Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 104

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 8
Chunk 104
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.    Nonrecourse Debt, at Fair Value Nonrecourse debt, at fair value, consisted of the following (in thousands):Issue DateFinal Maturity DateInterest RateOriginal Issue AmountDecember 31, 2024December 31, 2023Securitization of non-agency reverse loansMay 2018 - December 2024May 2050 - December 20741.25% - 4.50%$10,124,527 $8,304,568 $7,331,305 Securitization of performing/nonperforming HECM loans(1)October 2024October 20344.00% - 6.00%705,400 677,035 672,911 Securitization of commercial loans(2)May 2024May 20269.49%39,016 8,245 83,237Total consolidated VIE nonrecourse debt UPB8,989,848 8,087,453 Nonrecourse reverse loan financing liability(3)361,284 341,682 Nonrecourse commercial loan financing liability(4)12,787 26,661 Fair value adjustments(409,851)(551,596)Total nonrecourse debt, at fair value$8,954,068 $7,904,200 

142

Finance of America Companies Inc.Notes to Consolidated Financial Statements

(1)  In October 2024, the Company redeemed outstanding securitized notes related to performing/nonperforming HECM loans held at December 31, 2023. The Company also issued a new securitization related to performing/nonperforming HECM loans. Refer to Note 5 - Variable Interest Entities and Securitizations for additional information. (2) In May 2024, the Company redeemed outstanding securitized notes related to commercial mortgage loans held at December 31, 2023. The Company also issued a new securitization related to commercial mortgage loans. Refer to Note 5 - Variable Interest Entities and Securitizations for additional information.(3) Nonrecourse reverse loan financing liability is comprised of the balance of the nonrecourse debt associated with a non-agency securitization. As the securitization was determined to be an unconsolidated VIE and failed sale treatment, the associated nonrecourse debt is accounted for by the Company and presented separately from the other nonrec