Quarterly report pursuant to Section 13 or 15(d)

Reverse Mortgage Portfolio Composition (Tables)

v3.23.1
Reverse Mortgage Portfolio Composition (Tables)
3 Months Ended
Mar. 31, 2023
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 outstanding UPB (in thousands) of the reverse mortgage loan portfolio serviced by the Company:
March 31, 2023 December 31, 2022
Reverse mortgage loans:
Reverse mortgage loans held for investment, subject to HMBS related obligations $ 15,850,053  $ 10,719,000 
Reverse mortgage loans held for investment:
Non-agency reverse mortgages 275,390  489,038 
Loans not securitized(1)
199,145  88,029 
Unpoolable loans(2)
200,686  136,657 
Unpoolable tails 10,703  11,076 
Total reverse mortgage loans held for investment 685,924  724,800 
Reverse mortgage loans held for investment, subject to nonrecourse debt:
Performing HECM buyouts 333,324  328,845 
Nonperforming HECM buyouts 515,502  541,071 
Non-agency reverse mortgages 7,125,555  6,370,209 
Total reverse mortgage loans held for investment, subject to nonrecourse debt 7,974,381  7,240,125 
Total owned reverse mortgage portfolio 24,510,358  18,683,925 
Loans reclassified as government guaranteed receivable 92,905  76,033 
Loans serviced for others 209,243  81,436 
Total serviced reverse mortgage loan portfolio $ 24,812,506  $ 18,841,394 
(1) Loans not securitized represent primarily newly originated loans and poolable tails.
(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):
March 31, 2023 December 31, 2022
Fixed rate loans $ 6,776,128  $ 6,548,902 
Adjustable rate loans 17,734,230  12,135,023 
Total owned reverse mortgage portfolio $ 24,510,358  $ 18,683,925