CENTRAL INDEX KEY:** 0001828937
- **STANDARD INDUSTRIAL CLASSIFICATION:** MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162]
- **IRS NUMBER:** 853474065
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40308
- **FILM NUMBER:** 23709048

**BUSINESS ADDRESS:**
- **STREET 1:** 5830 GRANITE PARKWAY
- **STREET 2:** SUITE 400
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
- **BUSINESS PHONE:** 877-202-2666

**MAIL ADDRESS:**
- **STREET 1:** 5830 GRANITE PARKWAY
- **STREET 2:** SUITE 400
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024

?xml version="1.0" ? foa-20230228

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT** 

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): February 28, 2023**

**FINANCE OF AMERICA COMPANIES INC.** 

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40308** | **85-3474065** |
| **(State or other jurisdiction of incorporation)** | **(Commission File Number)** | **(IRS Employer Identification No.)** |

---

---

| |
|:---|
| **5830 Granite Parkway, Suite 400** |
| **Plano, Texas 75024** |

---

**(Address of principal executive offices, including zip code)**

**Registrant's telephone number, including area code: (877) 202-2666** 

**N/A**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **Class A Common Stock, par value $0.0001 per share** | **FOA** | **New York Stock Exchange** |
| **Warrants to purchase shares of Class A Common Stock** | **FOA.WS** | **New York Stock Exchange** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.01. Completion of Acquisition or Disposition of Assets.**

On February 28, 2023, Finance of America Companies Inc. (the "Company") completed the previously announced discontinuation of the operations of its Mortgage Originations segment, other than its Home Improvement channel (the "Wind Down"). The Wind Down was previously disclosed by the Company in its Current Report on <u>[Form 8-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001828937/000182893722000008/foa-20221020.htm)</u> filed with the Securities and Exchange Commission on October 21, 2022 and such description is incorporated herein by reference. The unaudited pro forma financial information giving effect to the Wind Down is filed herewith as Exhibit 99.1.

**Item 9.01. Financial Statements and Exhibits.**

**(b) Pro Forma Financial Information.**

The unaudited pro forma consolidated financial information of the Company giving effect to the Wind Down, including the unaudited pro forma condensed consolidated statement of financial condition as of September 30, 2022 and the unaudited pro forma condensed consolidated statements of operations for the nine months ended September 30, 2022 (Successor), the nine months ended December 31, 2021 (Successor), the three months ended March 31, 2021 (Predecessor), and the years ended December 31, 2020 and 2019 (Predecessor), are attached hereto as Exhibit 99.1 and incorporated herein by reference.

The unaudited pro forma condensed consolidated financial information is not intended to represent or be indicative of the Company's consolidated results of operations or financial position that would have been reported had the Wind Down been completed as of the dates presented, and should not be taken as a representation of the Company's future consolidated results of operations or financial condition. The pro forma adjustments are based on available information and certain assumptions that management believes are reasonable under the circumstances, and are presented for informational purposes only.

**(d) Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Una](ex991-unauditedproformacon.htm)[udited Pro Forma](ex991-unauditedproformacon.htm)[Consolidated Financial Information](ex991-unauditedproformacon.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | **Finance of America Companies Inc.** | **Finance of America Companies Inc.** |
| Dated: | March 6, 2023 | By: | /s/ Johan Gericke |
|  |  |  | Johan Gericke |
|  |  |  | Executive Vice President and Chief Financial Officer |

---

## Exhibit 99.1

---

| | |
|:---|:---|
| **Finance of America Companies Inc. and Subsidiaries**<br>**Unaudited Pro Forma Condensed Consolidated Financial Statements** | **Exhibit 99.1** |

---

On February 28, 2023, Finance of America Companies Inc. (the "Company") completed the previously announced discontinuation of the operations of its Mortgage Originations segment, other than its Home Improvement channel (the "Wind Down"). The commencement of the Wind Down was previously disclosed by the Company in its Current Report on Form 8-K filed with the Securities and Exchange Commission on October 21, 2022. The unaudited pro forma condensed consolidated financial information giving effect to the Wind Down is filed in this Exhibit 99.1.

