Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000044
Chunk: 35

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 35
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                           |    34,338 |     |                   |  38,343 |
| Commercial Lines:                     |     |                                                               |     |                         |     |                   |           |     |                           |           |     |                   |         |
| N/A                                   |     | N/A                                                           |     | Mortgage Related Assets |     |                   |         — |     |                           |         — |     |                   |  20,000 |
| Total other financing lines of credit |     |                                                               |     |                         |     | $                 | 1,508,304 |     | $                         | 1,054,568 |     | $                 | 928,479 |

(1) Capacity is dependent upon maintaining compliance with, or obtaining waivers of, the terms, conditions, and covenants of the respective agreements, including asset-eligibility requirements. Capacity amounts presented are as of September 30, 2024. The lines of credit with no capacity are terminated as of September 30, 2024.

(2) The other financing line of credit with a maturity date in November 2024 has been renewed subsequent to September 30, 2024.

(3) These lines of credit are tied to the maturity date of the underlying mortgage related assets that have been pledged as collateral.

As of September 30, 2024 and December 31, 2023, the weighted average outstanding interest rates on outstanding financing lines of credit of the Company were 7.61% and 6.90%, respectively.

The Company’s financing arrangements and credit facilities contain various financial covenants, which primarily relate to required tangible net worth amounts, liquidity reserves, leverage ratios, and profitability.

As of September 30, 2024, the Company was in compliance with all of its financial covenants related to required liquidity reserves, debt service coverage ratio, tangible net worth amounts, and required profitability.

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| Finance of America Companies Inc.                                
 Notes to Condensed Consolidated Financial Statements (Unaudited) |

The terms of the Company’s financing arrangements and credit facilities contain covenants, and the terms of the Company’s government sponsored entities (“GSE”)/seller servicer contracts contain requirements that may restrict FoA Equity and its subsidiaries from paying distributions to its members. These restrictions include restrictions on paying distributions whenever the payment of such distributions would cause FoA Equity or its subsidiaries to no longer be in compliance with any of its financial covenants or GSE requirements. Further