0001828937false00018289372024-03-062024-03-060001828937exch:XNYSus-gaap:CommonClassAMember2024-03-062024-03-060001828937exch:CBSXus-gaap:CommonClassAMember2024-03-062024-03-06

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

March 6, 2024
Date of Report (date of earliest event reported)

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 classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per shareFOANew York Stock Exchange
Warrants to purchase shares of Class A Common StockFOA.WSNew 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 2.02.     Results of Operations and Financial Condition.

On March 6, 2024, Finance of America Companies Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and for its full year ended December 31, 2023. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01. Regulation FD Disclosure.

On March 6, 2024, the Company posted a presentation on its website for its investors, analysts and others. A copy of the presentation is furnished as Exhibit 99.2 hereto and is incorporated herein by reference.

The information furnished pursuant to this Item 7.01, including Exhibit 99.2, shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01.     Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number		  Description
 99.1*
  
 99.2*
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
* Furnished Herewith



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.
Date:March 6, 2024By:
/s/ Matthew A. Engel
Matthew A. Engel
     
Chief Financial Officer




FINANCE OF AMERICA REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS
– Net income from continuing operations of $171 million or $0.72 basic earnings per share for the quarter –
– 20% improvement on an adjusted net basis(1) over the prior quarter –
– Finished the year with 37% share of HECM Reverse market(2) –

Plano, Texas (March 6, 2024): Finance of America Companies Inc. (“Finance of America” or the “Company”) (NYSE: FOA), a modern retirement solutions platform, reported financial results for the quarter and year ended December 31, 2023.

Fourth Quarter and Full Year 2023 Highlights
•Net income from continuing operations for the fourth quarter of $171 million or $0.72 basic earnings per share primarily due to non-cash, positive fair value changes on long-term assets and liabilities combined with improved results from operations.
•For the quarter, the Company recognized an adjusted net loss(1) of $20 million or $0.09 per share, an improvement of 20% over the prior quarter.
•67% improvement in adjusted net loss in Retirement Solutions in the fourth quarter driven by higher revenue margin and reduced expenses compared to the prior quarter.
•For the full year, our subsidiary, Finance of America Reverse maintained 37% share of the HECM Reverse market.(2)
(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.
(2) Source: https://www.newviewadvisors.com/commentary/2023-full-year-hmbs-issuer-league-tables/; measured by HMBS issuance.


Graham A. Fleming, Chief Executive Officer commented, “2023 was a transformational period for Finance of America and I want to thank our entire team for their hard work and determination over the course of the year. We completed a series of strategic transactions that helped establish the Company as the preeminent platform for homeowners 55 and older seeking to benefit from their home equity. With most of these efforts now behind us, we are excited to move forward. As a business, we are firmly positioned as the leading provider of modern retirement solutions with the potential to reach tens of millions of customers nationwide.”


1    



(unaudited)
Fourth Quarter Financial Summary of Continuing Operations
($ amounts in millions, except per share data)
Variance (%)Variance (%)Variance (%)
Q4'23Q3'23Q4'23 vs Q3'23Q4'22Q4'23 vs Q4'22202320222023 vs 2022
Funded volume$446 $512 (13)%$701 (36)%$1,762 $5,076 (65)%
Total revenues276 (70)494 %65 325 %234 53 342 %
Total expenses and other, net95 102 (7)%107 (11)%392 386 2 %
Pre-tax income (loss) from continuing operations172 (173)199 %(48)458 %(167)(343)51 %
Net income (loss) from continuing operations171 (172)199 %(49)449 %(166)(326)49 %
Adjusted net income (loss)(1)
(20)(25)20 %(5)(300)%(87)54 (261)%
Adjusted EBITDA(1)
(18)(25)28 %1 (1,900)%(82)107 (177)%
Basic net earnings (loss) per share$0.72 $(0.74)197 %$(0.22)427 %$(0.75)$(1.03)27 %
Diluted net income (loss) per share(2)
$0.55 $(0.74)174 %$(0.22)350 %$(0.75)$(1.58)53 %
Adjusted earnings (loss) per share(1)
$(0.09)$(0.11)18 %$(0.03)(200)%$(0.40)$0.29 (238)%
(1) See the sections titled “Reconciliation to GAAP” and “Non-GAAP Financial Measures” for reconciliations to the most directly comparable GAAP measures and other important disclosures.
(2) Calculated on an if-converted basis except when anti-dilutive.

Balance Sheet Highlights
($ amounts in millions)December 31,September 30,Variance (%)
20232023Q4 2023 vs. Q3 2023
Cash and cash equivalents$46 $66 (30)%
Securitized loans held for investment (HMBS & nonrecourse)25,821 25,098 3 %
Total assets27,108 26,397 3 %
Total liabilities26,835 26,294 2 %
Total equity272 104 162 %

•Ended the fourth quarter with cash and cash equivalents from continuing operations of $46 million. The decrease in cash was attributable to investments in our balance sheet related to non-agency production.
•Securitized loans held for investment (HMBS & nonrecourse) increased 3% as new production combined with the positive change in fair value related to market rates and spreads.
•Total assets increased 3% in line with the change in securitized loans held for investment.
•Total liabilities increased $541 million on a sequential-quarter basis primarily due to increases in HMBS obligations and nonrecourse debt, aligned to the change in securitized loans held for investment.



2    



(unaudited)
Segment Results

Retirement Solutions
The Retirement Solutions segment primarily generates revenue and earnings in the form of net origination gains and origination fees earned on the origination of reverse mortgage loans.