The Wind Down constituted a significant disposition for the Company and qualifies for discontinued operations under U.S. generally accepted accounting principles. As a result, the following unaudited pro forma condensed consolidated statements of operations for the nine months ended September 30, 2022 (Successor), the nine months ended December 31, 2021 (Successor), the three months ended March 31, 2021 (Predecessor), and for the years ended December 31, 2020 and 2019 (Predecessor) are presented as if the Wind Down were completed on January 1, 2019. The following unaudited pro forma condensed consolidated statement of financial position as of September 30, 2022 is presented as if the Wind Down were completed on September 30, 2022.

The unaudited pro forma condensed consolidated financial statements are based on the historical financial statements prepared in accordance with U.S. generally accepted accounting principles and are presented based on information currently available. They are intended for informational and illustrative purposes only and are not intended to represent the Company's financial position or results of operations had the Wind Down and related events occurred on the dates indicated or to project the Company's financial performance for any future period. The unaudited pro forma condensed consolidated financial statements do not include adjustments to reflect any potential synergies or dis-synergies that may result from the Wind Down. The pro forma adjustments are based on available information and certain assumptions that management believes are reasonable under the circumstances, and are presented for informational purposes only.

The historical columns in the unaudited pro forma condensed consolidated financial statements reflect the Company's historical financial statements for the periods presented and do not reflect any adjustments related to the Wind Down and related events.

The unaudited pro forma condensed consolidated financial statements have been prepared in accordance with Article 11 of Regulation S-X, and should be read in conjunction with the following: (i) the accompanying notes to the unaudited pro forma condensed consolidated financial information; (ii) the audited consolidated financial statements and accompanying notes and "Management's Discussion and Analysis of Financial Condition and Results of Operations" included in the Company's Annual Report on Form 10-K for the annual period ended December 31, 2021; and (iii) the unaudited condensed consolidated financial statements and accompanying notes and "Management's Discussion and Analysis of Financial Condition and Results of Operations" included in the Company's Quarterly Report on Form 10-Q for the nine months ended September 30, 2022.

------

---

| | |
|:---|:---|
| **Finance of America Companies Inc. and Subsidiaries**<br>**Unaudited Pro Forma Condensed Consolidated Financial Statements** | **Exhibit 99.1** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **September 30, 2022** | **September 30, 2022** | **September 30, 2022** | **September 30, 2022** |
| | **Finance of America Companies Inc. and Subsidiaries Historical** | **Discontinued Operations Adjustments** | | **Finance of America Companies Inc. and Subsidiaries <br>Pro Forma** |
| **ASSETS** | | | | |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $169072 | $(43702) | (a) | $125370 |
| &nbsp;&nbsp;&nbsp;Restricted cash | 210147 |  | (a) | 210147 |
| &nbsp;&nbsp;&nbsp;Loans held for investment, subject to Home Equity Conversion Mortgage-Backed Securities ("HMBS") related obligations, at fair value | 10916551 |  |  | 10916551 |
| &nbsp;&nbsp;&nbsp;Loans held for investment, subject to nonrecourse debt, at fair value | 6741391 |  |  | 6741391 |
| &nbsp;&nbsp;&nbsp;Loans held for investment, at fair value | 1307413 |  |  | 1307413 |
| &nbsp;&nbsp;&nbsp;Loans held for sale, at fair value | 859650 | (614199) | (a) | 245451 |
| &nbsp;&nbsp;Mortgage servicing rights ("MSRs"), at fair value, $59,800 subject to nonrecourse MSRs financing liability | 103069 |  |  | 103069 |
| &nbsp;&nbsp;&nbsp;Derivative assets | 89899 | (17596) | (a) | 72303 |
| &nbsp;&nbsp;&nbsp;Fixed assets and leasehold improvements, net | 19828 |  |  | 19828 |
| &nbsp;&nbsp;&nbsp;Intangible assets, net | 438300 |  |  | 438300 |
| &nbsp;&nbsp;&nbsp;Other assets, net | 334577 | (42920) | (a) | 291657 |
| **TOTAL ASSETS** | $21189897 | $(718417) |  | $20471480 |
| **LIABILITIES AND EQUITY** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;HMBS related obligations, at fair value | $10784841 | $— |  | $10784841 |
| &nbsp;&nbsp;Nonrecourse debt, at fair value | 6745526 |  |  | 6745526 |
| &nbsp;&nbsp;&nbsp;Other financing lines of credit | 2305999 | (601635) | (a) | 1704364 |
| &nbsp;&nbsp;&nbsp;Payables and other liabilities | 395635 | (116782) | (a) | 278853 |
| &nbsp;&nbsp;Notes payable, net (includes amounts due to related parties of $30,000) | 382810 |  |  | 382810 |
| **TOTAL LIABILITIES** | 20614811 | (718417) |  | 19896394 |
| Commitments and Contingencies |  |  |  |  |
| **EQUITY** |  |  |  |  |
| &nbsp;&nbsp;Class A Common Stock, $0.0001 par value; 6,000,000,000 shares authorized; 62,959,276 shares issued and outstanding at September 30, 2022 | 6 |  |  | 6 |
| &nbsp;&nbsp;Class B Common Stock, $0.0001 par value; 1,000,000 shares authorized, 15 shares issued and outstanding at September 30, 2022 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 876140 |  |  | 876140 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (577272) |  |  | (577272) |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (367) |  |  | (367) |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | 276579 |  |  | 276579 |
| **TOTAL EQUITY** | 575086 |  |  | 575086 |
| **TOTAL LIABILITIES AND EQUITY** | $21189897 | $(718417) |  | $20471480 |

