Other Financing Lines of Credit - Additional Information (Details) - Line of Credit [Member] |
3 Months Ended | |
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Mar. 31, 2022 |
Dec. 31, 2021 |
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| Financing line of credit outstanding, Weighted average interest rate | 2.74% | 2.75% |
| Financing line of credit Instrument, Covenant Description | The Company’s borrowing arrangements and credit facilities contain various financial covenants which primarily relate to required tangible net worth amounts, liquidity reserves, leverage requirements, and profitability requirements. | |
| Financing line of credit, Covenant Compliance | The terms of the Company’s financing arrangements and credit facilities contain covenants, and the terms of the Company’s GSE/seller servicer contracts contain requirements that may restrict the Company and its subsidiaries from paying distributions to its members. These restrictions include restrictions on paying distributions whenever the payment of such distributions would cause FoA or its subsidiaries to no longer be in compliance with any of its financial covenants or GSE requirements. Further, the Company is generally prohibited under Delaware law from making a distribution to a member to the extent that, at the time of the distribution, after giving effect to the distribution, liabilities of the Company (with certain exceptions) exceed the fair value of its assets. Subsidiaries of the Company are generally subject to similar legal limitations on their ability to make distributions to FoA. |
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- Definition States whether the entity was in compliance with the debt covenants throughout the reporting period, and describes facts and circumstances of any compliance failure. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Description of minimum financial levels (for example, tangible net worth and working capital) and achievement of certain financial ratios (for example, working capital ratio and debt service coverage ratio), and adherence to certain clauses which generally require or restrict certain actions (for example, entering into a debt arrangement with equal or greater seniority, and selling or discontinuing a certain business segment or material subsidiary) to be in compliance with the covenant clauses of the debt agreement. May also include a discussion of the adverse consequences that would result if the entity violates or fails to satisfy the covenants. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Weighted average interest rate of debt outstanding. No definition available.
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- Details
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