Variance (%)Variance (%)Variance (%)
($ amounts in millions)
Q4'23Q3'23Q4'23 vs Q3'23Q4'22Q4'23 vs Q4'22202320222023 vs 2022
Funded volume$446 $512 (13)%$701 (36)%$1,762 $5,076 (65)%
Total revenue41 40 3 %32 28 %149 300 (50)%
Pre-tax income (loss)(13)(20)35 %(13)— %(60)117 (151)%
Adjusted net income (loss)(2)(6)67 %4 (150)%(12)122 (110)%
•Funded volume decreased 13% quarter over quarter due to minimal Home Improvement production, as a result of the continued wind-down of the Home Improvement business, seasonality and the commencement of a loan origination system migration in December. Within our Reverse business, funded volume decreased to $436 million, or down 7% from the prior quarter.
•Fourth quarter revenue increased 3% from the third quarter to $41 million as seasonal volume declines were more than offset by increased margins in our Reverse business.

Portfolio Management
The Portfolio Management segment generates revenue and earnings in the form of fair value gains or losses, gain on sale of loans, interest income, servicing income, fees for underwriting, advisory and valuation services and other ancillary fees.

Variance (%)Variance (%)Variance (%)
($ amounts in millions)Q4'23Q3'23Q4'23 vs Q3'23Q4'22Q4'23 vs Q4'22202320222023 vs 2022
Assets under management$26,773 $26,023 3 %$20,186 33 %$26,773 $20,186 33 %
Assets excluding HMBS and nonrecourse obligations1,515 1,232 23 %1,846 (18)%1,515 1,846 (18)%
Total revenue240 (103)333 %30 700 %115 (220)152 %
Pre-tax income (loss)217 (124)275 %3 7133 %25 (347)107 %
Adjusted net income— — — %7 (100)%6 16 (63)%

•Fourth quarter revenue was materially impacted by positive non-cash fair value adjustments on assets held for investment and related liabilities, as we updated model assumptions to account for changes in market interest rates, home price appreciation and credit spreads during the quarter.
•Excluding these adjustments, the segment was break-even for the quarter.

3    



(unaudited)
Reconciliation to GAAP
($ amounts in millions)(1)
Q4'23Q3'23Q4'2220232022
Reconciliation of net income (loss) from continuing operations to adjusted net income (loss) and adjusted EBITDA
Net income (loss) from continuing operations$171 $(172)$(49)$(166)$(326)
Add back: Benefit (provision) for income taxes(1)1 (1)1 17 
Net income (loss) from continuing operations before taxes 172 (173)(48)(167)(343)
Adjustments for:
Changes in fair value(2)
(221)120 12 (24)334 
Amortization and impairment of intangibles and other assets(3)
17 9 15 44 47 
Share-based compensation(4)
3 3 4 13 18 
Certain non-recurring costs(5)
2 6 9 14 19 
Adjusted net income (loss) before taxes(27)(34)(7)(118)76 
Benefit (provision) for income taxes(6)
7 8 2 31 (21)
Adjusted net income (loss)(20)(25)(5)(87)54 
Provision (benefit) for income taxes(6)
(7)(8)(2)(31)21 
Depreciation1 1 1 5 4 
Interest expense on non-funding debt8 8 7 31 28 
Adjusted EBITDA$(18)$(25)$1 $(82)$107 
($ amounts in millions except shares and $ per share)Q4'23Q3'23Q4'2220232022
GAAP PER SHARE MEASURES
Net income (loss) from continuing operations attributable to controlling interest$64 $(65)$(14)$(61)$(64)
Weighted average outstanding share count88,425,793 87,726,231 63,204,118 81,977,533 62,298,532 
Basic net income (loss) per share from continuing operations$0.72 $(0.74)$(0.22)$(0.75)$(1.03)
If-converted method net income (loss) from continuing operations$128 $(65)$(14)$(61)$(298)
Weighted average diluted share count229,300,885 87,726,231 63,204,118 81,977,533 188,236,513 
Diluted net income (loss) per share from continuing operations(7)
$0.55 $(0.74)$(0.22)$(0.75)$(1.58)
NON-GAAP PER SHARE MEASURES
Adjusted net income (loss)$(20)$(25)$(5)$(87)$54 
Weighted average share count229,300,885 229,166,288 187,822,766 219,051,258 188,236,513 
Adjusted earnings (loss) per share$(0.09)$(0.11)$(0.03)$(0.40)$0.29 
(1) Totals may not foot due to rounding.
(2) Changes in fair value include changes in fair value of loans and securities held for investment and related obligations, deferred purchase price obligations, contingent earnout, warrant liability, and minority investments.
(3) Includes amortization and impairment of intangibles and impairment of certain other long-lived assets during the periods presented.
(4) Includes equity-based compensation for Replacement Restricted Stock Units and Earnout Right Restricted Stock Units, which are funded 100% by existing non-controlling shareholders or outstanding Class A Common Stock.
4    



(unaudited)
(5) Certain non-recurring costs and adjustments that management believes should be excluded as these do not relate to a recurring part of the core business operations. These items include amounts recognized for settlement of legal and regulatory matters, acquisition or divestiture-related expenses, and other one-time charges.
(6) We applied an effective combined corporate tax rate to adjusted consolidated pre-tax income (loss) for the respective period to determine the tax effect of adjusted consolidated net income (loss).
(7) Calculated on an if-converted basis except when anti-dilutive.
5    



(unaudited)
Adjusted Net Income by Segment (Continuing Operations)
For the three months ended December 31, 2023
($ amounts in millions except shares and $ per share)(1)
Retirement
Solutions		Portfolio
Management		Corporate
& Other		FOA
Pre-tax income (loss)$(13)$217 $(33)$172 
Adjustments for:
Changes in fair value(2)
— (224)3 (221)
Amortization and impairment of intangibles and other assets(3)
9 6 1 17 
Share-based compensation(4)
1 — 2 3 
Certain non-recurring costs(5)
— — 2 2 
Adjusted net loss before taxes$(3)$— $(24)$(27)
Benefit for income taxes(6)
(1)— (6)(7)
Adjusted net loss$(2)$— $(18)$(20)
Weighted average share count229,300,885 229,300,885 229,300,885 229,300,885 
Adjusted loss per share$(0.01)$— $(0.08)$(0.09)

