Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001828937-25-000033
Chunk: 3

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 1
Chunk 3
---
 other comprehensive loss(285)(276)Noncontrolling interest102,812 60,365 TOTAL EQUITY394,886 315,664 TOTAL LIABILITIES AND EQUITY$29,688,856 $29,156,490 

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)

6

Finance of America Companies Inc.Condensed Consolidated Statements of Financial Condition(in thousands)

The following table presents the assets and liabilities of the Company’s consolidated variable interest entities (“VIEs”), which are included in the Condensed Consolidated Statements of Financial Condition above, and excludes retained bonds and beneficial interests that eliminate in consolidation.

March 31, 2025December 31, 2024ASSETS(unaudited)Restricted cash$193,261 $248,905 Loans held for investment, subject to nonrecourse debt, at fair value9,243,455 8,904,303 Loans held for investment, at fair value214,497 168,641 Other assets, net52,678 53,400 TOTAL ASSETS$9,703,891 $9,375,249 LIABILITIESNonrecourse debt, at fair value$8,795,125 $8,588,301 Other financing lines of credit170,103 136,157 Payables and other liabilities1,322 1,277 TOTAL LIABILITIES$8,966,550 $8,725,735 NET CARRYING VALUE OF ASSETS IN VIEs$737,341 $649,514 

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)

7

Finance of America Companies Inc.Condensed Consolidated Statements of Operations (Unaudited)(in thousands, except share data)

For the three months ended March 31, 2025For the three months ended March 31, 2024PORTFOLIO INTEREST INCOMEInterest income$480,602 $463,979 Interest expense(410,167)(393,804)NET PORTFOLIO INTEREST INCOME70,435 70,175 OTHER INCOME (EXPENSE)Net origination gains46,038 39,657 Gain on securitization of home equity conversion mortgage (“HECM”) tails, net10,481 10,726 Fair value changes from model amortization(40,956)(57,608)Fair value changes from