2023 Q4 Form 10-K Financial Statement

#000182893724000024 Filed on March 15, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $303.2M $234.3M
YoY Change 125.56% -59.14%
Cost Of Revenue $12.65M $57.22M
YoY Change
Gross Profit $290.6M $295.8M
YoY Change
Gross Profit Margin 95.83% 126.26%
Selling, General & Admin $70.21M $292.4M
YoY Change -67.37% -74.54%
% of Gross Profit 24.16% 98.87%
Research & Development $32.95M
YoY Change -41.87%
% of Gross Profit 11.14%
Depreciation & Amortization $9.939M $47.55M
YoY Change -26.84%
% of Gross Profit 3.42% 16.08%
Operating Expenses $80.15M $392.0M
YoY Change -62.75% -65.87%
Operating Profit $210.4M -$96.25M
YoY Change
Interest Expense -$27.47M $118.7M
YoY Change -32.73% -21.75%
% of Operating Profit -13.06%
Other Income/Expense, Net -$2.641M $15.72M
YoY Change -51.12% -72.1%
Pretax Income $171.6M -$166.8M
YoY Change -194.63% -77.21%
Income Tax $193.0K -$593.0K
% Of Pretax Income 0.11%
Net Earnings $61.36M -$80.09M
YoY Change -207.61% -58.0%
Net Earnings / Revenue 20.24% -34.19%
Basic Earnings Per Share -$0.98
Diluted Earnings Per Share $0.26 -$0.98
COMMON SHARES
Basic Shares Outstanding 81.98M shares
Diluted Shares Outstanding 81.98M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.48M $46.48M
YoY Change -52.26% -52.26%
Cash & Equivalents $46.48M $46.48M
Short-Term Investments
Other Short-Term Assets $178.3M $178.3M
YoY Change -0.98% -0.98%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $224.8M $224.8M
YoY Change 130.89% 130.89%
LONG-TERM ASSETS
Property, Plant & Equipment $5.967M $29.37M
YoY Change -68.62% 54.44%
Goodwill
YoY Change
Intangibles $253.5M
YoY Change -32.31%
Long-Term Investments $26.40B $26.40B
YoY Change 32.75% 32.75%
Other Assets $228.6M $228.6M
YoY Change -53.71% -53.71%
Total Long-Term Assets $26.88B $26.88B
YoY Change 29.4% 29.4%
TOTAL ASSETS
Total Short-Term Assets $224.8M $224.8M
Total Long-Term Assets $26.88B $26.88B
Total Assets $27.11B $27.11B
YoY Change 29.87% 29.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $106.4M $106.4M
YoY Change -6.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $487.9M $487.9M
YoY Change -82.45% -82.45%
Total Short-Term Liabilities $219.6M $219.6M
YoY Change -19.6% -19.6%
LONG-TERM LIABILITIES
Long-Term Debt $26.60B $26.60B
YoY Change 31.7% 31.7%
Other Long-Term Liabilities $18.30M $18.30M
YoY Change -68.14% -68.46%
Total Long-Term Liabilities $26.62B $26.62B
YoY Change 31.8% 31.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $219.6M $219.6M
Total Long-Term Liabilities $26.62B $26.62B
Total Liabilities $26.84B $26.88B
YoY Change 31.11% 30.34%
SHAREHOLDERS EQUITY
Retained Earnings -$714.4M
YoY Change 12.63%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $232.3M $232.3M
YoY Change
Total Liabilities & Shareholders Equity $27.11B $27.11B
YoY Change 29.87% 29.87%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $61.36M -$80.09M
YoY Change -207.61% -58.0%
Depreciation, Depletion And Amortization $9.939M $47.55M
YoY Change -26.84%
Cash From Operating Activities -$61.37M -$71.57M
YoY Change -117.7% -105.08%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions $140.9M
YoY Change
Other Investing Activities $18.84M $5.328M
YoY Change -111.71% -14.52%
Cash From Investing Activities $18.84M $158.1M
YoY Change -111.56% -108.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.23M -$139.2M
YoY Change -94.67% -161.82%
NET CHANGE
Cash From Operating Activities -61.37M -$71.57M
Cash From Investing Activities 18.84M $158.1M
Cash From Financing Activities -15.23M -$139.2M
Net Change In Cash -57.76M -$52.64M
YoY Change -43.31% -71.73%
FREE CASH FLOW
Cash From Operating Activities -$61.37M -$71.57M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023 foa Restricted Stock Value Shares Issued Cancelled Net Of Tax Withholdings
RestrictedStockValueSharesIssuedCancelledNetOfTaxWithholdings
2226000 usd
CY2023 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
30000000 usd
CY2023 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
33172000 usd
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
24000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
272407000 usd
CY2023 us-gaap Profit Loss
ProfitLoss
-218158000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-715528000 usd
CY2023 us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
-27216000 usd
CY2022 us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
211018000 usd
CY2023 foa Unrealized Changes On Mortgage Loans Related Obligations And Derivatives
UnrealizedChangesOnMortgageLoansRelatedObligationsAndDerivatives
307152000 usd
CY2022 foa Unrealized Changes On Mortgage Loans Related Obligations And Derivatives
UnrealizedChangesOnMortgageLoansRelatedObligationsAndDerivatives
60260000 usd
CY2023 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
3067000 usd
CY2022 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
-23026000 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
47545000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
64991000 usd
CY2023 foa Change In Fair Value Of Non Recourse Mortgage Servicing Right Financing Liability
ChangeInFairValueOfNonRecourseMortgageServicingRightFinancingLiability
748000 usd
CY2022 foa Change In Fair Value Of Non Recourse Mortgage Servicing Right Financing Liability
ChangeInFairValueOfNonRecourseMortgageServicingRightFinancingLiability
