Quarterly report pursuant to Section 13 or 15(d)

Reverse Mortgage Portfolio Composition (Tables)

v3.22.2.2
Reverse Mortgage Portfolio Composition (Tables)
9 Months Ended
Sep. 30, 2022
Receivables [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 composition and the remaining UPB (in thousands) of the reverse mortgage loan portfolio serviced by the Company:
September 30, 2022 December 31, 2021
Reverse mortgage loans:
Reverse mortgage loans held for investment, subject to HMBS related obligations $ 10,609,500  $ 9,849,835 
Reverse mortgage loans held for investment:
Non-agency reverse mortgages 839,877  432,144 
Loans not securitized(1)
137,477  266,723 
Unpoolable loans(2)
91,286  104,551 
Unpoolable tails 9,408  12,008 
Total reverse mortgage loans held for investment 1,078,048  815,426 
Reverse mortgage loans held for investment, subject to nonrecourse debt:
Performing HECM buyouts 320,625  289,089 
Nonperforming HECM buyouts 584,206  590,729 
Non-agency reverse mortgages 5,596,371  4,285,661 
Total reverse mortgage loans held for investment, subject to nonrecourse debt 6,501,202  5,165,479 
Total owned reverse mortgage portfolio 18,188,750  15,830,740 
Loans reclassified as government guaranteed receivable 67,706  48,625 
Loans serviced for others 12,991  17,840 
Total serviced reverse mortgage loan portfolio $ 18,269,447  $ 15,897,205 
(1) Loans not securitized represent primarily newly originated loans.
(2) Unpoolable loans represent primarily 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, 2022 December 31, 2021
Fixed rate loans $ 6,364,867  $ 5,384,865 
Adjustable rate loans 11,823,883  10,445,875 
Total owned reverse mortgage portfolio $ 18,188,750  $ 15,830,740