Onity Group Inc. won regulatory approval for a revised sale of most of its reverse mortgage servicing rights to Finance of America (FOA), the company said Tuesday. Under the new agreement, Onity will sell MSRs on about 20,000 Home Equity Conversion Mortgages (HECMs) with an unpaid principal balance of $5.1 billion as of March 31. […]
Onity approved to sell reverse MSRs to Finance of America Read More »
Finance of America (FOA) has expanded access to its HomeSafe Second product into Indiana, Ohio and Michigan, giving senior homeowners more options for tapping record levels of home equity without giving up their low post-pandemic mortgage rates, the company announced Tuesday. Reintroduced in 2023 as what the company called the industry’s first second-lien reverse mortgage,
Finance of America expands HomeSafe Second reverse mortgage to three more states Read More »
Onity Group, the parent company of PHH Mortgage Corp. and its reverse mortgage arm, Liberty Reverse Mortgage, announced this week that it has chosen to stop originating reverse mortgages. Instead, Onity said it’s selling almost all of its reverse mortgage business to Finance of America (FOA). PHH is selling reverse mortgage servicing rights (MSRs) for
FOA maps next steps after PHH reverse asset acquisition Read More »
Onity Group — the parent company of PHH Mortgage Corp. and its reverse mortgage arm, Liberty Reverse Mortgage — announced on Tuesday that the company has entered into a “strategic relationship” with Finance of America (FOA) to sell $9.6 billion in mortgage servicing rights (MSRs), among other agreements. A press release said that PHH/Liberty will
PHH Mortgage will halt reverse originations, sell MSRs to Finance of America Read More »
In an effort to nudge older homeowners to tap into their home equity, the reverse mortgage space is expanding beyond federally backed offerings as lenders develop proprietary products with fewer restrictions. The push reflects a confluence of factors: rising home values, inflation, relatively high mortgage rates and a swelling population of Americans nearing or entering
Proprietary reverse loans give younger homeowners more options Read More »
Top U.S. reverse mortgage lenders are entering a new phase in their artificial intelligence (AI) strategy: deploying customer-facing tools to engage more directly with seniors. After achieving operational efficiencies by using AI internally, lenders now plan to roll out chatbots, voice agents and digital prequalification tools to a broader base of borrowers starting in the
Reverse mortgage AI tools set to transform senior borrower experience Read More »
Home Equity Conversion Mortgage (HECM) endorsements fell sharply in August, even as a handful of reverse mortgage lenders continued to dominate the market. The Federal Housing Administration (FHA) insured 2,062 HECMs in August, according to data compiled by New View Advisors that was released on Wednesday. That marked a 13% decline from July and the
Reverse mortgage production metrics took a tumble in August Read More »
The publicly traded companies in the reverse mortgage space were largely profitable in the second quarter of 2025, despite a challenging macroeconomic backdrop. As a group, they posted $1.2 billion in originations in Q2 2025, compared to $1 billion in the first quarter. Executives pointed to stronger demand for home equity products among seniors, as
Reverse mortgage lenders log Q2 profits amid home equity, AI push Read More »
Finance of America (FOA) continued its recent streak of growth in the second quarter of 2025, funding $602 million in mortgages and producing $80 million in net income. FOA, one of the nation’s leading reverse mortgage lenders, exceeded the top end of its stated quarterly guidance for investors as the $602 million in volume from
Finance of America reports $80M profit, buys out Blackstone Read More »
On Wednesday, Reverse Mortgage Daily (RMD) brought you a ranking of the top five reverse mortgage loan originators in America. Today, we’ll round out the rest of the top 10 based on data from mortgage recruiting software provider Modex. #6: Jacob Flax, Caliver Beach Mortgage, $76.17 million The third member of the Caliver Beach Mortgage
The top 10 reverse mortgage LOs in the country Read More »