-8162000 usd
CY2023 foa Impairment Of Intangibles And Other Assets
ImpairmentOfIntangiblesAndOtherAssets
13751000 usd
CY2022 foa Impairment Of Intangibles And Other Assets
ImpairmentOfIntangiblesAndOtherAssets
192509000 usd
CY2023 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
678000 usd
CY2022 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-16768000 usd
CY2023 foa Unrealized Gain Loss Due To Fair Value Of Deferred Purchase Price Liabilities
UnrealizedGainLossDueToFairValueOfDeferredPurchasePriceLiabilities
-552000 usd
CY2022 foa Unrealized Gain Loss Due To Fair Value Of Deferred Purchase Price Liabilities
UnrealizedGainLossDueToFairValueOfDeferredPurchasePriceLiabilities
11207000 usd
CY2023 us-gaap Gain Loss On Investments
GainLossOnInvestments
-16845000 usd
CY2022 us-gaap Gain Loss On Investments
GainLossOnInvestments
-6925000 usd
CY2023 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
24667000 usd
CY2022 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
47857000 usd
CY2023 foa Noncash Lease Expense
NoncashLeaseExpense
-3028000 usd
CY2022 foa Noncash Lease Expense
NoncashLeaseExpense
6537000 usd
CY2023 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
2186000 usd
CY2022 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
3351000 usd
CY2023 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
211485000 usd
CY2022 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
14313496000 usd
CY2023 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
530529000 usd
CY2022 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
16174272000 usd
CY2023 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
33000 usd
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-4380000 usd
CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-33759000 usd
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-421323000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-31825000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-162425000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-71568000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1407819000 usd
CY2023 us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
3053899000 usd
CY2022 us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
6165003000 usd
CY2023 us-gaap Proceeds From Sale Of Loans And Leases Held For Investment
ProceedsFromSaleOfLoansAndLeasesHeldForInvestment
1927773000 usd
CY2022 us-gaap Proceeds From Sale Of Loans And Leases Held For Investment
ProceedsFromSaleOfLoansAndLeasesHeldForInvestment
2178473000 usd
CY2023 foa Purchases And Origination Of Mortgage Loans Held For Investment Subject To Nonrecourse Debt
PurchasesAndOriginationOfMortgageLoansHeldForInvestmentSubjectToNonrecourseDebt
76031000 usd
CY2022 foa Purchases And Origination Of Mortgage Loans Held For Investment Subject To Nonrecourse Debt
PurchasesAndOriginationOfMortgageLoansHeldForInvestmentSubjectToNonrecourseDebt
117009000 usd
CY2023 foa Payments On Mortgage Loans Held For Investment Subject To Nonrecourse Debt
PaymentsOnMortgageLoansHeldForInvestmentSubjectToNonrecourseDebt
1349682000 usd
CY2022 foa Payments On Mortgage Loans Held For Investment Subject To Nonrecourse Debt
PaymentsOnMortgageLoansHeldForInvestmentSubjectToNonrecourseDebt
1846937000 usd
CY2023 us-gaap Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
85628000 usd
CY2022 us-gaap Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
473794000 usd
CY2023 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
140854000 usd
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2023 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
71166000 usd
CY2022 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0 usd
CY2023 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 usd
CY2022 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
20000000 usd
CY2023 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
5328000 usd
CY2022 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
16267000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
158137000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1819075000 usd
CY2023 foa Proceeds From Issuance Of Hmbs Related Obligations
ProceedsFromIssuanceOfHmbsRelatedObligations
2140795000 usd
CY2022 foa Proceeds From Issuance Of Hmbs Related Obligations
ProceedsFromIssuanceOfHmbsRelatedObligations
2863667000 usd
CY2023 foa Payments On Hmbs Related Obligations
PaymentsOnHMBSRelatedObligations
1924130000 usd
CY2022 foa Payments On Hmbs Related Obligations
PaymentsOnHMBSRelatedObligations
2325269000 usd
CY2023 foa Proceeds From Issuance Of Nonrecourse Debt
ProceedsFromIssuanceOfNonrecourseDebt
1728914000 usd
CY2022 foa Proceeds From Issuance Of Nonrecourse Debt
ProceedsFromIssuanceOfNonrecourseDebt
3418437000 usd
CY2023 foa Payments On Nonrecourse Debt
PaymentsOnNonrecourseDebt
1597531000 usd
CY2022 foa Payments On Nonrecourse Debt
PaymentsOnNonrecourseDebt
1879198000 usd
CY2023 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
4592432000 usd
CY2022 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
21473732000 usd
CY2023 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
5119322000 usd
CY2022 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
23365804000 usd
CY2023 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
12340000 usd
