Finance of America Reverse Mortgage
Finance of America Reverse, which took over AAG's reverse mortgages, is HUD's number two lender of HECMs, the FHA-insured reverse mortgage for homeowners 62 and older.
NMLS 2285: license record · CFPB complaints
Finance of America Reverse made loans in every state and DC, closing 2,755 reverse mortgages over October 2025 to August 2026, after closing 3,863 in fiscal 2025. Just 19 of those loans were used to buy a home; most borrowers remained in the house they already owned.
AAG reverse mortgage is now Finance of America
Known for its AAG television ads, American Advisors Group struck a deal in 2022 to be acquired by Finance of America; the filing with the SEC notes that the closing was expected in the first half of 2023. Later, the FAR and AAG brands were united as Finance of America, according to HousingWire. If you have an AAG reverse mortgage, you should still call the servicer that appears on your statement.
Before you get a quote from Finance of America
Is the quote for a HECM or for a private loan? Be sure to ask. A HECM brings FHA insurance and HUD's fee caps; a private loan doesn't, and it typically charges a higher rate (check jumbo reverse mortgages). Request a written breakdown of the margin, origination fee and closing costs, and then compare them against one or two other reverse mortgage companies.
Finance of America Reverse beside the other two biggest lenders
| Measure |  Mutual of Omaha Mortgage | Finance of America Reverse |  Longbridge Financial |
|---|---|---|---|
| Loans | 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 |
Across all 22,318 HECMs in those months, the median home value was $439,000, the median principal limit $193,982 and the median starting rate 5.75%.
Is Finance of America Reverse a good choice for a reverse mortgage?
HUD's loan files cannot rate service, but they do show how this lender's loans compare with everyone else's.
What counts in its favour
- Rank 2 of 1705 HECM lenders, with 2,755 loans in every state and DC: few companies have closed more of them.
- Its median starting rate, 5.625%, was below the 5.75% median for all HECMs in the same months.
What to check before you sign
- Only 0.7% of its HECMs paid for a home purchase, against 5.5% across all lenders. If you are buying a home, ask how many of these it closes.
- At 2,755 loans in 11 months, it is on pace for about 3,005 this fiscal year, fewer than the 3,863 it closed in fiscal 2025.
- HUD counts show how many loans a lender closes, not how it treats borrowers. Read its CFPB complaints and ask who will service the loan.
Whichever lender you pick, the loan is the same HECM: HUD's lending limit, insurance and fee caps apply to all of them, a HUD-approved counselor must talk you through it first, and your heirs never owe more than 95% of the home's appraised value to keep it (what happens after death).
In which states does Finance of America Reverse do the most lending?
| State | Loans |
|---|---|
| California | 352 |
| Florida | 261 |
| Texas | 213 |
| North Carolina | 147 |
| Georgia | 101 |
Of its loans, 19 were HECM for purchase loans and 161 were refinances of an older reverse mortgage. For its license and any complaints, see NMLS 2285 and the CFPB complaint database. The counts come from HUD's monthly HECM endorsement snapshots; you can download the full lender file as a free CSV on 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.