Finance of America Companies Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

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

Mortgage Servicing Rights, at Fair Value - Summary of Servicing Portfolio and its Activities (Detail)

v3.22.0.1

Mortgage Servicing Rights, at Fair Value - Summary of Servicing Portfolio and its Activities (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Servicing Assets at Fair Value [Line Items]
Servicing rights		$ 39,299,416	$ 39,299,416	$ 22,269,362
Weighted average interest rate			3.03%	3.10%
Capitalized servicing rights [Member]
Servicing Assets at Fair Value [Line Items]
Beginning balance	$ 22,269,362	26,675,358	$ 22,269,362	$ 288,057
Originations	6,312,227	17,491,713		21,241,997
Purchases	866,806	234,007		1,966,657
Sales MSR	(1,090,267)	(320,027)		(527)
Payoffs MSR	(1,488,977)	(3,935,261)		(991,716)
Other	(193,793)	(846,374)		(235,106)
Changes in fair value due to:
Changes in fair value due to portfolio runoff and other	(193,793)	(846,374)		(235,106)
Ending Balance	26,675,358	39,299,416	39,299,416	22,269,362
Mortgage Servicing Rights [Member]
Servicing Assets at Fair Value [Line Items]
Beginning balance	180,684	267,364	180,684	2,600
Originations	65,964	161,364		159,434
Purchases	9,014	16,915		14,088
Payoffs, sales and curtailments	(8,647)	(2,501)		0
Other	(14,760)	(42,150)		(10,255)
Changes in fair value due to:
Changes in market inputs or assumptions used in valuation model	35,109	26,950		14,817
Changes in fair value due to portfolio runoff and other	(14,760)	(42,150)		(10,255)
Ending Balance	$ 267,364	427,942	427,942	180,684
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member]
Servicing Assets at Fair Value [Line Items]
Servicing rights		37,079,995	37,079,995	20,501,504
Government National Mortgage Association Certificates and Obligations (GNMA) [Member]
Servicing Assets at Fair Value [Line Items]
Servicing rights		1,109,962	1,109,962	1,727,831
Private Investors [Member]
Servicing Assets at Fair Value [Line Items]
Servicing rights		$ 1,109,459	$ 1,109,459	$ 40,027

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Servicing asset at fair value originations.

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Servicing asset at fair value sales.

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The value of new servicing assets, subsequently measured at fair value, acquired or created during the current period through purchases or from transfers of financial assets.

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Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements.

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Amount of increase (decrease) in fair value from changes in the inputs, assumptions, or model used to calculate the fair value of the contract to service financial assets under which the benefits of servicing are expected to more than adequately compensate the servicer.

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Decrease in servicing assets subsequently measured at fair value resulting from conveyance of servicing rights to unrelated parties.

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