---

*(a)&nbsp;&nbsp;&nbsp;&nbsp;Amounts attributable to the Mortgage Originations segment, excluding the Home Improvement channel.*

------

---

| | |
|:---|:---|
| **Finance of America Companies Inc. and Subsidiaries** <br>**Pro Forma Condensed Consolidated Statement of Operations (Unaudited)**<br>(In thousands, except share data) | **Exhibit 99.1** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **For the nine months ended September 30, 2022** | **For the nine months ended September 30, 2022** | **For the nine months ended September 30, 2022** | **For the nine months ended September 30, 2022** |
| | **Successor** | **Successor** | **Successor** | **Successor** |
| | **Finance of America Companies Inc. and Subsidiaries Historical** | **Discontinued Operations Adjustments** | | **Finance of America Companies Inc. and Subsidiaries <br>Pro Forma** |
| **REVENUES** | | | | |
| &nbsp;&nbsp;&nbsp;Gain on sale and other income from loans held for sale, net | $226336 | $(239210) | (a) | $(12874) |
| &nbsp;&nbsp;Net fair value gains on loans and related obligations | 5672 |  |  | 5672 |
| &nbsp;&nbsp;&nbsp;Fee income | 316798 | (44350) | (a) | 272448 |
| &nbsp;&nbsp;&nbsp;Net interest expense: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 41748 | (35054) | (a) | 6694 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (110900) | 26716 | (a) | (84184) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest expense | (69152) | (8338) |  | (77490) |
| **TOTAL REVENUES** | 479654 | (291898) |  | 187756 |
| **EXPENSES** |  |  |  |  |
| &nbsp;&nbsp;Salaries, benefits, and related expenses | 549755 | (264639) | (a) | 285116 |
| &nbsp;&nbsp;Occupancy, equipment rentals, and other office related expenses | 22103 | (13566) | (a) | 8537 |
| &nbsp;&nbsp;General and administrative expenses | 361613 | (92945) | (a) | 268668 |
| **TOTAL EXPENSES** | 933471 | (371150) |  | 562321 |
| **IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS** | (138184) | 128884 | (a) | (9300) |
| **OTHER, NET** | 41234 |  |  | 41234 |
| **NET LOSS BEFORE INCOME TAXES** | (550767) | 208136 |  | (342631) |
| &nbsp;&nbsp;&nbsp;Benefit for income taxes | (17249) |  | (a) | (17249) |
| **NET LOSS** | (533518) | 208136 |  | (325382) |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | (399859) | 140806 | (a) | (259053) |
| **NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST** | $(133659) | $67330 |  | $(66329) |
| **EARNINGS PER SHARE** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic weighted average shares outstanding | 61993353 | 61993353 |  | 61993353 |
| &nbsp;&nbsp;&nbsp;Basic net loss per share | $(2.16) | $(1.09) | (a) | $(1.07) |
| &nbsp;&nbsp;&nbsp;Diluted weighted average shares outstanding | 188375945 | 188375945 |  | 188375945 |
| &nbsp;&nbsp;&nbsp;Diluted net loss per share | $(2.34) | $(0.82) | (a) | $(1.52) |

