Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001828937-25-000033
Chunk: 86

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 1
Chunk 86
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, 2025 to August 1, 2025. Refer to Note 19 - Subsequent Events in the Notes to Condensed Consolidated Financial Statements for additional information. 

Contractual Obligations and Commitments

The following table provides a summary of contractual obligations as of March 31, 2025 (in thousands): 

TotalLess than 1 year1 - 3 years3 - 5 yearsMore than 5 yearsContractual cash obligations:Nonrecourse debt$9,548,811 $2,567,083 $4,710,853 $874,476 $1,396,399 Warehouse lines of credit513,357 482,412 30,945 — — Other secured lines of credit495,537 37,036 69,231 — 389,270 Notes payable(1)434,955 137,408 150,754 146,793 — Operating leases35,672 5,344 9,558 6,747 14,023 Total$11,028,332 $3,229,283 $4,971,341 $1,028,016 $1,799,692 

(1) Amounts exclude the unamortized debt discount and issuance costs.

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In addition to the above contractual obligations, we have also been involved with several securitizations of HECM loans, which were structured as secured borrowings. These structures resulted in us carrying the securitized loans in the Condensed Consolidated Statements of Financial Condition and recognizing the asset-backed certificates acquired by third parties as HMBS related obligations. The timing of the principal payments on this nonrecourse debt is dependent on the payments received on the underlying mortgage loans and liquidation of real estate owned properties. The outstanding principal balance of loans held for investment, subject to HMBS related obligations, was $17.8 billion as of March 31, 2025.

The Company’s TRA obligation will require payments to be made that may be significant and are not reflected in the contractual obligations table above.

We are also required to fund borrower draws on certain loans. These unfunded commitments are not included in the table above. Refer to Note 12 - Commitments and Contingencies in the Notes to Condensed Consolidated Financial Statements for additional information. 

Critical Accounting Estimates

For a description of our critical accounting estimates, see the Form 10-K filed with the SEC