Annual report pursuant to Section 13 and 15(d)

Reverse Mortgages Portfolio Composition (Tables)

v3.22.0.1
Reverse Mortgages Portfolio Composition (Tables)
12 Months Ended
Dec. 31, 2021
Reverse Mortgages Portfolio Composition [Abstract]  
Summary of the Composition and the Remaining UPBs of the Reverse Mortgage Loan Portfolio
The table below summarizes the composition and the remaining UPB (in thousands) of the reverse mortgage loan portfolio serviced by the Company:
                 
    
December 31, 2021
    
December 31, 2020
 
    
Successor
    
Predecessor
 
Reverse mortgage loans:
      
 
        
Reverse mortgage loans held for investment, subject to HMBS related obligations
  
$
9,849,835
 
   $ 9,045,104  
Reverse mortgage loans held for investment:
      
 
        
Non-agency
reverse mortgages
  
 
432,144
 
     215,688  
Loans not securitized
(1)
  
 
266,723
 
     168,292  
Unpoolable loans
(2)
  
 
104,551
 
     197,395  
Unpoolable tails
  
 
12,008
 
     8,054  
    
 
 
    
 
 
 
Total reverse mortgage loans held for investment
  
 
815,426
 
     589,429  
Reverse mortgage loans held for investment, subject to nonrecourse debt:
                 
Performing HECM buyouts
  
 
289,089
 
     141,691  
Nonperforming HECM buyouts
  
 
590,729
 
     538,768  
Non-agency
reverse mortgages
  
 
4,285,661
 
     3,777,346  
    
 
 
    
 
 
 
Total reverse mortgage loans held for investment, subject to nonrecourse debt
  
 
5,165,479
 
     4,457,805  
    
 
 
    
 
 
 
Total owned reverse mortgage portfolio
  
 
15,830,740
 
     14,092,338  
Loans reclassified as government guaranteed receivable
  
 
48,625
 
     49,255  
Loans serviced for others
  
 
17,840
 
     123,324  
    
 
 
    
 
 
 
Total serviced reverse mortgage loan portfolio
  
$
15,897,205
 
   $ 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 reverse mortgage portfolio owned by the Company by product type (in thousands):
                 
    
December 31, 2021
    
December 31, 2020
 
    
Successor
    
Predecessor
 
Fixed rate loans
  
$
5,384,865
 
   $ 5,010,659  
Adjustable rate loans
  
 
10,445,875
 
     9,081,679  
    
 
 
    
 
 
 
Total owned reverse mortgage portfolio
  
$
15,830,740
 
   $ 14,092,338