Finance of America Companies Inc.

Expects to complete closing of its forward retail mortgage division by the end of 2022.

Also mutually agrees to end negotiations with Guaranteed Rate over sale of retail mortgage divison.

Company has posted 3 straight quarterly losses, reduced its workforce by 20% in 2022.

Company attributed it to widening credit spread

Departure comes on heels of net $1.34B loss at parent company Finance of America