Company: FOACW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001828937-25-000061
Chunk: 54

Company: Finance of America Companies Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 54
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 capacity as servicer of the securitized loans, the Company retains the power to direct the VIE’s activities that most significantly impact the VIE’s economic performance. The Company also retains certain beneficial interests in these trusts which provide exposure to potential gains and losses based on the performance of the trust. As the Company has both the power to direct the activities that significantly impact the VIE’s economic performance and the obligations to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, the definition of primary beneficiary is met and the trusts are consolidated by the Company.Certain obligations may arise from the agreements associated with transfers of loans. Under these agreements, the Company may be obligated to repurchase the loans or otherwise indemnify or reimburse the investor for losses incurred due to material breach of contractual representations and warranties. There were no charge-offs associated with these transferred mortgage loans related to the standard securitization representations and warranties obligations for the three and six months ended June 30, 2025 and 2024. The following table presents the assets and liabilities of the Company’s consolidated VIEs, which are included in the Condensed Consolidated Statements of Financial Condition, and excludes intercompany balances, except for retained bonds and beneficial interests (in thousands):June 30, 2025December 31, 2024ASSETSRestricted cash$183,849 $248,905 Loans held for investment, subject to nonrecourse debt, at fair value9,499,796 8,904,303 Loans held for investment, at fair value276,450 168,641 Other assets, net:  Loans held for sale - reverse mortgage loans, at fair value133,534—   Other, net50,921 53,400 TOTAL ASSETS$10,144,550 $9,375,249 LIABILITIESNonrecourse debt, at fair value$9,464,406 $8,947,378 Other financing lines of credit211,808 136,157 Payables and other liabilities1,314 1,277 TOTAL VIE LIABILITIES9,677,528 9,084,812 Retained bonds and beneficial interests eliminated in consolidation(408,651)(359,077)TOTAL CONSOLIDATED LIABILITIES$9,268,877 $8,725,735 Unconsolidated