---

*(a)&nbsp;&nbsp;&nbsp;&nbsp;Amounts attributable to the Mortgage Originations segment, excluding the Home Improvement channel.*

------

---

| | |
|:---|:---|
| **Finance of America Companies Inc. and Subsidiaries** <br>**Pro Forma Condensed Consolidated Statement of Operations (Unaudited)**<br>(In thousands, except share data) | **Exhibit 99.1** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **For the nine months ended December 31, 2021** | **For the nine months ended December 31, 2021** | **For the nine months ended December 31, 2021** | **For the nine months ended December 31, 2021** |
| | **Successor** | **Successor** | **Successor** | **Successor** |
| | **Finance of America Companies Inc. and Subsidiaries Historical** | **Discontinued Operations Adjustments** | | **Finance of America Companies Inc. and Subsidiaries <br>Pro Forma** |
| **REVENUES** | | | | |
| &nbsp;&nbsp;&nbsp;Gain on sale and other income from loans held for sale, net | $564525 | $(547101) | (a) | $17424 |
| &nbsp;&nbsp;Net fair value gains on loans and related obligations | 341750 |  |  | 341750 |
| &nbsp;&nbsp;&nbsp;Fee income | 386065 | (80453) | (a) | 305612 |
| &nbsp;&nbsp;&nbsp;Net interest expense: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 43925 | (41524) | (a) | 2401 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (107694) | 34205 | (a) | (73489) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest expense | (63769) | (7319) |  | (71088) |
| **TOTAL REVENUES** | 1228571 | (634873) |  | 593698 |
| **EXPENSES** |  |  |  |  |
| &nbsp;&nbsp;Salaries, benefits, and related expenses | 768105 | (466397) | (a) | 301708 |
| &nbsp;&nbsp;Occupancy, equipment rentals, and other office related expenses | 23389 | (13947) | (a) | 9442 |
| &nbsp;&nbsp;General and administrative expenses | 392262 | (133062) | (a) | 259200 |
| **TOTAL EXPENSES** | 1183756 | (613406) |  | 570350 |
| **IMPAIRMENT OF GOODWILL AND INTANGIBLE ASSETS** | (1380630) | 768897 | (a) | (611733) |
| **OTHER, NET** | 14142 |  |  | 14142 |
| **NET LOSS BEFORE INCOME TAXES** | (1321673) | 747430 |  | (574243) |
| &nbsp;&nbsp;&nbsp;Benefit for income taxes | (20671) | 15574 | (a) | (5097) |
| **NET LOSS** | (1301002) | 731856 |  | (569146) |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | (929202) | 513948 | (a) | (415254) |
| **NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST** | $(371800) | $217908 |  | $(153892) |
| **EARNINGS PER SHARE** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic weighted average shares outstanding | 59849638 | 59849638 |  | 59849638 |
| &nbsp;&nbsp;&nbsp;Basic net loss per share | $(6.21) | $(3.64) | (a) | $(2.57) |
| &nbsp;&nbsp;&nbsp;Diluted weighted average shares outstanding | 190597249 | 190597249 |  | 190597249 |
| &nbsp;&nbsp;&nbsp;Diluted net loss per share | $(6.52) | $(3.65) | (a) | $(2.87) |

---

*(a)&nbsp;&nbsp;&nbsp;&nbsp;Amounts attributable to the Mortgage Originations segment, excluding the Home Improvement channel.*

