| Schedule of Change in Presentation |
As a result of the change, the Company’s previously reported revenues have been reclassified to reflect the updated presentation as follows: Reconciliation of the previously reported Consolidated Statements of Operations captions to the current presentation:
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| For the year ended December 31, 2023 |
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Total |
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Net fair value gains on loans and related obligations |
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Fee income |
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Loss on sale and other income from loans held for sale, net |
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Interest income |
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Interest expense |
| Finance of America Companies Inc. as previously reported |
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$ |
234,250
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$ |
322,329
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$ |
43,450
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$ |
(24,994) |
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$ |
12,193
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$ |
(118,728) |
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| Reconciliation to current presentation: |
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| PORTFOLIO INTEREST INCOME |
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| Interest income |
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1,628,877
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1,617,954 |
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— |
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— |
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10,923 |
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— |
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| Interest expense |
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(1,360,998) |
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(1,273,159) |
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— |
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— |
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— |
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(87,839) |
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| NET PORTFOLIO INTEREST INCOME |
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267,879
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344,795 |
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— |
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— |
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10,923 |
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(87,839) |
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| OTHER INCOME (EXPENSE) |
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| Net origination gains |
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121,646
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121,646 |
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— |
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— |
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— |
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— |
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| Gain on securitization of HECM tails, net |
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25,583
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25,583 |
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— |
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— |
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— |
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— |
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| Fair value changes from model amortization |
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(228,391) |
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(228,391) |
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— |
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— |
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— |
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— |
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| Fair value changes from market inputs or model assumptions |
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58,696
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58,696 |
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— |
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— |
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— |
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— |
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| Net fair value changes on loans and related obligations |
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(22,466) |
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(22,466) |
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— |
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— |
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— |
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— |
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| Fee income |
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43,450
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— |
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43,450 |
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— |
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— |
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— |
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| Loss on sale and other income from loans held for sale, net |
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(24,994) |
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— |
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— |
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(24,994) |
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— |
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— |
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| Non-funding interest expense, net |
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(29,619) |
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— |
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— |
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— |
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1,270 |
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(30,889) |
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| NET OTHER INCOME (EXPENSE) |
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(33,629) |
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(22,466) |
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43,450 |
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(24,994) |
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1,270 |
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(30,889) |
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| TOTALS |
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$ |
234,250
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$ |
322,329 |
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$ |
43,450 |
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$ |
(24,994) |
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$ |
12,193 |
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$ |
(118,728) |
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