Good afternoon. Thank you for attending today's Finance of America 1st quarter 2023 earnings call. My name is Frances and I'll be your moderator today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you'd like to ask a question, please press star one on your telephone keypad. I would now like to pass the conference over to our host, Michael Fant with Finance of America. Thank you and good afternoon, everyone. Welcome to Finance of America's first quarter earnings call. With me today are Graham Fleming, Chief Executive Officer, and Johan Gericke, Chief Financial Officer. As a reminder, this call is being recorded. You can find the earnings release and supplement on our investor relations website at www.financeofamerica.com. In addition, we will refer to certain non-GAAP financial measures on this call. You can find reconciliations of non-GAAP to GAAP financial measures to the extent available without unreasonable efforts discussed on today's call in our earnings press release and supplement on the investor relations page of our website. I would like to remind everyone that comments on this conference call may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the company's expected operating and financial performance for future periods. These statements are based on the company's current expectations and are subject to the safe harbor statement for forward-looking statements that you will find in today's earnings release. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of risks or other factors, including those that are described in the Risk Factors section of Finance of America's annual report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 16, 2023. Risk factors may be amended and updated in our subsequent filings with the SEC. We are not undertaking any commitment to update these statements if conditions change. Please note, these are interim period financials and are unaudited. Now I would like to turn the call over to Finance of America's Chief Executive Officer, Graham Fleming. Graham? Thank you Michael. Good afternoon everyone, and thank you for joining us on our first quarter 2023 earnings call. I'm excited to join the call today as Finance of America's CEO. I believe strongly that Finance of America provides a truly differentiated and modern retirement solutions platform that gives older Americans more choices and new ways to consider and fund their retirement, and I am honored to drive that vision forward. For today's call, I will begin with a brief discussion of our financial results for the quarter. I will then spend the remaining time focused on our go-forward business structure and strategic priorities. Johan will then offer a deeper dive into our financials. We achieved several milestones in the first quarter. This was largely due to our efforts over the past year to streamline the organization and invest in core businesses that underpin our modern retirement platform with home equity as its centerpiece. Current demographic trends point to a substantial market opportunity, and we believe FOA has the significant competitive advantages needed to capitalize on this. On a continuing operations basis, we recorded GAAP net income of $55 million, or $0.29 per basic share in Q1, driven primarily by favorable increases in valuations across our asset base. On an adjusted basis, we recognized a net loss of $15 million, or $0.08 per fully diluted share. For the year, we expect our adjusted diluted earnings per share for continuing operations to be between $0.09 and $0.12 as we complete the integration of AAG and optimize our corporate structure. As Johan will touch on in a moment, we recently updated our segment reporting to align with our new operating structure. We believe the new structure offers a simpler and more accurate breakdown of Finance of America today and moving forward. Both our retirement solutions and portfolio management businesses delivered profitable results on an adjusted basis in Q1. This was encouraging as we expected a substantial reduction in volume for the first quarter of the year. Overall, profitability in our continuing operations was down quarter-over-quarter on an adjusted basis as lower profitability in our operating segments wasn't fully offset by a reduction in corporate expenses. We remain focused on our efforts to rightsize our corporate structure to better align with our current footprint and expect to materially complete this work by the third quarter of 2023. Since the first quarter of 2022, we have seen a 32% reduction in corporate salaries and benefits, and we expect to see further reductions in the coming quarters. Finally, in line with our commitment to strengthen our balance sheet, a series of actions, including the recently closed AAG acquisition, as well as the concurrent $30 million equity raise from existing shareholders, increase our tangible book value for continuing operations from $108 million at the end of last year to over $200 million this quarter. A significant improvement and further validation that our efforts are beginning to deliver real results. Further into our balance sheet and operating improvement efforts, in Q2 we signed an agreement to sell a majority share of the remainder of the lender services businesses. This transaction is expected to close in Q2. The previously announced sale of our title insurance business to Essent is also on track to close early in Q3, subject to regulatory approvals and customary closing conditions. Once both of those transactions have closed, we will have completed the full-scale transformation of Finance of America into a modern retirement solutions platform. Our new structure and suite of innovative solutions are designed to help retirees age in place and thrive later in life. Looking beyond, we expect that the acquisition of the assets of AAG will materially enhance Finance of America's growth prospects and position the company as a leader in the retirement solutions field. This acquisition marks a new chapter in our strategic plan to expand awareness of our offerings and accelerate growth in the market. We are quite optimistic about what this new combination means for our business