Finance of America Reverse Mortgage
As a reverse mortgage lender, Finance of America Reverse offers HECMs, the FHA-insured reverse mortgage, to homeowners who are 62 and older. It acquired AAG.
By HUD loan count, October 2025 through August 2026, it ranks 2 out of 1,705.
The median home value and starting rate for all HECMs, October 2025–August 2026, were $439,000 and 5.75%.
No matter which lender you use, the estimate reflects the same HECM figure. The quote you get can still vary because of a lender’s margin and the appraisal.
Its largest loan volumes are in California (352), Florida (261), and Texas (213).
NMLS 2285: license record · CFPB complaints
From October 2025 through August 2026, Finance of America Reverse closed 2,755 reverse mortgages across all states and DC, after closing 3,863 in fiscal 2025. A home purchase was the reason for just 19 of those loans; most people kept living in their current house.
AAG reverse mortgage is now Finance of America
American Advisors Group, recognized for its AAG television ads, agreed in 2022 to be bought by Finance of America; the SEC filing states that the deal would likely close during the first half of 2023. Afterward, FAR and AAG were brought together under the Finance of America name, HousingWire reported. If you hold an AAG reverse mortgage, you should still phone the servicer shown on your statement.
Before you request a quote from Finance of America
Does the quote cover a HECM or a private loan? Don’t forget to ask. FHA insurance and HUD's fee caps apply to a HECM. A private loan lacks both, and its rate is typically higher (see jumbo reverse mortgages). Have the margin, origination fee and closing costs put in writing, and compare them with quotes from one or two more reverse mortgage companies.
Finance of America Reverse next to the two other largest lenders
| HUD figures |  Mutual of Omaha Mortgage | Finance of America Reverse |  Longbridge Financial |
|---|---|---|---|
| Loans in these months | 3,842 | 2,755 | 2,116 |
| Fiscal 2025 loans | 5,006 | 3,863 | 2,258 |
| Median home value | $401,500 | $415,000 | $403,500 |
| Median principal limit | $173,990 | $181,074 | $179,954 |
| Median starting rate | 5.875% | 5.625% | 5.75% |
| For purchase loans | 227 | 19 | 44 |
| Refinances | 158 | 161 | 100 |
Looking at the full 22,318 HECMs in that window: median home value $439,000, median principal limit $193,982 and median starting rate 5.75%.
Is a reverse mortgage from Finance of America Reverse a good fit?
You can't judge service from HUD's loan files, but they do let you see how this lender's numbers stack up against others.
What works in its favor
- With 2,755 loans across every state and DC, it's ranked 2 out of 1,705 HECM lenders; just one company closed more.
- The median for all HECMs in those months was 5.75%, and its median starting rate of 5.625% came in under that.
Items to review before signing
- Just 0.7% of its HECMs went toward a home purchase, compared with 5.5% for all lenders combined. If you’re buying a home, find out how many of these loans it closes.
- It closed 2,755 loans over 11 months, so it's heading toward about 3,005 this fiscal year, which is below the fiscal 2025 total of 3,863.
- What HUD counts reveal is the number of loans a lender closes, not how borrowers are treated. Check its CFPB complaints and ask who will handle the servicing.
Every HECM is the same loan, no matter the lender you go with: the caps on fees, insurance and HUD's lending limit all apply, a HUD-approved counselor has to walk you through it first, and your heirs keep the home if they pay back the lesser of the outstanding amount or 95% of what it's worth on an appraisal (what happens after death).
Which states see the most lending from Finance of America Reverse?
| State | Loans |
|---|---|
| California | 352 |
| Florida | 261 |
| Texas | 213 |
| North Carolina | 147 |
| Georgia | 101 |
Out of its total, 19 loans were HECM for purchase and 161 were refinances of older reverse mortgages. Check NMLS 2285 for its license and the CFPB complaint database for any complaints. HUD's monthly HECM endorsement snapshots are the source for these counts; a free CSV of the entire lender file is available at reverse mortgage companies.
Want a quote to set beside Finance of America Reverse? Call (833) 962-5300. A reverse mortgage specialist answers; we are not a lender.