Company: AFRM
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001820953-25-000012
Chunk: 27

Company: Affirm Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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s previously disclosed excluded modifications made to borrowers where the loan was less than 30 days delinquent at the time of modification.With respect to borrowers who received payment deferrals during the three and six months ended December 31, 2024 and 2023, the length of each deferral period was one month.With respect to borrowers who received a loan re-amortization during the three and six months ended December 31, 2024 and 2023, the payment amount was reduced by half and the term of the loan was extended between one month and twelve months.During the modification process, the loans are made current, and payment schedules for these loans are updated according to the modified terms. We closely monitor the performance of loans that are modified for borrowers experiencing financial difficulty to understand the effectiveness of our modification efforts. We hold an allowance for credit losses for modified loans classified as held for investment. Our allowance estimate considers whether a loan has been modified, the delinquency status of the loan on the date of modification, and the increased likelihood that such loan may become delinquent or charge-off in the future.The following tables present the delinquency status as of December 31, 2024 and 2023, by amortized cost basis excluding accrued interest receivable, of loan receivables that have been modified within the last 12 months where the borrower was experiencing financial difficulty at the time of modification (in thousands):December 31, 2024Payment DeferralLoan Re-amortizationTotalNon-delinquent loans$11,021 $217 $11,238 4 – 29 calendar days past due3,085 67 3,152 30 – 59 calendar days past due1,878 35 1,913 60 – 89 calendar days past due1,632 32 1,664 90 – 119 calendar days past due1,789 31 1,820 Total amortized cost basis$19,405 $382 $19,787 

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December 31, 2023 (1)Payment DeferralLoan Re-amortizationTotalNon-delinquent loans$17,879 $506 $18,385 4 – 29 calendar days past due5,549 249 5,798 30 – 59 calendar days past due2,775 158 2,933 60 –