Company: AFRM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050295
Chunk: 17

Company: Affirm Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 the total deferral period may not exceed three months. A loan re-amortization provides the borrower relief by lowering monthly payments through extending the term length of the loan; however, the total remaining term may not exceed twenty-four months. In addition, the total interest due from the consumer will not exceed the initial total interest due prior to modification, and a loan may not be re-amortized more than once. The following tables present the amortized cost basis of loans excluding accrued interest receivable that were modified for borrowers experiencing financial difficulty during the three months ended September 30, 2025 and 2024, by type of modification (in thousands):Three Months Ended September 30,20252024Payment deferral$8,690 $10,975 Loan re-amortization149 165 Total$8,839 $11,140 % of total loan receivables outstanding0.12 %0.18 %With respect to borrowers who received payment deferrals during the three months ended September 30, 2025 and 2024, the length of each deferral period was one month.With respect to borrowers who received a loan re-amortization during the three months ended September 30, 2025 and 2024, 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.

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The following tables present the delinquency status as of September 30, 2025 and 2024, 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):September 30, 2025Payment DeferralLoan Re-amortizationTotalNon-delinquent loans$8,827 $133 $8,960 4 – 29 calendar days past due2,022 64 2,086 30