in terms of, 1, increased market share, as we are now the largest originator of reverse mortgages by volume. Two, greater reach and awareness among consumers as a result of our increased presence and brand awareness. Three, our ability to grow the customer base through a combination of direct-to-consumer outreach via the AAG brand and strategic educational partnerships and initiatives via Finance of America Reverse. Importantly, AAG's expanded reach and retail presence will complement the innovative proprietary product suite at Finance of America Reverse. The AAG brand's direct-to-consumer retail channel alone reaches more than 10 million consumers annually via targeted marketing and advertising. This combination creates a remarkable opportunity for Finance of America to become a lifelong resource for an enormous number of customers. We strongly believe there is a growing need for a modern retirement solutions platform like ours. In the U.S., the retirement savings gap is approaching $4 trillion, yet homeowners age 62 and older have amassed more than $11.5 trillion in home equity value. This is the market opportunity, helping older homeowners use their homes as a superpower to achieve their financial goals, whether by tapping home equity via AAG or FAR, securing a Finance of America home improvement loan or generating additional income by home sharing with Silvernest. Together, AAG and FAR will enable the overall Finance of America company to better serve the growing needs of retirees across the nation. We are excited by the long-term potential of Finance of America and our modern retirement solutions platform. Given the transformative changes in investments we have made to position Finance of America for the future, we are confident our strategy will result in continued growth and success. With that, I will pass the call to Johan to discuss the financials. Thank you Graham and good afternoon, everyone. As Graham mentioned, we have made significant changes to our financial reporting in the first quarter. Following the successful wind down of our mortgage operations, along with the recently announced divestitures of our commercial, title insurance, and lender services businesses, we have designated each of these business lines as discontinued operations. For the quarter, our continuing operations reported net income of $55 million or $0.29 per basic share, primarily driven by the market rate changes that increased the value of our reverse assets. Excluding these fair value changes and other non-recurring items, the company reported an adjusted net loss of $15 million or $0.08 per fully diluted share, as earnings in our operating segments were more than offset by corporate expenses. From a balance sheet perspective, the acquisition of the assets of AAG occurred on March 31st, adding $5.6 billion in assets and $62 million in equity to the company. Most significantly, we added $5.4 billion in loans held for investment subject to HMBS obligations. The $30 million capital raise from existing shareholders and profitable results for the quarter led to a significant improvement in tangible equity. As of March 31st, the company reported $203 million in tangible equity, an increase of 88% from December 31st. We have worked diligently to de-lever our balance sheet. As of September 30th of last year, the company had $2.3 billion in other financing lines of credit. As of March 31st, that number had decreased by 52% to $1.1 billion. Over the same timeframe, loans held for investment and loans held for sale declined from $2.2 billion to $0.8 billion, or a reduction of 62%. As we streamline our organization, we have also updated our segments to more closely align with our go-forward business strategy that Graham laid out a moment ago. Beginning this quarter, we will present our operating results through three reporting segments: retirement solutions, portfolio management, and corporate and other. Our retirement solutions segment fulfills Finance of America's goal to help older homeowners achieve their financial goals in retirement and includes all origination activity for the company, including reverse mortgage and home improvement lending. For the quarter, we funded $357 million, down from the prior quarter as volumes softened due to seasonality and competitive pressures. Even with this decline, the segment recognized $2 million in adjusted net income for the quarter as revenue margins for the segment improved to 7.3% from 4.6% in the fourth quarter. Please note that the results for the operations acquired from AAG are not yet included in our P&L, but will be included in Retirement Solutions beginning in the second quarter. We expect the acquisition to drive profitable growth as we realize both revenue and expense synergies over the coming quarters. Our Portfolio Management segment did not see any reporting changes due to the realignment. For the quarter, Portfolio Management recognized $99 million in pre-tax income as market rate adjustments led to increased values of our reverse assets. On an adjusted basis, the segment recognized $4 million of adjusted net income in Q1. Combined, these two segments earned $6 million in adjusted net income for the quarter. As mentioned earlier, the company reported a total adjusted net loss of $15 million. The delta represents the unallocated cost of our current corporate infrastructure. As we work to streamline our organization and complete the remaining transactions, we will further reduce corporate overhead to align with the size and simplicity of our organization. As Graham mentioned, and I want to reiterate, we have already seen a significant reduction in corporate expenses. Since the first quarter of 2022, we have reduced corporate salaries and benefits by 32% and will continue to optimize this. In conclusion, Finance of America has worked hard to position itself for success moving forward. So far, we have executed on every step we set out to take and plan to continue to make the right decisions to improve profitability, strengthen liquidity, and de-risk our balance sheet. With that, let me now hand it back to Graham for closing remarks. Thank you, Johan. Overall, we