Company: FOACW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001828937-25-000061
Chunk: 82

Company: Finance of America Companies Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 82
---
,418 Non-funding interest expense, net— — — (17,420)— (17,420)Net other income (expense)92,863 (57,124)35,739 (17,420)(246)18,073 Total revenues92,863 78,524 171,387 (17,420)(246)153,721 ExpensesSalaries, benefits, and related expenses42,082 8,993 51,075 23,001 — 74,076 Loan production and portfolio related expenses4,181 10,094 14,275 — — 14,275 Loan servicing expenses— 15,850 15,850 — — 15,850 Marketing and advertising expenses19,167 39 19,206 12 — 19,218 Depreciation and amortization18,914 23 18,937 494 — 19,431 General and administrative expenses13,901 7,516 21,417 12,341 (246)33,512 Total expenses98,245 42,515 140,760 35,848 (246)176,362 Impairment of other assets— — — (600)— (600)Other, net(174)— (174)3,867 — 3,693 Net income (loss) before taxes$(5,556)$36,009 $30,453 $(50,001)$— $(19,548)Total assets$282,516 $27,659,539 $27,942,055 $1,441,787 $(1,414,146)$27,969,696 

14.    Liquidity and Capital RequirementsCompliance RequirementsFARAs an issuer of HMBS, FAR is subject to minimum net worth, liquidity, and leverage requirements as well as minimum insurance coverage established by Ginnie Mae. The minimum net worth required is $5.0 million plus 1% of FAR’s outstanding HMBS and unused commitment authority from Ginnie Mae. The liquidity requirement is for 20% of FAR’s required net worth to be in the form of cash or cash equivalent assets. The leverage requirement is to maintain a ratio of net worth to total assets of not less than 6%.As of June 30, 2025, FAR was in compliance with the