For the three months ended September 30, 2023
($ amounts in millions except shares and $ per share)(1)
Retirement
Solutions		Portfolio
Management		Corporate
& Other		FOA
Pre-tax loss$(20)$(124)$(28)$(173)
Adjustments for:
Changes in fair value(2)
— 124 (4)120 
Amortization of intangible assets(3)
9 — — 9 
Share-based compensation(4)
1 — 2 3 
Certain non-recurring costs(5)
1 — 4 6 
Adjusted net loss before taxes$(8)$— $(26)$(34)
Benefit for income taxes(6)
(2)— (6)(8)
Adjusted net loss$(6)$— $(19)$(25)
Weighted average share count229,166,288 229,166,288 229,166,288 229,166,288 
Adjusted loss per share$(0.03)$— $(0.08)$(0.11)

6    



(unaudited)
For the three months ended December 31, 2022
($ amounts in millions except shares and $ per share)(1)
Retirement
Solutions		Portfolio
Management		Corporate
& Other		FOA
Pre-tax income (loss)$(13)$3 $(37)$(48)
Adjustments for:
Changes in fair value(2)
— 6 6 12 
Amortization and impairment of intangibles and other assets(3)
13 — 2 15 
Share-based compensation(4)
1 — 2 4 
Certain non-recurring costs(5)
4 — 5 9 
Adjusted net income (loss) before taxes$5 $9 $(22)$(7)
Provision (benefit) for income taxes(6)
1 2 (6)(2)
Adjusted net income (loss)$4 $7 $(16)$(5)
Weighted average share count187,822,266 187,822,266 187,822,266 187,822,266 
Adjusted earnings (loss) per share$0.02 $0.04 $(0.09)$(0.03)

For the year ended December 31, 2023
($ amounts in millions except shares and $ per share)(1)
Retirement
Solutions		Portfolio
Management		Corporate
& Other		FOA
Pre-tax income (loss)$(60)$25 $(132)$(167)
Adjustments for:
Changes in fair value(2)
— (24)— (24)
Amortization and impairment of intangibles and other assets(3)
37 6 1 44 
Share-based compensation(4)
3 1 9 13 
Certain non-recurring costs(5)
3 1 10 14 
Adjusted net income (loss) before taxes$(16)$8 $(110)$(118)
Provision (benefit) for income taxes(6)
(4)2 (29)(31)
Adjusted net income (loss)$(12)$6 $(81)$(87)
Weighted average share count219,051,258 219,051,258 219,051,258 219,051,258 
Adjusted earnings (loss) per share$(0.06)$0.03 $(0.37)$(0.40)

7    



(unaudited)
For the year ended December 31, 2022
($ amounts in millions except shares and $ per share)(1)
Retirement
Solutions		Portfolio
Management		Corporate
& Other		FOA
Pre-tax income (loss)$117 $(347)$(113)$(343)
Adjustments for:
Changes in fair value(2)
— 362 (28)334 
Amortization and impairment of intangibles and other assets(3)
41 4 2 47 
Share-based compensation(4)
6 2 11 18 
Certain non-recurring costs(5)
1 1 17 19 
Adjusted net income (loss) before taxes$165 $22 $(111)$76 
Provision (benefit) for income taxes(6)
43 6 (29)21 
Adjusted net income (loss)$122 $16 $(83)$54 
Weighted average share count188,236,513 188,236,513 188,236,513 188,236,513 
Adjusted earnings (loss) per share$0.65 $0.09 $(0.44)$0.29 
(1) Totals may not foot due to rounding.
(2) Changes in fair value include changes in fair value of loans and securities held for investment and related obligations, deferred purchase price obligations, contingent earnout, warrant liability, and minority investments.
(3) Includes amortization and impairment of intangibles and impairment of certain long-lived assets recognized during the periods presented.
(4) Includes equity-based compensation for Replacement Restricted Stock Units and Earnout Right Restricted Stock Units, which are funded 100% by existing non-controlling shareholders or outstanding Class A Common Stock.
(5) Certain non-recurring costs and adjustments that management believes should be excluded as these do not relate to a recurring part of the core business operations. These items include amounts recognized for settlement of legal and regulatory matters, acquisition or divestiture-related expenses, and other one-time charges.
(6) We applied an effective combined corporate tax rate to adjusted consolidated pre-tax income (loss) for the respective period
to determine the tax effect of adjusted consolidated net income (loss).