are pleased with our start to the year. The continuing operations of our business was profitable, and we hope to deliver further value by focusing on our core businesses and rightsizing our corporate infrastructure. Moving forward, we are confident we will drive continued strength in Retirement Solutions and Portfolio Management as we work through these efforts. We believe in the long-term earnings power of our organization. With that, operator, we'll open it up for questions. Thank you. If you would like to ask a question, please press star followed by one on your telephone keypad. If for any reason you'd like to remove that question, press star followed by two. Again, to ask a question, that's star one. As a reminder, if you're using a speakerphone, please remember to pick up your handset before asking your question. Our first question comes from the line of Stephen Laws with Raymond James. Please go ahead. Hi, good afternoon. You know, looks like a really solid quarter. You guys came in a little ahead of me and always love to see that. Kind of, you know wanted to get your thoughts maybe first, Graham, from a higher level. Can you talk about the turmoil of banks? You know kind of what, if any, direct impacts are there from that? You know, maybe how much did you compete with banks for some of your loan products or you know, maybe in home improvement? Or asked another way, you know, if credit availability is contracting elsewhere in the system, you know, how much are you seeing anybody turn yet to your products? Do you think that's a coming opportunity? How do you think about the bigger picture in the banking market? Yeah. Stephen, thanks for the question. You know, let's look at it through two lenses, right? On the Reverse side, right? We haven't necessarily seen banks in that space for a number of years, right? It's been non-bank lenders. You know, although we would be thrilled if the banks came into the space, it would increase the visibility of the product with our customer base. But on the home improvement, right? We have seen, or we've read right around Goldman and Marcus and them selling their portfolio and potentially exiting that business. We do see that as an opportunity. Haven't seen. You know, we've been focused on the integration of AAG and getting those LOs, you know, licensed and getting the marketing up the curve. We've been focused on getting, you know, the AAG guys back to where they were pre-acquisition. Haven't seen any earlier indications yet on the tightening of credit. We have seen some widening of spreads here in Q2 as we work through some deals, nothing, you know, nothing that indicates it's going to be longer term, right? You know, we have seen some widening, but we haven't seen much in the way of credit tightening at this point. Yeah, appreciate those comments. That kind of leads me to my follow-up, you know, on outlook for origination volume. Johan I think in your prepared remarks maybe you said, seasonality and maybe a little bit more competition. Can you talk about volumes maybe in April? It seems like margins really improved sequentially and how you're seeing margins hold up quarter to date. Yeah. Stephen thank you. You know, we expect volumes to pick up in Q2, obviously on the back of the AAG acquisition, right? As I look at where we stand today, you know, probably closer to Q4, once we get the AAG integration fully up to speed. You know, just from a practical perspective, the first few weeks in April, we had to go through, you know, typical integration things when you do an asset acquisition. There was some licensing, just getting everybody, you know, fully integrated into the platform and that's working perfectly. April, obviously we won't have the full benefit of the origination power of AAG, but once we roll into the second part of Q2, I expect that to be, you know, operating, you know, smoothly and as they had prior to the acquisition. As Graham said, you know, spreads widened a little bit starting here in April, probably on the back of the banking, you know, dislocation, so to speak. Margin may be a little bit softer in Q2, but, you know, it's so early it's hard to say where we'll end up, to be honest. Yeah. No, fair enough. Appreciate the comments this afternoon. Thank you. Thank you for your questions. The next question comes from Leon Cooperman with Omega Advisors. Please go ahead. Yeah, thank you. There have been a number of changes in the company you know, as you transition to a modern, you know, retirement structure. What do you think your normalized earnings are as you restructure the company looking at 12, 18 months from today? Normalized. 12, 18 months from today, it 's gonna be obviously volume dependent, you know. I think if we look at where we saw Q4, right? We say, "Okay, with the AAG acquisition, we can get something better than that," right? Then you say, "What is a decent bottom line for that business?" I still believe that it's somewhere in the, you know, 4%-5% range of funded volume, right? Then you look at the portfolio management segment, which should run relatively stable. Once we layer in the AAG acquisition, you know, that number should, you know, maybe be 2x as high as what it is today. Then we do some further rationalization. In Q1 we said we expect our corporate expenses to come down, you know, to what, at half of what it was at the peak, so we're about two-thirds of the way there, I'd say. When you layer all of that in, it should give you a good indication of kind of where the profitability is. Is that in excess of $0.50 a share? Yeah, I mean. Normalized earnings? At the right volume could be, yes. Okay. Thank you. Thank you for your question. At this time, there are no further questions waiting, so I'll pass the conference back over to Graham for any additional remarks. Yeah. Thank you, Frances. I wanna thank everybody for joining the call. Appreciate the questions, and we look forward to our next earnings call in August to provide an update on our progress. Thank you everybody for joining. That concludes the Finance of America first quarter 2023 earnings call. Thank you for your participation. You may now disconnect your line.