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
46790000 usd
CY2023 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2726000 usd
CY2022 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-7141000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-139228000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
225214000 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
24000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-163000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-52635000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-186205000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
277436000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
463641000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
224801000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
277436000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
308381000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
269259000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
46000 usd
CY2023 foa Loans Transferred To Loans Held For Sale At Fair Value From Loans Held For Investment At Fair Value
LoansTransferredToLoansHeldForSaleAtFairValueFromLoansHeldForInvestmentAtFairValue
4732000 usd
CY2022 foa Loans Transferred To Loans Held For Sale At Fair Value From Loans Held For Investment At Fair Value
LoansTransferredToLoansHeldForSaleAtFairValueFromLoansHeldForInvestmentAtFairValue
11562000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates regarding loans held for investment, subject to HMBS related obligations, loans held for investment, subject to nonrecourse debt, loans held for investment, HMBS related obligations, and nonrecourse debt are particularly subject to change. Actual results may differ from those estimates and assumptions due to factors such as changes in the economy, interest rates, secondary market pricing, prepayment assumptions, home prices, or discrete events affecting specific borrowers, and such differences could be material.</span></div>
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46482000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61149000 usd
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
178319000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
179764000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
0 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
36523000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
224801000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
277436000 usd
CY2023Q4 foa Receivables Due From Investors Percentage
ReceivablesDueFromInvestorsPercentage
1
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts from the prior year consolidated financial statements have been reclassified to conform to the current year financial presentation.</span></div>
CY2023 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
300000 usd
CY2023Q4 foa Net Origination Gains Losses
NetOriginationGainsLosses
121646000 usd
CY2022Q4 foa Net Origination Gains Losses
NetOriginationGainsLosses
283808000 usd
CY2023Q4 foa Interest Income Expense On Mortgage Loans
InterestIncomeExpenseOnMortgageLoans
1617954000 usd
CY2022Q4 foa Interest Income Expense On Mortgage Loans
InterestIncomeExpenseOnMortgageLoans
890857000 usd
CY2023Q4 foa Interest Income Expense On Hmbs And Nonrecourse Obligations
InterestIncomeExpenseOnHMBSAndNonrecourseObligations
-1273159000 usd
CY2022Q4 foa Interest Income Expense On Hmbs And Nonrecourse Obligations
InterestIncomeExpenseOnHMBSAndNonrecourseObligations
-600689000 usd
CY2023Q4 foa Servicing Income Expense
ServicingIncomeExpense
25583000 usd
CY2022Q4 foa Servicing Income Expense
ServicingIncomeExpense
11599000 usd
CY2023Q4 foa Net Fair Value Gains Losses From Model Amortization
NetFairValueGainsLossesFromModelAmortization
-228391000 usd
CY2022Q4 foa Net Fair Value Gains Losses From Model Amortization
NetFairValueGainsLossesFromModelAmortization
-127576000 usd
CY2023Q4 foa Net Fair Value Gains Losses From Portfolio Activity
NetFairValueGainsLossesFromPortfolioActivity
141987000 usd
CY2022Q4 foa Net Fair Value Gains Losses From Portfolio Activity
NetFairValueGainsLossesFromPortfolioActivity
174191000 usd
CY2023Q4 foa Net Fair Value Gains Losses From Changes In Market Inputs Or Model Assumptions
NetFairValueGainsLossesFromChangesInMarketInputsOrModelAssumptions
58696000 usd
CY2022Q4 foa Net Fair Value Gains Losses From Changes In Market Inputs Or Model Assumptions
NetFairValueGainsLossesFromChangesInMarketInputsOrModelAssumptions
-368510000 usd
CY2023Q4 foa Net Fair Value Gains Losses On Loans And Related Obligations
NetFairValueGainsLossesOnLoansAndRelatedObligations
322329000 usd
CY2022Q4 foa Net Fair Value Gains Losses On Loans And Related Obligations
NetFairValueGainsLossesOnLoansAndRelatedObligations
89489000 usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
410900000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
399400000 usd
CY2023Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
345600000 usd
CY2022Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
231900000 usd
CY2023Q4 foa Reverse Mortgage Loans Held For Investment Subject To Hmbs Related Obligations
ReverseMortgageLoansHeldForInvestmentSubjectToHMBSRelatedObligations
16875437000 usd
CY2022Q4 foa Reverse Mortgage Loans Held For Investment Subject To Hmbs Related Obligations
