Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 17

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 17
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Our Portfolio Management segment generates its revenues primarily from the net interest income and fair value changes on portfolio assets, monetized by securitization, sale, or other financing of those assets. 

Net fair value changes in our Portfolio Management segment include fair value adjustments primarily related to the following assets and liabilities:

•Loans held for investment, subject to HMBS related obligations, at fair value

•Loans held for investment, subject to nonrecourse debt, at fair value

•Loans held for investment, at fair value

•Loans held for sale, at fair value

•HMBS related obligations, at fair value; and

•Nonrecourse debt, at fair value.

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Key Metrics

The following table provides a summary of the assets and liabilities under management by our Portfolio Management segment (in thousands):

December 31, 2024December 31, 2023Cash and cash equivalents$29,355 $32,245 Restricted cash254,335 178,319 Loans held for investment, subject to HMBS related obligations, at fair value18,669,962 17,548,763 Loans held for investment, subject to nonrecourse debt, at fair value9,288,403 8,272,393 Loans held for investment, at fair value520,103 575,228 Other assets, net115,120 166,153 Total earning assets28,877,278 26,773,101 HMBS related obligations, at fair value18,444,370 17,353,720 Nonrecourse debt, at fair value8,954,068 7,904,200 Other financing lines of credit918,247 928,479 Payables and other liabilities55,746 107,664 Total financing of portfolio28,372,431 26,294,063 Net carrying value of earning assets$504,847 $479,038 

The following tables provide a summary of our Portfolio Management segment’s key metrics (dollars in thousands):

December 31, 2024December 31, 2023Reverse MortgagesLoan count90,34091,888Active UPB$26,477,354$24,923,313Due and payable415,400371,913Foreclosure504,675524,988Claims pending79,138130,928Ending UPB$27,476,567$25,951,142Average UPB$304$282