Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000044
Chunk: 31

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 31
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 trusts and reverse loan financing liability |     |                      |  7,876,932 |     |                          |  8,429,135 |
| Nonrecourse commercial loan financing liability                                  |     |                      |     27,268 |     |                          |     26,661 |

Fair Value of Other Financial Instruments

As of September 30, 2024 and December 31, 2023, all financial instruments were either recorded at fair value or the carrying value approximated fair value with the exception of notes payable, net . Notes payable, net, includes our 7.875% Senior Notes due 2025 (the “2025 Unsecured Notes”) and related-party credit lines, recorded at the carrying value of $ 435.7million and $ 410.9million as of September 30, 2024 and December 31, 2023, respectively, and have a fair value of $ 376.8million and $ 345.6million as of September 30, 2024 and December 31, 2023, respectively. The fair value for notes payable, net, was determined using quoted market prices adjusted for accrued interest, which is considered to be a Level 2 input. Refer to Note 21 - Subsequent Events for additional information on the 2025 Unsecured Notes . 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.

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

7. Reverse Mortgage Portfolio Composition

The table below summarizes the composition and the outstanding UPB of the reverse mortgage loan portfolio serviced by the Company (in thousands):

|                                                                                 |     |   | September 30, 2024 |     |   | December 31, 2023 |
|:--------------------------------------------------------------------------------|:----|:--|-------------------:|:----|:--|------------------:|
| Reverse mortgage loans:                                                         |     |   |                    |     |   |                   |
| Reverse mortgage loans held for investment, subject to HMBS related obligations