Company: FOACW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052025
Chunk: 87

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 87
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23,622 — — 23,622 Marketing and advertising expenses29,457 40 29,497 46 — 29,543 Depreciation and amortization28,338 64 28,402 806 — 29,208 General and administrative expenses20,249 10,307 30,556 17,730 (369)47,917 Total expenses146,774 60,903 207,677 49,362 (369)256,670 Impairment of other assets— — — (600)— (600)Other, net(174)— (174)2,275 — 2,101 Net income (loss) before taxes$10,378 $252,573 $262,951 $(74,326)$— $188,625 Total assets$288,556 $28,658,666 $28,947,222 $1,397,698 $(1,398,363)$28,946,557 

15.    Liquidity and Capital RequirementsCompliance RequirementsFARAs an issuer of HMBS, FAR is subject to minimum net worth, liquidity, and leverage requirements as well as minimum insurance coverage established by Ginnie Mae. The minimum net worth required is $5.0 million plus 1% of FAR’s outstanding HMBS and unused commitment authority from Ginnie Mae. The liquidity requirement is for 20% of FAR’s required net worth to be in the form of cash or cash equivalent assets. The leverage requirement is to maintain a ratio of net worth to total assets of at least 6%.As of September 30, 2025, FAR was in compliance with the minimum net worth, liquidity, capitalization levels, and insurance requirements of Ginnie Mae. The minimum net worth required of FAR by Ginnie Mae was $196.6 million as of September 30, 2025. FAR’s actual net worth calculated based on Ginnie Mae guidance was $607.7 million as of September 30, 2025. The minimum liquidity required of FAR by Ginnie Mae was $39.3 million as of September 30, 2025. FAR’s actual cash and cash equivalents were $82.2 million as of September 30, 2025. FAR’s actual ratio of net worth to total assets was below the Ginnie Mae requirement due to the Company’s determination