Finance of America Reverse LLC /
Onity Mortgage Corporation
Finance of America Reverse LLC amends deal to buy Onity Mortgage Corporation reverse mortgage servicing assets
Source for the buyer and target: Finance of America Companies Inc.
For the buyer and target.
“On April 30, 2026, Finance of America Reverse LLC (“FAR”), an indirect subsidiary of Finance of America Companies Inc., and Onity Mortgage Corporation (formerly known as PHH Mortgage Corporation) (“OMC”) entered into an amendment (the “Amendment”) to the parties’ agreements for the sale of OMC’s reverse mortgage servicing portfolio and certain reverse originations assets.”
Published 5 May 2026
Open the sourceWhat happened
Finance of America Reverse LLC, an indirect subsidiary of Finance of America Companies Inc., agreed on April 30, 2026, to amend its existing purchase agreements with Onity Mortgage Corporation. The original agreements are dated Nov. 17, 2025. [01]
Under the amended terms, Finance of America Reverse LLC will buy servicing rights tied to about 20,000 reverse mortgage loans with an unpaid principal balance of $5.1 billion as of March 31, 2026. It will also take on the reverse mortgage pipeline and some originations employees. Onity Mortgage Corporation will subservice the loans and stop its reverse originations business at closing. The price will be set at the estimated book value of the purchased assets, with adjustments and holdbacks. A dollar price wasn't disclosed. [01]
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Finance of America Reverse LLC amends deal to buy Onity Mortgage Corporation reverse mortgage servicing assets
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“Under the amended terms, Finance of America Reverse LLC will buy servicing rights tied to about 20,000 reverse mortgage loans with an unpaid principal balance of $5.1 billion as of March 31, 2026”
Open the sourceAgreement signed
“Finance of America Reverse LLC amends deal to buy Onity Mortgage Corporation reverse mortgage servicing assets Finance of America Reverse LLC, an indirect subsidiary of Finance of America Companies Inc., agreed on Apr…”
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