DBRS Morningstar Publishes Residential Reverse Mortgage Originator Ranking Report on Finance of America Reverse, LLC

DBRS, Inc. (DBRS Morningstar) published its residential reverse mortgage originator ranking report on Finance of America Reverse LLC (FAR or the Company).

DBRS Morningstar previously confirmed its MOR RVO2 residential reverse mortgage originator ranking for FAR. The trend on the ranking is Stable.

FAR is a residential mortgage originator primarily focused on providing senior homeowners reverse mortgages through U.S. Department of Housing and Urban Development (HUD) insured home equity conversion mortgages (HECMs) and a proprietary jumbo reverse mortgage product branded as HomeSafe. FAR, founded in 2003 as Urban Financial Group, Inc., is a wholly owned indirect subsidiary of Finance of America Equity Capital LLC (FOAEC). Finance of America Companies Inc. (Finance of America or FOA) directly and indirectly owns a portion of the ownership interests in FOAEC and controls FOAEC. FAR is licensed to operate in all 50 states; Washington, D.C.; Puerto Rico; and the U.S. Virgin Islands. In 2022, the Company acquired or originated over 14,000 reverse mortgages totaling over $4.9 billion and had a servicing portfolio exceeding $18 billion.

All rankings are subject to surveillance, which could result in rankings being raised, lowered, placed under review, confirmed, or discontinued by DBRS Morningstar.

DBRS Morningstar mortgage originator rankings are not credit ratings. Instead, they are designed to evaluate the quality of the parties that originate residential mortgage loans. Although the originator’s financial condition contributes to the applicable ranking, its relative importance is such that an originator’s ranking should never be considered as a proxy of its creditworthiness.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodology is U.S. Residential Mortgage Originator Rankings (June 26, 2023), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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