Mergers & Acquisitions ·
Finance of America Reverse LLC closed a purchase of a reverse mortgage servicing portfolio and certain reverse…
FOAFinance of America Companies Inc.
Finance of America Reverse LLC closed a purchase of a reverse mortgage servicing portfolio and certain reverse originations assets from Onity Mortgage Corporation. The transaction included mortgage servicing rights for approximately 20,000 HECM loans with an unpaid principal balance of $5.2 billion, along with OMC's reverse mortgage loan pipeline and a three-year subservicing arrangement. Finance of America Companies Inc. operates in the mortgage and financial services industry.