PLANO, Texas – Finance of America Reverse LLC announced today the completion of its acquisition of reverse mortgage servicing rights from Onity Mortgage Corporation, a subsidiary of
The all-cash transaction includes approximately 20,000 Ginnie Mae home equity conversion mortgage loans representing $5.2 billion in unpaid principal balance, according to a press release statement. Finance of America is a subsidiary of Finance of America Companies Inc. (), which currently trades at $27.90 with a market capitalization of $478.86 million. The stock has surged 28% over the past week, trading near its 52-week high of $29.58, according to InvestingPro data, which indicates the company remains undervalued based on its Fair Value analysis.
Finance of America has engaged Onity Mortgage as a subservicer under a three-year agreement as part of the transaction.
“Completing this transaction represents an important milestone in our growth strategy,” said Graham Fleming, Chief Executive Officer of Finance of America. “We are pleased to welcome these customers to our platform while establishing a meaningful servicing relationship with Onity.”
The company filed a Current Report on Form 8-K with the Securities and Exchange Commission regarding the transaction. InvestingPro subscribers have access to over 10 additional exclusive tips about FOA, plus comprehensive Pro Research Reports covering this and 1,400+ other US equities.
Finance of America Reverse LLC operates as the reverse mortgage subsidiary of Finance of America Companies Inc., which is headquartered in Plano, Texas. The parent company also offers capital markets and portfolio management capabilities.
In other recent news, Finance of America Companies Inc reported strong financial results for the first quarter of 2026. The company’s adjusted earnings per share rose to $1.10, a 112% increase from the previous year, highlighting significant profitability growth. In addition to the earnings announcement, Finance of America Reverse LLC has appointed three senior executives to enhance its brand, communications, and product divisions. Colm Murphy has taken on the role of Chief Brand Officer, Jordan Baucum has been named Senior Vice President of Communications, and Mike Urban has become Chief Product Officer. These recent developments reflect the company’s ongoing efforts to strengthen its leadership team and operational performance.
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