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FINANCE OF AMERICA REPORTS FIRST QUARTER 2021 RESULTS - Total Revenue Up 165 % YoY on First Quarter Funded Volume of $ 9.5 billion · - Pre - tax Income of $ 125 million Up 398 % from First Quarter 2020 · - Completed Business Combination with Replay Acquisition Corporation on April 1 , 2021 - - Strategically Strengthened Leadership Team with the Appointment of Johan Gericke , CFO - - Investor Call Scheduled For Thursday , May 13 , 2021 At 5:00 pm Eastern Time - - Irving , TX ( May 13 , 2021 ) : Finance of America Companies , ( " Finance of America " ) ( NYSE : FOA ) , reported first quarter results for the period ended March 31 , 2021. Finance of America is a diversified , vertically integrated consumer lending platform operating in three lending segments : Mortgage Originations , Reverse Originations , Commercial Originations , and two non - lending segments : Lender Services and Portfolio Management . First Quarter 2021 Highlights • • • • • Total funded volume of $ 9.5 billion grew 78 % compared to $ 5.3 billion in the first quarter of 2020 and was down 3 % compared to the prior quarter Total net rate lock volume came in at $ 8.4 billion , up 35 % compared to $ 6.2 billion in the first quarter of 2020 , and up 7 % compared to $ 7.9 billion in the prior quarter Total revenues were $ 499 million , more than double compared to $ 188 million in the first quarter of 2020 , and a 7 % decrease compared to $ 539 million in the prior quarter Pre - tax net income totaled $ 125 million , compared to a loss of $ 42 million in the first quarter of 2020 , and a decrease of 18 % compared to $ 153 million in the prior quarter Adjusted EBITDA * totaled $ 154 million , an increase of 340 % compared to $ 35 million in the first quarter of 2020 , and a decrease of 11 % compared to $ 174 million in the prior quarter * See reconciliation of Adjusted EBITDA to Net income before taxes . “ Finance of America continued to deliver strong results across key performance metrics in the first quarter , further reinforcing the strength of our diversified and differentiated platform , " stated Patricia Cook , Chief Executive Officer . " Since inception , we built our business model to withstand uncertain and volatile market conditions . In addition , Finance of America is structured to thrive and quickly pivot to capitalize on market opportunities as these arise . To this point , our Reverse Originations business delivered near record volumes and strong growth during the quarter despite the rise in interest rates . In addition , we closed on the acquisition of Renovate America and launched our EquityAvail product to further bolster our home improvement financing and reverse mortgage capabilities . " On April 5 , 2021 , FOA officially started trading on the New York Stock Exchange , and I would like to express my gratitude to the entire Finance of America team and all of our clients who made this accomplishment possible . As we turn the page and enter our first chapter as a publicly listed company , we remain committed to driving long - term value for all of our stakeholders . " 1