Quarterly report pursuant to Section 13 or 15(d)

Reverse Mortgages Portfolio Composition (Tables)

v3.21.2
Reverse Mortgages Portfolio Composition (Tables)
 6 Months Ended
Jun. 30, 2021
Reverse Mortgages Portfolio Composition [Abstract]  
Summary of the Company's Serviced Reverse Mortgage Portfolio Composition and the Remaining UPBs of the Reverse Mortgage Loan Portfolio
The table below summarizes the Company’s serviced reverse mortgage portfolio composition and the remaining UPBs of the reverse mortgage loan portfolio (in thousands):
 
    
June 30, 2021
          
December 31, 2020
  
    
Successor
          
Predecessor
  
Reverse mortgage loans:
           
 
         
Reverse mortgage loans held for investment, subject to HMBS related obligations
   
$
9,406,924
    
 
    $ 9,045,104  
       
Reverse mortgage loans held for investment:
           
 
         
Non-agency
reverse mortgages
   
 
536,739
    
 
      215,688  
Loans not securitized
(1)
   
 
254,004
    
 
      168,292  
Unpoolable loans
(2)
   
 
80,487
    
 
      197,395  
Unpoolable tails
   
 
8,564
    
 
      8,054  
    
 
 
         
 
 
  
Total reverse mortgage loans held for investment
   
 
879,794
            589,429  
       
Reverse mortgage loans held for investment, subject to nonrecourse debt:
                      
Performing HECM buyouts
   
 
276,177
            141,691  
Nonperforming HECM buyouts
   
 
634,342
            538,768  
Non-agency
reverse mortgages
   
 
3,704,609
            3,777,346  
    
 
 
         
 
 
  
Total reverse mortgage loans held for investment, subject to nonrecourse debt
   
 
4,615,128
            4,457,805  
    
 
 
         
 
 
  
       
Total owned reverse mortgage portfolio
   
 
14,901,846
            14,092,338  
Loans reclassified as government guaranteed receivable
   
 
49,813
            49,255  
Loans serviced for others
   
 
18,099
            123,324  
    
 
 
         
 
 
  
Total serviced reverse mortgage loan portfolio
   
$
14,969,758
          $ 14,264,917  
    
 
 
         
 
 
  
 
(1)
Loans not securitized represent primarily newly originated loans.
(2)
Unpoolable loans represent primarily loans that have reached 98% of their MCA.
Summarizes the Owned Reverse Mortgage Portfolio by Product Type
The table below summarizes the owned reverse mortgage portfolio by product type (in thousands):
 
    
June 30, 2021
          
December 31, 2020
  
    
Successor
          
Predecessor
  
Fixed rate loans
   
$
5,181,814
    
 
    $ 5,010,659  
Adjustable rate loans
   
 
9,720,032
    
 
      9,081,679  
    
 
 
         
 
 
  
Total owned reverse mortgage portfolio
   
$
14,901,846
          $ 14,092,338