8    
Finance of America Companies Inc. and Subsidiaries
Selected Financial Information
Consolidated Statements of Financial Condition
(In thousands, except share data)
(Unaudited)
December 31, 2023September 30, 2023
ASSETS
Cash and cash equivalents$46,482 $66,341 
Restricted cash178,319 216,273 
Loans held for investment, subject to HMBS related obligations, at fair value17,548,763 17,185,552 
Loans held for investment, subject to nonrecourse debt, at fair value8,272,393 7,912,759 
Loans held for investment, at fair value575,228 467,319 
Loans held for sale, at fair value4,246 23,956 
Intangible assets, net253,531 269,228 
Other assets, net221,907 247,678 
Assets of discontinued operations6,721 8,356 
TOTAL ASSETS$27,107,590 $26,397,462 
LIABILITIES AND EQUITY
HMBS related obligations, at fair value$17,353,720 $16,978,168 
Nonrecourse debt, at fair value7,904,200 7,812,570 
Other financing lines of credit928,479 852,813 
Notes payable, net (includes amounts due to related parties of $59,130 and $59,130, respectively)
410,911 411,124 
Payables and other liabilities219,569 220,818 
Liabilities of discontinued operations 18,304 18,360 
TOTAL LIABILITIES26,835,183 26,293,853 
EQUITY
Class A Common Stock, $0.0001 par value; 6,000,000,000 shares authorized; 100,599,241 and 92,038,371 shares issued, respectively, and 96,340,741 and 87,779,871 shares outstanding, respectively
10 9 
Class B Common Stock, $0.0001 par value; 1,000,000 shares authorized; 15 and 15 shares issued and outstanding, respectively
— — 
Additional paid-in capital946,929 940,717 
Accumulated deficit(714,383)(775,744)
Accumulated other comprehensive loss(249)(221)
Noncontrolling interest40,100 (61,152)
TOTAL EQUITY272,407 103,609 
TOTAL LIABILITIES AND EQUITY$27,107,590 $26,397,462 
9    
Finance of America Companies Inc. and Subsidiaries
Selected Financial Information
Consolidated Statements of Operations
(In thousands, except share data)
(Unaudited)
Q4'23Q3'23Q4'2220232022
REVENUES
Net fair value gains (losses) on loans and related obligations$292,203 $(53,135)$94,598 $322,329 $89,489 
Fee income10,073 13,201 9,590 43,450 81,815 
Loss on sale and other income from loans held for sale, net(1,530)(6,984)(5,689)(24,994)(5,931)
Net interest expense:
Interest income2,459 4,443 718 12,193 6,038 
Interest expense(27,473)(27,965)(34,610)(118,728)(118,649)
Net interest expense(25,014)(23,522)(33,892)(106,535)(112,611)
TOTAL REVENUES275,732 (70,440)64,607 234,250 52,762 
EXPENSES
Salaries, benefits, and related expenses37,850 48,557 43,252 178,319 206,943 
Loan production and portfolio related expenses5,194 6,370 11,896 26,490 52,079 
Loan servicing expenses7,455 8,000 7,250 30,729 33,063 
Marketing and advertising expenses9,729 11,491 1,459 31,896 13,031 
Depreciation and amortization9,939 9,954 9,959 42,369 42,028 
General and administrative expenses22,632 21,054 27,212 82,204 71,082 
TOTAL EXPENSES92,799 105,426 101,028 392,007 418,226 
IMPAIRMENT OF INTANGIBLES AND OTHER ASSETS(8,738)(558)(5,728)(9,296)(9,528)
OTHER, NET(2,641)3,853 (5,614)211 31,992 
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES171,554 (172,571)(47,763)(166,842)(343,000)
Provision (benefit) for income taxes from continuing operations193 (103)1,282 (593)(17,132)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS171,361 (172,468)(49,045)(166,249)(325,868)
NET LOSS FROM DISCONTINUED OPERATIONS(6,698)(2,464)(132,965)(51,909)(389,660)
NET INCOME (LOSS)164,663 (174,932)(182,010)(218,158)(715,528)
Noncontrolling interest103,302 (109,569)(124,987)(138,070)(524,846)
NET INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST$61,361 $(65,363)$(57,023)$(80,088)$(190,682)
EARNINGS PER SHARE
Basic weighted average shares outstanding88,425,793 87,726,231 63,204,118 81,977,533 62,298,532 
Basic net income (loss) per share from continuing operations$0.72 $(0.74)$(0.22)$(0.75)$(1.03)
Basic net income (loss) per share $0.69 $(0.75)$(0.90)$(0.98)$(3.06)
Diluted weighted average shares outstanding229,300,885 87,726,231 63,204,118 81,977,533 188,236,513 
Diluted net income (loss) per share from continuing operations$0.55 $(0.74)$(0.22)$(0.75)$(1.58)
Diluted net income (loss) per share $0.53 $(0.75)$(0.90)$(0.98)$(3.12)

10    

Webcast and Conference Call
Management will host a webcast and conference call on Wednesday, March 6th at 5:00 pm Eastern Time to discuss the Company’s results for the fourth quarter and full year ended December 31, 2023. A copy of this press release will be posted prior to the call under the “Investors” section on Finance of America’s website at https://www.financeofamerica.com/investors.
To listen to the audio webcast of the conference call, please visit the “Investors” section of the Company's website at https://www.financeofamerica.com/investors. The conference call can also be accessed by dialing the following:
a.1-800-715-9871 (Domestic)
b.1-646-307-1963 (International)
c.Conference ID: 5706924

Replay
A replay of the call will also be available on the Company's website approximately two hours after the conclusion of the conference call until March 20, 2024. To access the replay, dial 1-800-770-2030 (United States) or 1-646-307-1963 (International). The replay pin number is 5706924. The replay can also be accessed on the “Investors” section of the Company's website at https://www.financeofamerica.com/investors.

About Finance of America
Finance of America (NYSE: FOA) is a modern retirement solutions platform that provides customers with access to an innovative range of retirement offerings centered on the home. In addition, FOA offers capital markets and portfolio management capabilities primarily to optimize the distribution of its originated loans to investors. FOA is headquartered in Plano, Texas. For more information, please visit www.financeofamerica.com.

