Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-K/A
Source: 0001828937-25-000032
Chunk: 213

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-K/A
Chunk 213
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 are generally repaid using the proceeds from the sale or securitization of the loans to, or pursuant to, programs sponsored by Ginnie Mae or private secondary market investors, although prior payment may be required based on, among other things, certain breaches of representations and warranties or other events of default.

When we draw on these facilities, we generally must transfer and/or pledge eligible loans to the lender and comply with various financial and other covenants. Under the facilities, loans are generally transferred and/or pledged at an advance rate less than the principal balance of the loans, which serves as the primary credit enhancement for the lender. Since the advances to us are generally for less than 100% of the principal balance of the loans, we are required to use working capital to fund the remaining portion of the principal balance of the loans. The amount of the advance that is provided under the various facilities typically ranges from 50% to 100% of the principal ba lance of the loans. Upon expiration, management believes it will either renew its existing facilities or obtain sufficient additional lines of credit.

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| Finance of America Companies Inc.          
 Notes to Consolidated Financial Statements |

The following summarizes the components of other financing lines of credit (in thousands):

| Maturity Date                         
 Reverse Lines:                        |     | Interest Rate                                                 |     | Collateral Pledged              |     | Total Capacity(1) |           |     | Outstanding borrowings at 
 December 31, 2024         |         |     | December 31, 2023 |         |
|:--------------------------------------|:----|:--------------------------------------------------------------|:----|:--------------------------------|:----|:------------------|----------:|:----|:--------------------------|--------:|:----|:------------------|--------:|
| April 2025 - October 2026             |     | Secured Overnight Financing Rate (“SOFR”) + applicable margin |     | First and Second Lien Mortgages |     | $                 | 1,080,000 |     | $                         | 438,328 |     | $                 | 432,918 |
| Various(2)                            |     | Bond accrual rate/SOFR + applicable margin                    |     | Mortgage Related Assets         |     |                   |   381,034 |     |                           | 356,915 |     |                   | 344,367 |
| October 2027                          |     | SOFR + applicable margin                                      |     | HECM MSR