| 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 composition and the outstanding UPB of the reverse mortgage loan portfolio serviced by the Company (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2024 |
|
December 31, 2023 |
| Reverse mortgage loans: |
|
|
|
|
| Reverse mortgage loans held for investment, subject to HMBS related obligations |
|
$ |
17,493,824
|
|
|
$ |
16,875,437 |
|
|
|
|
|
|
| Reverse mortgage loans held for investment, subject to nonrecourse debt: |
|
|
|
|
| Non-agency reverse mortgages |
|
8,236,314
|
|
|
7,631,601 |
|
| Performing HECM buyouts |
|
201,406
|
|
|
216,184 |
|
| Nonperforming HECM buyouts |
|
345,382
|
|
|
409,965 |
|
| Total reverse mortgage loans held for investment, subject to nonrecourse debt |
|
8,783,102
|
|
|
8,257,750 |
|
|
|
|
|
|
| Reverse mortgage loans held for investment: |
|
|
|
|
| Non-agency reverse mortgages |
|
352,308
|
|
|
241,424 |
|
HECM loans not securitized(1)
|
|
98,916
|
|
|
101,820 |
|
Unpoolable HECM loans(2)
|
|
184,738
|
|
|
203,957 |
|
| Unpoolable HECM tails |
|
12,382
|
|
|
11,376 |
|
| Total reverse mortgage loans held for investment |
|
648,344
|
|
|
558,577 |
|
|
|
|
|
|
| Total owned reverse mortgage portfolio |
|
26,925,270
|
|
|
25,691,764 |
|
| Loans reclassified as government guaranteed receivable |
|
54,270
|
|
|
94,636 |
|
| Loans serviced for others |
|
141,267
|
|
|
164,742 |
|
| Total serviced reverse mortgage loan portfolio |
|
$ |
27,120,807
|
|
|
$ |
25,951,142 |
|
(1) Loans not securitized primarily represent newly originated loans and poolable tails.
(2) Unpoolable loans primarily represent loans that have reached 98% of their maximum claim amount (“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):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2024 |
|
December 31, 2023 |
| Adjustable rate loans |
|
$ |
19,682,414
|
|
|
$ |
18,874,588 |
|
| Fixed rate loans |
|
7,242,856
|
|
|
6,817,176 |
|
| Total owned reverse mortgage portfolio |
|
$ |
26,925,270
|
|
|
$ |
25,691,764 |
|
|