Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001828937-25-000033
Chunk: 27

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 1
Chunk 27
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— — Ending balance$18,586,682 $8,407,602 $783 $42,906 LiabilitiesThree months ended March 31, 2024HMBS related obligationsNonrecourse debt in consolidated VIE trusts and reverse loan financing liability Nonrecourse commercial loan financing liabilityDeferred purchase price liabilitiesTRA obligation(As Restated)Beginning balance$(17,353,720)$(7,876,932)$(27,268)$(4,318)$(4,537)Total gain (loss) included in earnings(487,559)(91,167)8,863 1,524 (287)Purchases, settlements, and transfers:Purchases and additions(468,520)(529,497)— — — Settlements482,739 614,124 3,981 — — Ending balance$(17,827,060)$(7,883,472)$(14,424)$(2,794)$(4,824)Fair Value OptionThe Company has elected to measure its loans held for investment, loans held for sale, HMBS related obligations, and nonrecourse debt at fair value under the fair value option. The Company elected to apply the provisions of the fair value option to these assets and liabilities in order to align financial reporting presentation with the Company’s operational and risk management strategies. Presented in the tables below are the fair value and the unpaid principal balance (“UPB”) of financial assets and liabilities for which the Company has elected the fair value option (in thousands):March 31, 2025Estimated Fair ValueUnpaid Principal BalanceAssets at fair value under the fair value optionLoans held for investment, subject to HMBS related obligations$18,809,023 $17,757,747 Loans held for investment, subject to nonrecourse debt:Reverse mortgage loans 9,615,239 9,412,305 Commercial mortgage loans14,911 26,973 Loans held for investment634,104 592,948 Other assets:Loans held for sale - residential mortgage loans3,446 4,316 Liabilities at fair value under the fair value optionHMBS related obligations18,590,357 17,757,747 Nonrecourse debt:Nonrecourse debt in consolidated VIE trusts and reverse loan financing liability9,160,552 9,536,652 Nonrecourse commercial loan financing liability2,847 12,