Forward-Looking Statements
This release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only management’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that our actual results, financial condition and liquidity may differ, possibly materially, from the anticipated results, financial condition and liquidity in these forward-looking statements. The Company’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. The Company cautions readers not to place undue reliance upon any forward-looking statements, which are current only as of the date of this release. Results for any specified quarter are not necessarily indicative of the results that may be expected for the full year or any future period. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. A number of important factors exist that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference
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include, but are not limited to: our ability to manage the unique challenges presented by operating as a modern retirement solutions platform rather than a vertically-integrated, diversified lending and complementary services platform due to the transformation of our business; our ability to successfully operate the recently integrated lending platform that we acquired from American Advisors Group in March 2023 and generally, our ability to operate our business profitably; our ability to respond to significant changes in prevailing interest rates and to resume profitable business operations; our geographic market concentration if the economic conditions in our current markets should decline or if our current markets are impacted by natural disasters; our use of estimates in measuring or determining the fair value of the majority of our financial assets and liabilities, which may require us to write down the value of these assets or write up the value of these liabilities if the estimates prove to be incorrect; our ability to prevent cyber intrusions and mitigate cyber risks; the possibility that the Company may be adversely affected by other economic, business and/or competitive factors in our business markets and worldwide financial markets, including a sustained period of higher interest rates; our ability to manage changes in our licensing status, business relationships or servicing guidelines with the Government National Mortgage Association, the United States Department of Housing and Urban Development or other governmental entities; our ability to obtain sufficient capital and liquidity to meet the financing and operational requirements of our business and our ability to comply with our debt agreements, including warehouse lending facilities, and pay down our substantial debt; our ability to refinance our debt on reasonable terms as it becomes due; our ability to manage disruptions in the secondary home loan market, including the mortgage-backed securities market; our ability to finance and recover costs of our reverse mortgage servicing operations; our ability to maintain compliance with the extensive regulations we are subject to, including consumer protection laws applicable to reverse mortgage lenders, which may be highly complex; our ability to compete with national banks, which are not subject to state licensing and operational requirements; our ability to manage various legal proceedings, federal or state governmental examinations and enforcement investigations we are subject to from time to time, the results of which are difficult to predict or estimate; our continued ability to remain in compliance with the terms of the consent orders issued by the Consumer Financial Protection Bureau, which we assumed in connection with our acquisition of operational assets from American Advisors Group; our holding company status and dependency on distributions from Finance of America Equity Capital LLC; our ability to comply with the continued listing standards of the New York Stock Exchange (“NYSE”) and avoid the delisting of our common stock from trading on its exchange; our common stock trading history has been characterized by low trading volume, which may result in an inability to sell your shares at a desired price, if at all; and our “controlled company” status under NYSE rules, which exempts us from certain corporate governance requirements and affords stockholders fewer protections.
All of these factors are difficult to predict, contain uncertainties that may materially affect actual results and may be beyond our control. New factors emerge from time to time, and it is not possible for our management to predict all such factors or to assess the effect of each such new factor on our business. Although we believe that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and any of these statements included herein may prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements, or our objectives and plans will be achieved. Please refer to “Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission (the “SEC”) on March 16, 2023, for further information on these and other risk factors affecting us, as such factors may be amended and updated from time to time in the Company’s subsequent periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov.

Non-GAAP Financial Measures
The Company’s management evaluates performance of the Company through the use of certain measures that are not prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), including Adjusted Net Income (Loss), Adjusted EBITDA, and Adjusted Earnings (Loss) per Share.
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We define Adjusted Net Income (Loss) as net income (loss) from continuing operations adjusted for changes in fair value of loans and securities held for investment and related obligations due to assumption changes, deferred purchase price obligations (including earnouts and Tax Receivable Agreement (“TRA”) obligations), contingent earnout, warrant liability, and minority investments, amortization and impairment of intangibles and other assets, equity-based compensation, certain non-recurring costs, and pro-forma income tax provision adjustments to apply an effective combined corporate tax rate to adjusted consolidated pre-tax income (loss) from continuing operations.
We define Adjusted EBITDA as Adjusted Net Income (Loss) (defined above) adjusted for taxes, interest on non-funding debt, and depreciation.
We define Adjusted Earnings (Loss) Per Share as Adjusted Net Income (Loss) (defined above) divided by our weighted average outstanding shares, which includes our outstanding Class A Common Stock plus Finance of America Equity Capital LLC’s Class A LLC units owned by our noncontrolling interests on an if-converted basis.
The presentation of non-GAAP measures is used to enhance investors’ understanding of certain aspects of our financial performance. This discussion is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP. Management believes these key financial measures provide an additional view of our performance over the long-term and provide useful information that we use in order to maintain and grow our business.
These non-GAAP financial measures should not be considered as an alternative to net income (loss), operating cash flows, or any other performance measures determined in accordance with U.S. GAAP. Adjusted Net Income (Loss), Adjusted EBITDA, and Adjusted Earnings (Loss) per Share have important limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Some of the limitations of these metrics are: (i) cash expenditures for future contractual commitments; (ii) cash requirements for working capital needs; (iii) cash requirements for certain tax payments; and (iv) all non-cash income/expense items.
Because of these limitations, Adjusted Net Income (Loss), Adjusted EBITDA, and Adjusted Earnings (Loss) per Share should not be considered as measures of discretionary cash available to us to invest in the growth of our business or distribute to shareholders. We compensate for these limitations by relying primarily on our U.S. GAAP results and using our non-GAAP financial measures only as a supplement. Users of our consolidated financial statements are cautioned not to place undue reliance on our non-GAAP financial measures.
A reconciliation of our forward-looking Adjusted Earnings per Share outlook to GAAP Earnings per Share and Net Income cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusted items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, the Company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future GAAP financial results.


Contacts:
For Finance of America Media: pr@financeofamerica.com
For Finance of America Investor Relations: ir@financeofamerica.com
13    
2024 Investor Presentation LAST UPDATED 03.06.2024

