Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 237

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 237
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consolidated VIEs for which the Company holds variable interests (in thousands):December 31, 2024Carrying valueAssetsLiabilitiesMaximum exposure to lossTotal assets in VIEsTransfers of loans - sale treatmentRetained interests$47,568 $— $47,568 $948,364 Transfers of loans - secured borrowingLoans and nonrecourse liability393,405 374,071 19,334 393,405 TOTAL $440,973 $374,071 $66,902 $1,341,769  December 31, 2023Carrying valueAssetsLiabilitiesMaximum exposure to lossTotal assets in VIEsTransfers of loans - sale treatmentRetained interests$50,774 $— $50,774 $1,008,152 Transfers of loans - secured borrowingLoans and nonrecourse liability389,557 368,343 21,214 389,557 TOTAL $440,331 $368,343 $71,988 $1,397,709 As of December 31, 2024 and December 31, 2023, there were $0.2 million and $0.7 million, respectively, of mortgage loans transferred by the Company to unconsolidated securitization trusts that are 90 days or more past due.

6.    Fair ValueFair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is based on the assumptions market participants would use when pricing an asset or liability and follows a fair value hierarchy that prioritizes the information used to develop those assumptions. The fair value hierarchy gives the highest priority to quoted prices available in active markets (i.e., observable inputs) and the lowest priority to data lacking transparency (i.e., unobservable inputs). In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.

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Finance of America Companies Inc.Notes to Consolidated Financial Statements

All aspects of nonperformance risk, including the Company’s own credit standing, are considered when measuring the fair value of a liability.Following is a description of the three levels of the fair value hierarchy: Level 1 Inputs