Company: FOACW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001828937-25-000061
Chunk: 67

Company: Finance of America Companies Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 67
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 the exception of notes payable, net. Notes payable, net, includes our senior unsecured notes due 2025 (the “2025 Unsecured Notes”), senior secured notes due 2026 (the “Senior Secured Notes”), exchangeable senior secured notes due 2029 (the “Exchangeable Secured Notes”) (the Senior Secured Notes and the Exchangeable Secured Notes collectively, the “Secured Notes”), and the revolving working capital promissory note agreements (the “Working Capital Promissory Notes”), recorded at the carrying value of $383.9 million and $374.5 million as of June 30, 2025 and December 31, 2024, respectively, and which have a fair value of $449.6 million and $467.9 million as of June 30, 2025 and December 31, 2024, respectively. The Senior Secured Notes have a fair value of $181.5 million and $185.6 million as of June 30, 2025 and December 31, 2024, 

28

Finance of America Companies Inc.Notes to Condensed Consolidated Financial Statements (Unaudited)

respectively, and the Exchangeable Secured Notes have a fair value of $176.9 million and $191.1 million as of June 30, 2025 and December 31, 2024, respectively. The fair value for notes payable, net, was determined using quoted market prices adjusted for accrued interest, which is considered to be a Level 2 input. For other financial instruments that were not recorded at fair value, such as cash and cash equivalents including restricted cash, promissory notes receivable, and other financing lines of credit, the carrying value approximates fair value due to the short-term nature of such instruments. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 3 inputs, with the exception of cash and cash equivalents, including restricted cash, which are Level 1 inputs.

6.    Reverse Mortgage Loan PortfolioThe table below summarizes the composition and the outstanding UPB of the reverse mortgage loan portfolio serviced by the Company (in thousands):June 30, 2025December 31, 2024Reverse mortgage loans held for investment, subject to HMBS related obligations$17,817,676 $17,652,495 Reverse mortgage loans held for investment, subject to nonrecourse debt:Non-agency