Finance of America Companies Inc. 8K

Finance of America Reverse completed an all-cash acquisition of $5.2 billion in reverse mortgage servicing rights from Onity Mortgage, coupled with a three-year subservicing agreement.

Finance of America Reverse LLC, a subsidiary of Finance of America Companies Inc. (NYSE: FOA), completed an all-cash acquisition of reverse mortgage servicing rights from Onity Mortgage Corporation, a subsidiary of Onity Group Inc., encompassing approximately 20,000 Ginnie Mae home equity conversion mortgage loans with an unpaid principal balance of $5.2 billion; the deal materially expands Finance of America’s HECM servicing portfolio and customer base for homeowners age 55 and older, and includes a three-year subservicing agreement under which Onity Mortgage will continue to subservice the loans to ensure operational continuity and diversify Finance of America’s servicing footprint.

Filing Facts

CIK

1828937

Ticker

-

Form

8K

Source Type

sec

Accession

0001628280-26-046602

Alert Tier

7