Finance of America Companies Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Cover
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Liquidity and Capital Requirements - Additional information (Detail)

v3.22.2

Liquidity and Capital Requirements - Additional information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Liquidity And Capital Requirements [Line Items]
Minimum net capital requirement	$ 300
Policyholders' Surplus	8,000
Total requirement	4,000
Cash and Cash Equivalents, at Carrying Value	219,033	$ 141,238
State of Missouri
Liquidity And Capital Requirements [Line Items]
Minimum capital and surplus	1,600
State of Alabama
Liquidity And Capital Requirements [Line Items]
Minimum capital and surplus	200
Finance of America Mortgage LLC
Liquidity And Capital Requirements [Line Items]
Minimum adjusted net worth balance of capital requirements	149,700
Adjusted balance of capital requirements	$ 227,279	$ 180,032
Description of factors that may affect minimum net worth requirements	The net worth required is $5.0 million plus 1% of FAR’s 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. FAR is required to maintain a ratio of 6% of net worth to total assets.
Minimum tangible net worth required	$ 110,500
Tangible capital, actual	342,800
Net worth	$ 5,000
Percentage FAR commitment with addition to net worth	1.00%
Percentage of liquidity	20.00%
Percentage of net worth to total assets	6.00%
Cash	$ 22,100
Cash and Cash Equivalents, at Carrying Value	121,900
Finance of America Mortgage LLC \| State of Missouri
Liquidity And Capital Requirements [Line Items]
Adjusted balance of capital requirements	$ 233,100

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Net worth.

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Minimum amount of net capital required to be maintained by broker-dealer and its subsidiary, calculated under Aggregate Indebtedness Standard.

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Carrying amount of cash and investment securities on deposit with state regulatory authorities in connection with capital requirements.

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

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Disclosure for all mortgage companies, containing a description of factors that may affect adequacy of minimum net worth requirements such as potentially volatile components of capital, qualitative factors, and regulatory mandates.

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