Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 265

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 265
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ization of debt discount and issuance costs2,360 — Total senior secured notes4,903 — Exchangeable secured notesContractually stated2,231 — Amortization of debt discount and issuance costs639 — Total exchangeable secured notes2,870 — Unsecured notes22,319 26,731 Working capital notes11,319 4,158 Non-funding interest expense$41,411 $30,889 As of December 31, 2024, the effective interest rate for our Senior Secured Notes and Exchangeable Secured Notes was 19.1% and 13.7%, respectively, which includes amortization of debt discount and issuance costs. As of December 31, 2024, the maturities of notes payable are as follows (in thousands):Year Ending December 31,Amount2025$137,4082026150,754(1)2027—2028—2029146,793Less unamortized debt discount and issuance costs(60,444)Total notes payable, net$374,511

(1) At the election of the Company, the maturity date may be extended to November 2027 as discussed in the Senior Secured Notes section above. 

18.    Litigation The Company’s business is subject to legal proceedings, examinations, investigations, and reviews by various federal, state, and local regulatory and enforcement agencies as well as private litigants such as the Company’s borrowers or former employees. At any point in time, the Company may have open investigations with regulators or enforcement agencies, including examinations and inquiries related to its loan servicing and origination practices. These matters and other pending or potential future investigations, examinations, inquiries, or lawsuits may lead to administrative or legal proceedings, and possibly result in remedies, including fines, penalties, restitution, alterations in business practices, or additional expenses and collateral costs.As a litigation or regulatory matter develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and reasonably estimable. If, at the time of evaluation, the loss contingency is not both probable and reasonably estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and reasonably estimable. Once the matter is deemed to be both probable and reasonably estimable, the Company establishes an accrued liability and records a corresponding amount to litigation related expense. The Company will continue to monitor