 
Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only management’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that our actual results, financial condition and liquidity may differ, possibly materially, from the anticipated results, financial condition and liquidity in these forward-looking statements. The Company’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. The Company cautions readers not to place undue reliance upon any forward-looking statements, which are current only as of the date of this release. Results for any specified quarter are not necessarily indicative of the results that may be expected for the full year or any future period. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. A number of important factors exist that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: the transformation of our business from a vertically-integrated, diversified lending platform to a modern retirement solutions platform, with access to an innovative range of retirement offerings centered on the home; our ability to obtain sufficient capital and liquidity to meet the financing and operational requirements of our business, and our ability to comply with our debt agreements and pay down our substantial debt; our recently closed asset acquisition from American Advisors Group and sale of our Commercial Originations and Lender Services businesses, and their respective expected benefits and increased liquidity, anticipated cost savings and financial and accounting impact; our ability to successfully and timely integrate the business of American Advisors Group into the legacy business of the Company; the possibility that the Company may be adversely affected by other economic, business and/or competitive factors in our business markets and worldwide financial markets, including a sustained period of higher interest rates and increased instability in the banking sector as a result of several recent bank failures; our ability to respond to significant changes in prevailing interest rates and to resume profitable business operations; our ability to manage disruptions in the secondary home loan market, including the mortgage-backed securities market; our ability to finance and recover costs of our reverse servicing operations; our ability to manage changes in our licensing status, business relationships, or servicing guidelines with Ginnie Mae, HUD or other governmental entities; our geographic market concentration if the economic conditions in our current markets should decline or as a result of natural disasters; our use of estimates in measuring or determining the fair value of the majority of our financial assets and liabilities, which may require us to write down the value of these assets or write up the value of these liabilities if they prove to be incorrect; our ability to manage various legal proceedings and compliance matters, federal or state governmental examinations and enforcement investigations we are subject to from time to time, including consumer protection laws applicable to reverse mortgage lenders, which may be highly complex and slow to develop, and results are difficult to predict or estimate; our ability to prevent cyber intrusions and mitigate cyber risks; our ability to compete with national banks, which are not subject to state licensing and operational requirements; our holding company status and dependency on distributions from Finance of America Equity Capital LLC; our “controlled company” status under New York Stock Exchange rules, which exempts us from certain corporate governance requirements and affords stockholders fewer protections; and our common stock trading history has been characterized by low trading volume, which may result in an inability to sell your shares at a desired price, if at all. All of these factors are difficult to predict, contain uncertainties that may materially affect actual results and may be beyond our control. New factors emerge from time to time, and it is not possible for our management to predict all such factors or to assess the effect of each such new factor on our business. Although we believe that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and any of these statements included herein may prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements, or our objectives and plans will be achieved. Please refer to “Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission (the “SEC”) on March 16, 2023, for further information on these and other risk factors affecting us, as such factors may be amended and updated from time to time in the Company’s subsequent periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Disclaimer 2

 
The Finance of America Investment Thesis SECTION 1 Our Great Ambition page 4 Investment Thesis page 5 Opportunity Details page 6-7 A Path Forward page 8-9 3

 
O U R G R E A T A M B I T I O N Unlocking America’s Greatest Retirement Asset Finance of America is making home equity part of a mainstream, modern retirement so that more Americans can benefit from their untapped wealth later in life. The current approach to paying for retirement unfortunately ends in $4T of financial shortfalls nationally and impacts millions of seniors. 2 The solution lies in unlocking home equity as a retirement funding source with financing purpose- built for the 55+ homeowner. $13 Trillion SENIOR HELD HOME EQUITY1Melanie from Lafeyette, CO A Finance of America Customer Source 1) https://www.nrmlaonline.org/about/press-releases/senior-home- equity-levels-reach-13-08t-in-q3 ; Source 2 ) deloitte.com/us/en/insights/industry/financial-services/closing-retirement- savings-gap.html 4

 
Home Equity for Retirement is Ripe for Disruption Our Distinctive Advantages: 01 Clear Market Leadership Dominant Distribution Footprint Innovation Engine Capital Markets Strength Digital Capabilities Lifelong Commitment to Borrower Deep Industry Experience I N V E S T M E N T T H E S I S The category only sees a fraction of the $13T total home equity seniors hold. Finance of America is ideally situated to catalyze category growth and capture first-mover advantage. 02 03 04 05 06 07 5

 
Home Equity is the Answer to a Secure Future for Seniors O P P O R T U N I T Y D E T A I L S $13.08 TRILLION RECORD AMOUNT OF SENIOR HOUSING WEALTH 1 79% OF AMERICANS AGES 65 OR OLDER OWN THEIR HOME2 Sources: 1) https://www.nrmlaonline.org/about/press-releases/senior-home-equity-levels-reach-13-08t-in-q3 ; 2) https://www.census.gov/housing/hvs/files/currenthvspress.pdf; 3) https://www.nrmlaonline.org/about/press-releases/senior-home-equity-levels-reach-13-08t- in-q3 ; https://fred.stlouisfed.org/series/OEHRENWBSHNO ; 4) https://www.federalreserve.gov/publications/october-2023-changes-in-us-family-finances-from- 2019-to-2022.htm ; https://www.urban.org/urban-wire/expanding-access-home-equity-could-improve-financial-security-older-homeowners 40% 54% OF U.S. SENIORS’ NET WORTH IS COMPRISED OF HOME EQUITY4 OF TOTAL HOME EQUITY IN THE U.S. HELD BY SENIORS IN 2023.3 6

 
O P P O R T U N I T Y D E T A I L S 10,000 PEOPLE PER DAY WHO REACH RETIREMENT AGE IN U.S. 1 ($3.68T) ESTIMATED RETIREMENT SAVINGS SHORTFALL FOR SENIORS IN U.S.2 1 in 3 WORRY THAT THEY WILL NOT HAVE ENOUGH MONEY TO LIVE COMFORTABLY IN RETIREMENT3 Advances in healthcare have led to longer lifespans. Life expectancy has more than doubled since the early 1900s.4 Nearly a third of this cohort spends as much as 30% of their income on housing costs.5 Healthcare cost inflation is expected to remain high at 7% throughout 2024, outpacing the expected overall inflation rate. 6 Source 1) census.gov/library/stories/2019/12/by-2030-all-baby-boomers-will-be-age-65-or-older.html, Source 2) www2.deloitte.com/us/en/insights/industry/financial-services/closing-retirement-savings- gap.html; Source 3) explorehomeequity.far.com/hubfs/FAR-Branded%20Report%20%5BHarris%20Poll%202023%5D_V04.pdf; Source 4) longevity.stanford.edu/the-new-map-of-life-report/ - 1637124315004-b149a6e6-23ec; Source 5) deepblue.lib.umich.edu/bitstream/handle/2027.42/172128/0268_NPHA-Aging-in-Place-report-FINAL.pdf?sequence=4&isAllowed=y; Source 6) pwc.com/us/en/industries/health-industries/library/behind-the-numbers.html SeniorsWill Need Access to Their Housing Wealth Dave from Montecito, CA A Finance of America Customer H O M E E Q U I T Y I S A T O O L T H A T A D D R E S S E S M O R E T H A N M E R E S U R V I V A L . I T C A N A L S O B E L E V E R A G E D T O H E L P R E T I R E E S M A K E A G O O D R E T I R E M E N T G R E A T . 7

