Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000044
Chunk: 37

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 37
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31, 2023 |
|:-------------------------------------------|:----|:--|-------------------:|:----|:--|------------------:|
| Accrued and other liabilities              |     | $ |             95,388 |     | $ |            94,468 |
| Lease liabilities                          |     |   |             29,178 |     |   |            31,250 |
| Ginnie Mae reverse mortgage buyout payable |     |   |             15,161 |     |   |            67,991 |
| Deferred purchase price liabilities(1)     |     |   |             11,105 |     |   |            12,780 |
| Accrued compensation expense               |     |   |             10,037 |     |   |            13,080 |
| Total payables and other liabilities       |     | $ |            160,869 |     | $ |           219,569 |

(1) As of September 30, 2024 and December 31, 2023, the Company had deferred purchase price liabilities of $ 7.2million and $ 8.1million, respectively, related to the closing of the AAG Transaction. Refer to Note 3 - Acquisitions for additional detail.

13. Litigation

The Company’s business is subject to legal proceedings, examinations, investigations, and reviews by various federal, state, and local regulatory and enforcement agencies as well as private litigants such as the Company’s borrowers or former employees. At any point in time, the Company may have open investigations with regulators or enforcement agencies, including examinations and inquiries related to its loan servicing and origination practices. These matters and other pending or potential future investigations, examinations, inquiries, or lawsuits may lead to administrative or legal proceedings, and possibly result in remedies, including fines, penalties, restitution, alterations in business practices, or additional expenses and collateral costs.

As a litigation or regulatory matter develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and reasonably estimable. If, at the time of evaluation, the loss contingency is not both probable and reasonably estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and reasonably estimable. Once the matter is deemed to be both probable and reasonably estimable, the Company establishes an accrued liability and records a corresponding amount to litigation related