Company: FOACW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052025
Chunk: 39

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 39
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, 2025, FAR entered into an unsecured revolving working capital promissory note with LFH (the “LFH Promissory Note”), which provides for an uncommitted revolving facility of up to $20.0 million. The LFH Promissory Note accrues interest monthly at a rate of 10% per annum and matures on August 4, 2026.

As of September 30, 2025, the Company was in compliance with all required covenants of our notes payable.

Refer to Note 10 - Notes Payable and Note 16 - Related Party Transactions in the Notes to Condensed Consolidated Financial Statements for additional information. 

73

Contractual Obligations and Commitments

The following table provides a summary of contractual obligations as of September 30, 2025 (in thousands): 

TotalLess than 1 year1 - 3 years3 - 5 yearsMore than 5 yearsContractual cash obligations:Nonrecourse debt$10,467,868 $3,012,399 $2,984,842 $1,573,667 $2,896,960 Warehouse lines of credit335,651 286,622 49,029 — — Other secured lines of credit473,712 20,395 69,231 — 384,086 Notes payable(1)389,955 52,408 190,754 146,793 — Repurchase Agreement80,298 80,298 — — — Operating leases33,345 5,332 8,974 6,696 12,343 Total$11,780,829 $3,457,454 $3,302,830 $1,727,156 $3,293,389 

(1) Amounts exclude the unamortized debt discount and issuance costs and the fair value adjustments for the Convertible Notes.

In addition to the above contractual obligations, we have also been involved with securitizations of HECM loans, which were structured as secured borrowings. These structures resulted in us recording the securitized loans in the Condensed Consolidated Statements of Financial Condition and recognizing the asset-backed certificates acquired by third parties as HMBS related obligations. The timing of the principal payments on this nonrecourse debt is dependent on the payments received on the underlying mortgage loans and liquidation of real estate owned properties. The outstanding principal balance of loans