Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 248

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 248
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 carrying value approximates fair value due to the short-term nature of such instruments. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 3 inputs, with the exception of cash and cash equivalents, including restricted cash, which are Level 1 inputs.

7.    Reverse Mortgage Portfolio CompositionThe table below summarizes the composition and the outstanding UPB of the reverse mortgage loan portfolio serviced by the Company (in thousands):December 31, 2024December 31, 2023Reverse mortgage loans held for investment, subject to HMBS related obligations$17,652,495 $16,875,437 Reverse mortgage loans held for investment, subject to nonrecourse debt:Non-agency reverse mortgages8,567,792 7,631,601 Performing HECM buyouts210,041 216,184 Nonperforming HECM buyouts408,614 409,965 Total reverse mortgage loans held for investment, subject to nonrecourse debt9,186,447 8,257,750 Reverse mortgage loans held for investment:Non-agency reverse mortgages270,956 241,424 HECM loans not securitized(1)101,100 101,820 Unpoolable HECM loans(2)131,671 215,333 Total reverse mortgage loans held for investment503,727 558,577 Total owned reverse mortgage portfolio27,342,669 25,691,764 Loans reclassified as government guaranteed receivable45,773 94,636 Loans serviced for others88,125 164,742 Total serviced reverse mortgage loan portfolio$27,476,567 $25,951,142 (1)  Loans not securitized primarily represent newly originated loans and poolable tails.(2)  Unpoolable loans primarily represent loans that have reached 98% of their MCA.The table below summarizes the reverse mortgage portfolio owned by the Company by product type (in thousands): December 31, 2024December 31, 2023Adjustable rate loans$19,966,185 $18,874,588 Fixed rate loans7,376,484 6,817,176 Total owned reverse mortgage portfolio$27,342,669 $25,691,764 As of December 31, 2024 and December 31, 2023, there were $497.6 million and $478.8