ReverseMortgageLoansHeldForInvestmentSubjectToHMBSRelatedObligations
10719000000 usd
CY2023Q4 foa Reverse Mortgage Loans Held For Sale
ReverseMortgageLoansHeldForSale
8257750000 usd
CY2022Q4 foa Reverse Mortgage Loans Held For Sale
ReverseMortgageLoansHeldForSale
7240125000 usd
CY2023Q4 foa Reverse Mortgage Loans Held For Investment
ReverseMortgageLoansHeldForInvestment
558577000 usd
CY2022Q4 foa Reverse Mortgage Loans Held For Investment
ReverseMortgageLoansHeldForInvestment
724800000 usd
CY2023Q4 foa Serviced Reverse Mortgage Loan Portfolio
ServicedReverseMortgageLoanPortfolio
25951142000 usd
CY2022Q4 foa Serviced Reverse Mortgage Loan Portfolio
ServicedReverseMortgageLoanPortfolio
18841394000 usd
CY2023Q4 foa Owned Reverse Mortgage Portfolio
OwnedReverseMortgagePortfolio
25691764000 usd
CY2022Q4 foa Owned Reverse Mortgage Portfolio
OwnedReverseMortgagePortfolio
18683925000 usd
CY2023Q4 us-gaap Mortgage Loans In Process Of Foreclosure Amount
MortgageLoansInProcessOfForeclosureAmount
525000000 usd
CY2022Q4 us-gaap Mortgage Loans In Process Of Foreclosure Amount
MortgageLoansInProcessOfForeclosureAmount
489300000 usd
CY2023Q4 foa Fair Value Option Loans Held As Assets Unpaid Principal Balance
FairValueOptionLoansHeldAsAssetsUnpaidPrincipalBalance
25838677000 usd
CY2023Q4 foa Fair Value Option Loans Held As Assets Fair Value Adjustments
FairValueOptionLoansHeldAsAssetsFairValueAdjustments
561953000 usd
CY2023Q4 foa Fair Value Option Loans Held As Assets
FairValueOptionLoansHeldAsAssets
26400630000 usd
CY2022Q4 foa Fair Value Option Loans Held As Assets Unpaid Principal Balance
FairValueOptionLoansHeldAsAssetsUnpaidPrincipalBalance
19421909000 usd
CY2022Q4 foa Fair Value Option Loans Held As Assets Fair Value Adjustments
FairValueOptionLoansHeldAsAssetsFairValueAdjustments
228811000 usd
CY2022Q4 foa Fair Value Option Loans Held As Assets
FairValueOptionLoansHeldAsAssets
19650720000 usd
CY2023Q4 foa Fair Value Option Loans Held As Assets90 Days Or More Past Due And Nonaccrual Status Aggregate Unpaid Principal Balance
FairValueOptionLoansHeldAsAssets90DaysOrMorePastDueAndNonaccrualStatusAggregateUnpaidPrincipalBalance
38439000 usd
CY2023Q4 foa Fair Value Option Loans Held As Assets90 Days Or More Past Due And Nonaccrual Status
FairValueOptionLoansHeldAsAssets90DaysOrMorePastDueAndNonaccrualStatus
31672000 usd
CY2023Q4 us-gaap Fair Value Option Loans Held As Assets Aggregate Difference
FairValueOptionLoansHeldAsAssetsAggregateDifference
-6767000 usd
CY2022Q4 foa Fair Value Option Loans Held As Assets90 Days Or More Past Due And Nonaccrual Status Aggregate Unpaid Principal Balance
FairValueOptionLoansHeldAsAssets90DaysOrMorePastDueAndNonaccrualStatusAggregateUnpaidPrincipalBalance
31922000 usd
CY2022Q4 foa Fair Value Option Loans Held As Assets90 Days Or More Past Due And Nonaccrual Status
FairValueOptionLoansHeldAsAssets90DaysOrMorePastDueAndNonaccrualStatus
29143000 usd
CY2022Q4 us-gaap Fair Value Option Loans Held As Assets Aggregate Difference
FairValueOptionLoansHeldAsAssetsAggregateDifference
-2779000 usd
CY2023Q4 us-gaap Servicing Asset
ServicingAsset
1056660000 usd
CY2022Q4 us-gaap Servicing Asset
ServicingAsset
8602338000 usd
CY2023 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Discount Rate
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate
0.0371
CY2022 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Discount Rate
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate
0.0359
CY2023 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
2900000 usd
CY2022 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
35000000 usd
CY2022Q4 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
4100000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16315000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15091000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10348000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5960000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5967000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9131000 usd
CY2023 us-gaap Depreciation
Depreciation
5200000 usd
CY2022 us-gaap Depreciation
Depreciation
4200000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
362200000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
102269000 usd
CY2023 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
6400000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
253531000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
369500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
65081000 usd
CY2022 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
7300000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
297119000 usd
CY2022 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
7300000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
37200000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
37800000 usd
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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37189000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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37189000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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37189000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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37189000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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46486000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
