Company: AFRM
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001820953-25-000012
Chunk: 26

Company: Affirm Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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$309,097 $204,531 Provision for loan losses147,069 116,160 301,874 208,988 Charge-offs(142,912)(91,633)(264,360)(162,476)Recoveries of charged-off receivables9,068 5,609 17,220 11,161 Balance at end of period$363,831 $262,204 $363,831 $262,204 Loan Modifications for Borrowers Experiencing Financial DifficultyWe have a loan modification program for borrowers experiencing financial difficulty if certain eligibility criteria are met. A loan is evaluated for modification program eligibility when a borrower self-reports financial hardship, either when a borrower contacts us directly or upon making contact with the borrower to determine eligibility when a loan payment is past due. The objectives of the loan modification program are to offer borrowers assistance during times of financial stress, increase collections, and minimize losses.We have two primary loan modification strategies: payment deferrals and loan re-amortization. A payment deferral provides the borrower relief by extending the due date for the next payment due. While a borrower may obtain more than one deferral, the total deferral period may not exceed three months. A loan re-amortization provides the borrower relief by lowering monthly payments through extending the term length of the loan; however, the total remaining term may not exceed twenty-four months. In addition, the total interest due from the consumer will not exceed the initial total interest due prior to modification, and a loan may not be re-amortized more than once. 

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 The following tables present the amortized cost basis of loans excluding accrued interest receivable that were modified for borrowers experiencing financial difficulty during the three and six months ended December 31, 2024 and 2023, by type of modification (in thousands):Three Months Ended December 31,20242023(1)Payment deferral$10,189 $20,899 Loan re-amortization170 663 Total$10,359 $21,561 % of total loan receivables outstanding0.15 %0.42 %Six Months Ended December 31,20242023(1)Payment deferral$16,096 $28,960 Loan re-amortization274 1,132 Total$16,370 $30,092 % of total loan receivables outstanding0.24 %0.58 %(1)Amount