Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000044
Chunk: 18

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 18
---
 |             |       — |     |             |   31,080 |
| Sales and settlements                |     |                           | -1,581,575 |     |             | -47,875 |     |             | -1,629,450 |     |                                                        | -671,528 |     |             | -58,200 |     |             | -729,728 |

| Nine months ended September 30, 2024 |     | Nonrecourse debt in consolidated VIE trusts and reverse loan financing liability 
 As Previously Reported                                                           |          |     | Adjustments |           |     | As Restated |            |
|:-------------------------------------|:----|:---------------------------------------------------------------------------------|---------:|:----|:------------|----------:|:----|:------------|-----------:|
| Total loss included in earnings      |     | $                                                                                | -455,674 |     | $           |  -130,001 |     | $           |   -585,675 |
| Purchases and additions              |     |                                                                                  | -813,870 |     |             |  -985,648 |     |             | -1,799,518 |
| Settlements                          |     |                                                                                  |  618,047 |     |             | 1,115,649 |     |             |  1,733,696 |

2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements comprise the financial statements of FoA and its controlled subsidiaries. The condensed consolidated financial statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial statements and pursuant to the accounting and disclosure rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). The accompanying financial statements contain all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of its financial condition as of September 30, 2024, its results of operations for the three and nine months ended September 30, 2024 and 2023, and its cash flows for the nine months ended September 30, 2024 and 2023 . The Condensed Consolidated Statement of Financial Condition at December 31, 2023 was derived from audited financial statements but does not contain all of the footnote disclosures from the annual financial statements. Operating results for the interim periods are not necessarily indicative of the results that may be expected for any future period or for the full year. The