 
“As the world has changed, many maturing adults have been given the gift of an extra 20-30 years compared to previous generations. But this gift isn’t free. Hard work is needed to increase the odds of not only living longer, but also living well. Nobody said it will be easy, but putting a plan in place will help people arrive at old age physically fit, socially engaged, and financially secure.” - LIFE PLANNING IN THE AGE OF LONGEVITY: INSIGHTS FOR BOOMERS, 2017, STANFORD CENTER ON LONGEVITY Ann from Glendale, CA A Finance of America Customer A P A T H F O R W A R D 8

 
New Thinking Will Connect Consumer Needs & Solutions MAKE HOME EQUITY FOR RETIREMENT MAINSTREAM . Elevate our brand and financial product offerings to break the adoption barrier and offer a customer-centric experience that builds confidence and exceeds expectations. We believe these efforts can dramatically increase the number of customers we serve and enable them to thrive in retirement. 1Modernized Messaging 2Progressive Digital Experiences 3Unparalleled Customer Care 4Attract A New Kind of Borrower A P A T H F O R W A R D 9

 
The Finance of America Distinctive Advantages SECTION 2 Clear Market Leadership page 11 Dominant Distribution Footprint page 12 Digital Capabilities page 16-18 Lifelong Commitment to Borrower page 19 Innovation Engine page 13-14 Capital Markets Strength page 15 Deep Industry Experience page 20 10

 
01 Clear Market Leadership 36.9% HECM MARKET SHARE IN 20232 $10.2bn PROPRIETARY LOAN ASSETS SECURITIZED FROM 2018 - 2023 26 SECURITIZATIONS COMPLETED BETWEEN 2018 AND 2023 $0 LOSSES ON SECURITIZED BONDS* 950 EMPLOYEES IN BUSINESS 20 YEARS #1 REVERSE MORTGAGE LENDER & SERVICER 1 LEADER IN REVERSE MORTGAGE INDUSTRY $17.8bn REVERSE MORTGAGE FUNDED VOLUME FROM 2018 – 2023 The largest and longest operating reverse mortgage provider in the industry.1 Sources 1) Reverse Mortgage Insight (RMI) as of 12/31/2023; 2) newviewadvisors.com/commentary/2023-full-year-hmbs-issuer-league-tables/ The Company information presented in this slide is as of 12/31/23 *Our historical performance is not indicative of future performance. Our history of no bond losses is related to our proprietary reverse loan securitization program where we have a history of exercising our optional call right which results in a full redemption of the related securitized bonds. No assurance can be given as to whether or not we will continue to optionally call our transactions in the future. As of the date of this presentation, there has been no principal loss in respect of such bonds. 11

 
A strong foundation for broad reach, distribution & influence. Retail Platform • Broad Marketing Reach with Advertising Reaching 20 million Consumers Annually • Over $1bn Advertising Investment Since Inception of the AAG Brand • State-of–the–art Call Center • Industry-leading Sales and Conversion Process • Multi-point Customer Journey • Leadership Position • Immense Scale • Growing Broker Originator Market • Activating and empowering brokers across the U.S. • Industry-leading Marketing Resources Platform • Thought Leadership and Education Wholesale Platform Strategic Partnerships *Advisor Workstation and the Advisor Workstation logo are service marks or trademarks of Morningstar and are used with permission. Morningstar is not affiliated with Finance of America and is not responsible for the contents of these materials or the performance of any products/services made available by Finance of America. 02 Dominant Distribution Footprint 12

 
03 Innovation Engine Developing Demand Driven Solutions Finance of America’s Innovative Home Equity Product Strategy Solves for Customer Need Gap 13

 
Ann from Glendale, CA A Real Finance of America Customer Leading Product Franchise Finance of America is the industry leader in product innovation. We are the first in developing cutting-edge solutions to fill market gaps. Flagship Proprietary Jumbo Reverse Mortgage, Offers Loans up to $4m Nation’s Only Second Lien Reverse Mortgage that Allows Borrowers to Keep a Low-rate Forward 1st Mortgage Agency Product, FHA Insured Loans (Must be age 62+) Ground-Breaking Retirement Mortgage Combining Elements of a Forward and Rev se Mortgage A L L P R O D U C T S D E L I V E R C A S H F L O W B E N E F I T S , D E S I G N E D F O R L I F E A F T E R 5 5 * 03 Innovation Engine *Subject to State Age Requirements and Availability 14

 
04 Capital Markets Strength • Longest running active securitization shelf for proprietary reverse mortgages • First HECM Buyout shelf to use a reinvestment feature to better manage the active HECM Buyout pipeline • No Losses on Securitized Bonds* O V E R $ 1 0 . 2 B I L L I O N N O T I O N A L I S S U E D Launch of Securitization Shelf: First to reintroduce securitizations of non- agency reverse mortgages since 2008 COVID-19: Finance of America was the only originator able to securitize proprietary reverse mortgage loans during this time Over the last 6 years, macro-economic events created challenges for the reverse mortgage industry, yet Finance of America maintained consistent secondary market performance in volatile conditions Industry Headwinds: Securitizations remain consistent during Q2 banking crisis and interest hikes The Longest Running Active Securitization Shelf 2018 2 Deals 2019 4 Deals 2020 7 Deals 2021 4 Deals 2022 6 Deals 2023 4 Deals *Our historical performance is not indicative of future performance. Our history of no bond losses is related to our proprietary reverse loan securitization program where we have a history of exercising our optional call right which results in a full redemption of the related securitized bonds. No assurance can be given as to whether or not we will continue to optionally call our transactions in the future. As of the date of this presentation, there has been no principal loss in respect of such bonds. The Company information presented in this slide is as of 12/31/23 15