------

---

| | |
|:---|:---|
| **Finance of America Companies Inc. and Subsidiaries** <br>**Pro Forma Condensed Consolidated Statement of Operations (Unaudited)**<br>(In thousands, except share data) | **Exhibit 99.1** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **For the three months ended March 31, 2021** | **For the three months ended March 31, 2021** | **For the three months ended March 31, 2021** | **For the three months ended March 31, 2021** |
| | **Predecessor** | **Predecessor** | **Predecessor** | **Predecessor** |
| | **Finance of America Companies Inc. and Subsidiaries Historical** | **Discontinued Operations Adjustments** | | **Finance of America Companies Inc. and Subsidiaries <br>Pro Forma** |
| **REVENUES** | | | | |
| &nbsp;&nbsp;&nbsp;Gain on sale and other income from loans held for sale, net | $291334 | $(286481) | (a) | $4853 |
| &nbsp;&nbsp;Net fair value gains on loans and related obligations | 76663 |  |  | 76663 |
| &nbsp;&nbsp;&nbsp;Fee income | 161371 | (32731) | (a) | 128640 |
| &nbsp;&nbsp;&nbsp;Net interest expense: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 12661 | (12483) | (a) | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (34366) | 11592 | (a) | (22774) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest expense | (21705) | (891) |  | (22596) |
| **TOTAL REVENUES** | 507663 | (320103) |  | 187560 |
| **EXPENSES** |  |  |  |  |
| &nbsp;&nbsp;Salaries, benefits, and related expenses | 238530 | (174030) | (a) | 64500 |
| &nbsp;&nbsp;Occupancy, equipment rentals, and other office related expenses | 7597 | (5220) | (a) | 2377 |
| &nbsp;&nbsp;General and administrative expenses | 127187 | (40443) | (a) | 86744 |
| **TOTAL EXPENSES** | 373314 | (219693) |  | 153621 |
| **OTHER, NET** | (8892) |  |  | (8892) |
| **NET INCOME BEFORE INCOME TAXES** | 125457 | (100410) |  | 25047 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 1137 |  |  | 1137 |
| **NET INCOME** | 124320 | (100410) |  | 23910 |
| &nbsp;&nbsp;Contingently Redeemable Noncontrolling Interest ("CRNCI") | 4260 |  |  | 4260 |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | 201 |  |  | 201 |
| **NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST** | $119859 | $(100410) |  | $19449 |

---

*(a)&nbsp;&nbsp;&nbsp;&nbsp;Amounts attributable to the Mortgage Originations segment, excluding the Home Improvement channel.*

------

---

| | |
|:---|:---|
| **Finance of America Companies Inc. and Subsidiaries** <br>**Pro Forma Condensed Consolidated Statement of Operations (Unaudited)**<br>(In thousands, except share data) | **Exhibit 99.1** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **For the year ended December 31, 2020** | **For the year ended December 31, 2020** | **For the year ended December 31, 2020** | **For the year ended December 31, 2020** |
| | **Predecessor** | **Predecessor** | **Predecessor** | **Predecessor** |
| | **Finance of America Companies Inc. and Subsidiaries Historical** | **Discontinued Operations Adjustments** | | **Finance of America Companies Inc. and Subsidiaries <br>Pro Forma** |
| **REVENUES** | | | | |
| &nbsp;&nbsp;&nbsp;Gain on sale and other income from loans held for sale, net | $1178995 | $(1171368) | (a) | $7627 |
| &nbsp;&nbsp;Net fair value gains on loans and related obligations | 311698 |  |  | 311698 |
| &nbsp;&nbsp;&nbsp;Fee income | 389869 | (118237) | (a) | 271632 |
| &nbsp;&nbsp;&nbsp;Net interest expense: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 42584 | (41688) | (a) | 896 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (123001) | 39792 | (a) | (83209) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest expense | (80417) | (1896) |  | (82313) |
| **TOTAL REVENUES** | 1800145 | (1291501) |  | 508644 |
| **EXPENSES** |  |  |  |  |
| &nbsp;&nbsp;Salaries, benefits, and related expenses | 868265 | (656264) | (a) | 212001 |
| &nbsp;&nbsp;Occupancy, equipment rentals, and other office related expenses | 29621 | (21817) | (a) | 7804 |
| &nbsp;&nbsp;General and administrative expenses | 395871 | (145317) | (a) | 250554 |
| **TOTAL EXPENSES** | 1293757 | (823398) |  | 470359 |
| **OTHER, NET** | (6131) |  |  | (6131) |
| **NET INCOME BEFORE INCOME TAXES** | 500257 | (468103) |  | 32154 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 2344 |  |  | 2344 |
| **NET INCOME** | 497913 | (468103) |  | 29810 |
| &nbsp;&nbsp;Contingently Redeemable Noncontrolling Interest ("CRNCI") | (21749) |  |  | (21749) |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | 1274 |  |  | 1274 |
| **NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST** | $518388 | $(468103) |  | $50285 |

