Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000042
Chunk: 30

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 30
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      1,044 |
| Other assets:                                                                    |     |                      |            |     |                          |            |
| Loans held for sale - residential mortgage loans                                 |     |                      |      4,246 |     |                          |      9,247 |
| Liabilities at fair value under the fair value option                            |     |                      |            |     |                          |            |
| HMBS related obligations                                                         |     |                      | 17,353,720 |     |                          | 16,875,437 |
| Nonrecourse debt:                                                                |     |                      |            |     |                          |            |
| Nonrecourse debt in consolidated VIE trusts and reverse loan financing liability |     |                      |  7,876,932 |     |                          |  8,429,135 |
| Nonrecourse commercial loan financing liability                                  |     |                      |     27,268 |     |                          |     26,661 |

Fair Value of Other Financial Instruments

As of June 30, 2024 and December 31, 2023, all financial instruments were either recorded at fair value or the carrying value approximated fair value with the exception of notes payable, net . Notes payable, net, includes our senior unsecured high-yield debt and the Company’s non-funding credit lines, including a related-party credit line, recorded at the carrying value of $ 443.0million and $ 410.9million as of June 30, 2024 and December 31, 2023, respectively, and have a fair value of $ 370.8million and $ 345.6million as of June 30, 2024 and December 31, 2023, respectively. The fair value for notes payable, net, was determined using quoted market prices adjusted for accrued interest, which is considered to be a Level 2 input. For other financial instruments that were not recorded at fair value, such as cash and cash equivalents including restricted cash, promissory notes receivable, and other financing lines of credit, the 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.

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

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