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

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

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

FAR is a residential mortgage originator primarily focused on providing senior homeowners reverse mortgages through U.S. Department of Housing and Urban Development insured home equity conversion mortgages 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. 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., and Puerto Rico. In 2023, the Company originated more than 8,700 reverse mortgages totaling more than $1.6 billion, and, as of March 31, 2024, FAR originated approximately 1,600 reverse mortgages, totaling more than $348 million.

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

Morningstar DBRS 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 28, 2024), which can be found on https://dbrs.morningstar.com under Methodologies & Criteria.

For more information on this industry, visit https://dbrs.morningstar.com or contact us at info@dbrsmorningstar.com.

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