Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 251

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 251
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 held for sale— 15,580 Net transfers related to discontinued operations— 12,525 Gain (loss) on loans held for sale, net302 (24,542)Net fair value changes on loans held for sale— 9,966 Ending balance$3,454 $4,246 

139

Finance of America Companies Inc.Notes to Consolidated Financial Statements

9.    Mortgage Servicing Rights, at Fair ValueThe servicing portfolio associated with capitalized servicing rights consists of the following (in thousands):December 31, 2024December 31, 2023Fannie Mae/Freddie Mac$— $124,435 Ginnie Mae— 285 Private investors— 931,940 Total UPB$— $1,056,660 Weighted average interest rateN/A3.71 %The activity in the loan servicing portfolio associated with capitalized servicing rights consisted of the following (in thousands): For the year ended December 31, 2024For the year ended December 31, 2023Beginning UPB$1,056,660 $8,602,338 Originated MSR— 42,011 Sales MSR(1,044,708)(7,416,568)Payoffs MSR(4,925)(75,527)Other(7,027)(95,594)Ending UPB$— $1,056,660 The activity in the MSR asset consisted of the following (in thousands):For the year ended December 31, 2024For the year ended December 31, 2023Beginning balance$6,436 $95,096 Originations— 405 Sales(5,516)(86,483)Changes in fair value due to:Changes in market inputs or assumptions used in valuation model(852)(1,014)Changes in fair value due to portfolio runoff and other(68)(1,568)Ending balance$— $6,436 

The value of the MSR was driven by the net cash flows associated with servicing activities. The cash flows included contractually specified servicing fees, late fees, and other ancillary servicing revenue. The fees were $0.3 million and $2.9 million for the years ended December 31, 2024 and 2023, respectively. These fees and changes in fair value of the MSR are recorded within Fee income in the Consolidated Statements of Operations. 

140

Finance of America Companies Inc