---

*(a)&nbsp;&nbsp;&nbsp;&nbsp;Amounts attributable to the Mortgage Originations segment, excluding the Home Improvement channel.*

------

---

| | |
|:---|:---|
| **Finance of America Companies Inc. and Subsidiaries** <br>**Pro Forma Condensed Consolidated Statement of Operations (Unaudited)**<br>(In thousands, except share data) | **Exhibit 99.1** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **For the year ended December 31, 2019** | **For the year ended December 31, 2019** | **For the year ended December 31, 2019** | **For the year ended December 31, 2019** |
| | **Predecessor** | **Predecessor** | **Predecessor** | **Predecessor** |
| | **Finance of America Companies Inc. and Subsidiaries Historical** | **Discontinued Operations Adjustments** | | **Finance of America Companies Inc. and Subsidiaries <br>Pro Forma** |
| **REVENUES** | | | | |
| &nbsp;&nbsp;&nbsp;Gain on sale and other income from loans held for sale, net | $464308 | $(462700) | (a) | $1608 |
| &nbsp;&nbsp;Net fair value gains on loans and related obligations | 329526 |  |  | 329526 |
| &nbsp;&nbsp;&nbsp;Fee income | 199099 | (64372) | (a) | 134727 |
| &nbsp;&nbsp;&nbsp;Net interest expense: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 37323 | (36673) | (a) | 650 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (138731) | 37076 | (a) | (101655) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest expense | (101408) | 403 |  | (101005) |
| **TOTAL REVENUES** | 891525 | (526669) |  | 364856 |
| **EXPENSES** |  |  |  |  |
| &nbsp;&nbsp;Salaries, benefits, and related expenses | 529250 | (369526) | (a) | 159724 |
| &nbsp;&nbsp;Occupancy, equipment rentals, and other office related expenses | 32811 | (25453) | (a) | 7358 |
| &nbsp;&nbsp;General and administrative expenses | 256217 | (105966) | (a) | 150251 |
| **TOTAL EXPENSES** | 818278 | (500945) |  | 317333 |
| **OTHER, NET** | 4332 |  |  | 4332 |
| **NET INCOME BEFORE INCOME TAXES** | 77579 | (25724) |  | 51855 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 949 |  |  | 949 |
| **NET INCOME** | 76630 | (25724) |  | 50906 |
| &nbsp;&nbsp;Contingently Redeemable Noncontrolling Interest ("CRNCI") | 21707 |  |  | 21707 |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | 511 |  |  | 511 |
| **NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST** | $54412 | $(25724) |  | $28688 |

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*(a)&nbsp;&nbsp;&nbsp;&nbsp;Amounts attributable to the Mortgage Originations segment, excluding the Home Improvement channel.*

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|:---|:---|
| **<br>Finance of America Companies Inc. and Subsidiaries <br>Notes to Pro Forma Condensed Consolidated Financial Statements (Unaudited)** | **Exhibit 99.1** |

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**1. Basis of Presentation**

The unaudited pro forma condensed consolidated financial statements are based on the historical condensed consolidated financial statements of the Company as adjusted to give effect to the Wind Down of the operations of its Mortgage Originations segment, other than its Home Improvement channel. The unaudited pro forma condensed consolidated statements of operations for the nine months ended September 30, 2022 (Successor), the nine months ended December 31, 2021 (Successor), the three months ended March 31, 2021 (Predecessor), and the years ended December 31, 2020 (Predecessor) and December 31, 2019 (Predecessor) give effect to the Wind Down as if it were completed on January 1, 2019. The unaudited pro forma condensed consolidated statement of financial condition as of September 30, 2022 gives effect to the Wind Down as if it were completed on September 30, 2022. The discontinued operations adjustments for the Wind Down consist of those necessary to account for the Wind Down and are based on available information and certain assumptions that management believes are reasonable. Actual future results may be different than what is presented in these unaudited pro forma condensed consolidated financial statements.

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