 
05 Digital Capabilities Redefining the Digital Experience Our commitment to innovation is not just about staying ahead of the curve—it's about redefining it. We are investing in our digital core to turn the complexity of navigating reverse solutions into simple and accessible customer experiences that drive growth. Proprietary research, dedicated experience teams, and AI tools have the potential to fuel a reverse mortgage revolution. F I N A N C E O F A M E R I C A I S D E V E L O P I N G M O D E R N T O O L S A C R O S S T H E C U S T O M E R J O U R N E Y . 62% OF THOSE 50+ USED ONLINE FINANCE AND BANKING APPS IN THE LAST 3 MONTHS - AARP 2023 STUDY 1 72% OF ADULTS AGES 50–59 SAY THEY HAVE THE DIGITAL SKILLS NECESSARY TO FULLY TAKE ADVANTAGE OF BEING ONLINE - AARP 2023 STUDY2 “Because of this higher level of digital literacy today’s seniors exhibit very different patterns of behavior.” - NIELSON NORMAN GROUP STUDY3 16 Sources 1) aarp.org/content/dam/aarp/research/surveys_statistics/technology/2023/fintech-adoption-attitudes.doi.10.26419-2Fres.00608.001.pdf ; 2) aarp.org/pri/topics/technology/internet-media-devices/2024-technology-trends-older- adults.html#:~:text=While%2072%25%20of%20adults%20ages,slightly%20in%20the%20past%20year 3) nngroup.com/articles/usability-for-senior-citizens/

 
Prioritizing Best-in- Class Digital and Loan Origination Tools A N E W D I G I T A L L Y E N A B L E D J O U R N E Y S I M P L I F I E D A N D D E E P L Y I N T E G R A T E D T O E X P L O R E H O M E E Q U I T Y I N R E T I R E M E N T 05 Digital Capabilities The digital interfaces shown here are in the process of being developed. Our Company is prioritizing the implementation of these digital experiences. 17

 
AI Powered Lending At Finance of America, we’re actively integrating cutting-edge AI technologies across our operations for efficiency, accuracy, and speed, enabling us to focus on what truly matters: helping our customers thrive in retirement AI-Driven Marketing We're revolutionizing engagement with our customers by leveraging AI in our marketing platforms for swift content creation and will soon add real-time media and other touchpoint optimization along with personalized messaging to enhance funnel conversion. AI Empowerment By blending AI-enhanced staff with innovative processes, we are redefining excellence in the reverse mortgage sector. Employees already leverage AI for routine tasks and will use it to streamline core business processes, resulting in shorter turn times and higher pull- through rates, all to provide an unmatched customer experience that goes beyond the expected. AI Leadership Is Built On Data As America’s largest reverse mortgage lender, we believe our dataset is unparalleled in the industry, positioning Finance of America to uniquely harness AI's transformative power. This vast data reservoir will enable us to build custom AI tools with precision and at scale. 05 Digital Capabilities Mark from West Hills, CA A Finance of America Customer While our Company has implemented certain AI initiatives, we are in the process of developing a regulatory and compliance framework in order to further optimize use of AI within our business. 18

 
Dennis and Evelyn from Aurora, CO Finance of America Customers Excellence Extends Beyond the Transaction into Post-funding Relationship C O N T I N U O U S C O N T A C T , E D U C A T I O N A N D R E S O U R C E S R E I N F O R C E P O S I T I V E O U T C O M E S . Personal contact with borrower and family members to ensure a graceful exit at maturity event Borrower Engagement Team maintains contact for life of loan providing education and resources Finance of America Social Bond Securitizations1 Aligned with ICMA's Social Bond Principles, we are dedicated to providing credit access to the elderly. This provides social benefit by: • Allowing borrowers to stay in their homes longer • Aiding elderly borrowers in accessing basic services • Providing access to their home equity while eliminating monthly mortgage payments • Providing access to money that helps them remain in their communities instead of being forced into assisted living facilities. Finance of America is the only U.S. reverse issuer to have received SPO for social bond designation according to publicly available information. 1) *Finance of America Social Bond SPOs are available here. 06 Lifelong Commitment to Borrower 19

 
Finance of America Companies is led by a close-knit group of long-time colleagues with deep industry expertise. Graham Fleming CEO 25 years in mortgage 07 Deep Industry Experience Kristen Sieffert President 20 years in mortgage Matt Engel Chief Financial Officer 30 years in mortgage Jeremy Prahm Chief Investment Officer 20 years in mortgage Lauren Richmond Chief Legal Officer and General Counsel; Secretary 8 years in mortgage 20

 
Let’s Unlock America’s Greatest Retirement Asset For more information visit us online: IR.FinanceOfAmerica.com Or email us at: IR@FinanceOfAmerica.com 21

 
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Document and Entity Information Document
Mar. 06, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Mar. 06, 2024
Entity Registrant Name FINANCE OF AMERICA COMPANIES INC.
Entity Central Index Key 0001828937
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 001-40308
Entity Tax Identification Number 85-3474065
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NEW YORK STOCK EXCHANGE, INC. [Member] | Common Class A [Member]  
Entity Information [Line Items]  
Title of 12(b) Security Class A Common Stock, par value $0.0001 per share
Trading Symbol FOA
Security Exchange Name NYSE
CBOE STOCK EXCHANGE [Member] | Common Class A [Member]  
Entity Information [Line Items]  
Title of 12(b) Security Warrants to purchase shares of Class A Common Stock
Trading Symbol FOA.WS
Security Exchange Name NYSE
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