Company: FOACW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052025
Chunk: 69

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 69
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 155 (67)Total loans 90 days or more past due and on non-accrual status$32,289 $19,517 $(12,772)Fair Value of Other Financial InstrumentsAs of September 30, 2025 and December 31, 2024, all financial instruments were either recorded at fair value or the carrying value approximated fair value with the exception of certain notes payable. The fair value of our notes payable was determined using quoted market prices adjusted for accrued interest, which is considered to be a Level 2 input, or for notes payable with an original maturity of a year or less, the carrying value approximates fair value, which is determined using Level 3 inputs. Refer to Note 10 - Notes Payable for additional information.

29

Finance of America Companies Inc.Notes to Condensed Consolidated Financial Statements (Unaudited)

The following table presents the amortized cost and fair value of notes payable (in thousands):September 30, 2025December 31, 2024Carrying ValueFair ValueCarrying ValueFair ValueSenior Secured Notes$167,373 $187,447 $156,074 $185,632 Exchangeable Secured Notes129,031 176,894 126,059 191,110 2025 Unsecured Notes7,378 6,285 7,378 6,187 Working Capital Promissory Notes— — 85,000 85,000 Total notes recorded at amortized cost303,782 $370,626 374,511 $467,929 Convertible Notes, recorded at fair value49,844 — Total notes payable$353,626 $374,511 For other financial instruments that were not recorded at fair value, such as cash and cash equivalents, including restricted cash, promissory notes receivable, and other financing lines of credit, the carrying value approximates fair value due to the short-term nature of such instruments. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 3 inputs, with the exception of cash and cash equivalents, including restricted cash, which are Level 1 inputs.

6.    Reverse Mortgage Loan PortfolioThe following table presents the composition and the outstanding UPB of the reverse mortgage loan portfolio serviced by the Company (in thousands):September 30, 2025December 31, 2024Loans held for investment, subject to HMBS related obligations