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CY2023Q4 foa Government Guaranteed Receivables Net
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CY2022Q4 foa Government Guaranteed Receivables Net
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CY2023Q4 us-gaap Retained Interest Fair Value Disclosure
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44297000 usd
CY2022Q4 us-gaap Retained Interest Fair Value Disclosure
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46439000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023Q4 us-gaap Accounts Receivable Net
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27494000 usd
CY2022Q4 us-gaap Accounts Receivable Net
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
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CY2023Q4 us-gaap Property Plant And Equipment Net
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5967000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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9131000 usd
CY2023Q4 us-gaap Debt Instrument Repurchased Face Amount
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CY2022Q4 us-gaap Debt Instrument Repurchased Face Amount
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0 usd
CY2022Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
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9356000 usd
CY2023Q4 foa Other Assets Other
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25423000 usd
CY2022Q4 foa Other Assets Other
OtherAssetsOther
36103000 usd
CY2023Q4 us-gaap Other Assets
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221907000 usd
CY2022Q4 us-gaap Other Assets
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CY2023 foa Number Of Servicing Government National Mortgage Association Loan Pools
NumberOfServicingGovernmentNationalMortgageAssociationLoanPools
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CY2022 foa Number Of Servicing Government National Mortgage Association Loan Pools
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CY2023Q4 us-gaap Securities Loaned Or Sold Under Agreements To Repurchase Fair Value Disclosure
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7904200000 usd
CY2022Q4 us-gaap Securities Loaned Or Sold Under Agreements To Repurchase Fair Value Disclosure
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7343177000 usd
CY2023Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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1511575000 usd
CY2023Q4 us-gaap Line Of Credit
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CY2022Q4 us-gaap Line Of Credit
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CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
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CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
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CY2023Q4 foa Ginnie Mae Reverse Mortgage Buy Out Payable
GinnieMaeReverseMortgageBuyOutPayable
67991000 usd
CY2022Q4 foa Ginnie Mae Reverse Mortgage Buy Out Payable
GinnieMaeReverseMortgageBuyOutPayable
41768000 usd
CY2023Q4 us-gaap Operating Lease Liability
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31250000 usd
CY2022Q4 us-gaap Operating Lease Liability
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34391000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current And Noncurrent
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CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
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CY2023Q4 foa Deferred Purchase Price Liabilities
DeferredPurchasePriceLiabilities
12780000 usd
CY2022Q4 foa Deferred Purchase Price Liabilities
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3918000 usd
CY2023Q4 foa Warrant Liability
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1150000 usd
CY2022Q4 foa Warrant Liability
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CY2023Q4 foa Liability For Loans Eligible For Repurchase From Ginnie Mae
LiabilityForLoansEligibleForRepurchaseFromGinnieMae
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CY2022Q4 foa Liability For Loans Eligible For Repurchase From Ginnie Mae
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CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
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CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
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173732000 usd
CY2023 foa Warrants And Rights Outstanding Number Of Trading Days For Determining The Share Price
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CY2023 foa Warrants And Rights Outstanding Number Of Consecutive Trading Days For Determining The Share Price
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Liability
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31250000 usd
CY2022Q4 us-gaap Operating Lease Liability
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34391000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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1100000 usd
CY2022 us-gaap Operating Lease Impairment Loss
