Finance of America Companies Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Business Segment Reporting (Tables)

Business Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2021

Summary of Financial Information By Segment

The following tables are a presentation of financial information by segment for the periods indicated (in thousands):


	April 1, 2021 to June 30, 2021
	Successor
	Mortgage Originations			Reverse Originations			Commercial Originations		Portfolio Management			Lender Services			Total Operating Segments			Corporate and Other			Elim			Total
REVENUES
Gain on sale of loans, net	$	185,386		$	—		$	—	$	7,748		$	—		$	193,134		$	—		$	(5,557	)	$	187,577
Net fair value gains		—			94,536			10,822		11,223			—			116,581			—			14,570			131,151
Fee income		30,345			954			12,124		3,577			81,130			128,130			—			(37,266	)		90,864
Net interest income (expense)		1,976			(9	)		—		(15,851	)		(15	)		(13,899	)		(6,567	)		(9	)		(20,475	)

Total revenues		217,707			95,481			22,946		6,697			81,115			423,946			(6,567	)		(28,262	)		389,117
Total expenses		224,191			42,246			20,049		33,190			73,317			392,993			36,021			(28,262	)		400,752
Other, net		—			104			140		(245	)		83			82			(2,185	)		—			(2,103	)

Net (loss) income before taxes	$	(6,484	)	$	53,339		$	3,037	$	(26,738	)	$	7,881		$	31,035		$	(44,773	)	$	—		$	(13,738	)

Depreciation and amortization	$	1,433		$	(151	)	$	127	$	(107	)	$	2,818		$	4,120		$	12,342		$	—		$	16,462
Total assets		2,994,779			768,229			109,434		17,996,903			336,687		$	22,206,032			2,115,780			(2,093,874	)	$	22,227,938

	January 1, 2021 to March 31, 2021
	Predecessor
	Mortgage Originations			Reverse Originations			Commercial Originations		Portfolio Management			Lender Services			Total Operating Segments			Corporate and Other			Elim			Total
REVENUES
Gain on sale of loans, net	$	286,481		$	—		$	—	$	5,065		$	—		$	291,546		$	—		$	(212	)	$	291,334
Net fair value gains		—			68,449			5,431		2,750			—			76,630			—			33			76,663
Fee income		32,731			524			8,930		36,191			76,383			154,759			—			6,612			161,371
Net interest expense		891			—			—		(14,816	)		(36	)		(13,961	)		(7,744	)		—			(21,705	)

Total revenues		320,103			68,973			14,361		29,190			76,347			508,974			(7,744	)		6,433			507,663
Total expenses		224,246			23,693			13,391		24,406			62,970			348,706			18,683			5,955			373,344
Other, net		—			34			149		895			2			1,080			(9,464	)		(478	)		(8,862	)

Net income (loss) before taxes	$	95,857		$	45,314		$	1,119	$	5,679		$	13,379		$	161,348		$	(35,891	)	$	—		$	125,457

Depreciation and amortization	$	1,423		$	151		$	125	$	146		$	1,268		$	3,113		$	371		$	—		$	3,484
Total assets		2,425,529			35,861			82,375		17,378,088			125,317		$	20,047,170			379,562			(326,313	)	$	20,100,419


	For the three months ended June 30, 2020
	Predecessor
	Mortgage Originations		Reverse Originations		Commercial Originations			Portfolio Management			Lender Services			Total Operating Segments			Corporate and Other			Elim			Total
REVENUES
Gain on sale of loans, net	$	298,333	$	—	$	—		$	—		$	—		$	298,333		$	—		$	(42	)	$	298,291
Net fair value gains		—		54,689		21			57,237			—			111,947			—			356			112,303
Fee income		33,795		509		350			1,431			44,312			80,397			28			(3,769	)		76,656
Net interest expense		778		—		—			(19,708	)		(42	)		(18,972	)		(2,804	)		(15	)		(21,791	)

Total revenues		332,906		55,198		371			38,960			44,270			471,705			(2,776	)		(3,470	)		465,459
Total expenses		215,958		22,156		6,552			21,374			39,554			305,594			16,573			(3,470	)		318,697

Other, net		—		—		—			—			—			—			(28	)		—			(28	)

Net income (loss) before taxes	$	116,948	$	33,042	$	(6,181	)	$	17,586		$	4,716		$	166,111		$	(19,377	)	$	—		$	146,734

Depreciation and amortization	$	1,520	$	286	$	142		$	11		$	1,050		$	3,009		$	479		$	—		$	3,488
Total assets	$	1,816,879	$	86,335	$	59,439		$	16,194,177		$	92,413		$	18,249,243		$	484,973		$	(638,216	)	$	18,096,000

	For the six months ended June 30, 2020
	Predecessor
	Mortgage Originations		Reverse Originations		Commercial Originations			Portfolio Management			Lender Services			Total Operating Segments			Corporate and Other			Elim			Total
REVENUES
Gain on sale of loans, net	$	425,624	$	—	$	—		$	5,617		$	—		$	431,241		$	—		$	(2,266	)	$	428,975
Net fair value gains		—		89,278		8,582			25,881			—			123,741			—			1,942			125,683
Fee income		54,322		1,112		11,185			2,392			85,570			154,581			44			(7,998	)		146,627
Net interest expense		1,264		—		—			(44,481	)		(33	)		(43,250	)		(4,220	)		(82	)		(47,552	)

Total revenues		481,210		90,390		19,767			(10,591	)		85,537			666,313			(4,176	)		(8,404	)		653,733
Total expenses		354,149		40,740		22,442			38,746			78,149			534,226			23,222			(8,404	)		549,044

Other, net		—		—		—			—			—			—			(44	)		—			(44	)

Net income (loss) before taxes	$	127,061	$	49,650	$	(2,675	)	$	(49,337	)	$	7,388		$	132,087		$	(27,442	)	$	—		$	104,645

Depreciation and amortization	$	3,087	$	455	$	306		$	23		$	2,105		$	5,976		$	981		$	—		$	6,957
Total assets	$	1,816,879	$	86,335	$	59,439		$	16,194,177		$	92,413		$	18,249,243		$	484,973		$	(638,216	)	$	18,096,000