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CY2022 us-gaap Operating Lease Cost
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CY2023 us-gaap Short Term Lease Cost
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CY2022 us-gaap Short Term Lease Cost
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CY2023 foa Operating And Short Term Lease Cost
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CY2022 foa Operating And Short Term Lease Cost
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CY2023 us-gaap Variable Lease Cost
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CY2022 us-gaap Variable Lease Cost
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CY2023 us-gaap Sublease Income
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CY2022 us-gaap Sublease Income
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CY2023 us-gaap Lease Cost
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CY2022 us-gaap Lease Cost
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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18140000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q4 us-gaap Operating Lease Liability
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CY2023Q4 foa Notes Payable Fair Value Adjustment
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CY2022Q4 foa Notes Payable Fair Value Adjustment
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CY2023Q4 us-gaap Long Term Debt
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CY2022Q4 us-gaap Long Term Debt
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CY2023Q4 us-gaap Loss Contingency Pending Claims Number
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CY2023 us-gaap Litigation Settlement Expense
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CY2022 us-gaap Litigation Settlement Expense
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CY2023 foa Share Based Payment Arrangement Number Of Award Types
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CY2022 us-gaap Amortization Of Deferred Loan Origination Fees Net
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CY2023 foa Loan Servicing Fees Net
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CY2022 foa Loan Servicing Fees Net
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CY2022 foa Change In Fair Value Of Mortgage Servicing Rights
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CY2023 foa Other Fee Income
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CY2022 foa Other Fee Income
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CY2023 us-gaap Fee Income
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CY2022 us-gaap Fee Income
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CY2022 us-gaap Communications And Information Technology
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CY2022 us-gaap Professional Fees
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CY2022 us-gaap General And Administrative Expense
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CY2023 us-gaap Current Federal Tax Expense Benefit
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CY2023 us-gaap Current Federal State And Local Tax Expense Benefit
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CY2022 us-gaap Current Federal State And Local Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2023 us-gaap Income Tax Reconciliation Minority Interest Income Expense
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CY2023 foa Effective Income Tax Rate Reconciliation Permanent Difference
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CY2022 foa Effective Income Tax Rate Reconciliation Permanent Difference
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CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2023Q4 foa Deferred Tax Assets Earnout Awards
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CY2023Q4 foa Deferred Tax Assets Tra
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Assets Net
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CY2022Q4 us-gaap Deferred Tax Assets Net
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CY2023Q4 us-gaap Deferred Income Tax Liabilities
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
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CY2023 foa Reallocation Of Net Income Loss From Discontinued Operations Assuming Exchange
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CY2022 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted
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CY2023 foa Forward Sale Contract Dilutive Shares
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CY2022 foa Forward Sale Contract Dilutive Shares
ForwardSaleContractDilutiveShares
0 shares
CY2023 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.75
CY2022 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-1.58
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.23
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-1.54
CY2023 foa Stockholders Equity Exchange Ratio
StockholdersEquityExchangeRatio
1
CY2023 foa Stockholders Equity Exchange Ratio
StockholdersEquityExchangeRatio
1
CY2023 foa Stockholders Equity Exchange Ratio
StockholdersEquityExchangeRatio
1
CY2023 foa Stockholders Equity Exchange Ratio
StockholdersEquityExchangeRatio
1

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