Quarterly report pursuant to Section 13 or 15(d)

Reverse Mortgages Portfolio Composition (Tables)

v3.21.2
Reverse Mortgages Portfolio Composition (Tables)
6 Months Ended
Jun. 30, 2021
Reverse Mortgages Portfolio Composition [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 Company’s serviced reverse mortgage portfolio composition and the remaining UPBs of the reverse mortgage loan portfolio (in thousands):
 
    
June 30, 2021
         
December 31, 2020
 
    
Successor
         
Predecessor
 
Reverse mortgage loans:
          
 
        
Reverse mortgage loans held for investment, subject to HMBS related obligations
  
$
9,406,924
   
 
   $ 9,045,104  
       
Reverse mortgage loans held for investment:
          
 
        
Non-agency
reverse mortgages
  
 
536,739
   
 
     215,688  
Loans not securitized
(1)
  
 
254,004
   
 
     168,292  
Unpoolable loans
(2)
  
 
80,487
   
 
     197,395  
Unpoolable tails
  
 
8,564
   
 
     8,054  
    
 
 
        
 
 
 
Total reverse mortgage loans held for investment
  
 
879,794
           589,429  
       
Reverse mortgage loans held for investment, subject to nonrecourse debt:
                     
Performing HECM buyouts
  
 
276,177
           141,691  
Nonperforming HECM buyouts
  
 
634,342
           538,768  
Non-agency
reverse mortgages
  
 
3,704,609
           3,777,346  
    
 
 
        
 
 
 
Total reverse mortgage loans held for investment, subject to nonrecourse debt
  
 
4,615,128
           4,457,805  
    
 
 
        
 
 
 
       
Total owned reverse mortgage portfolio
  
 
14,901,846
           14,092,338  
Loans reclassified as government guaranteed receivable
  
 
49,813
           49,255  
Loans serviced for others
  
 
18,099
           123,324  
    
 
 
        
 
 
 
Total serviced reverse mortgage loan portfolio
  
$
14,969,758
         $ 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 owned reverse mortgage portfolio by product type (in thousands):
 
    
June 30, 2021
         
December 31, 2020
 
    
Successor
         
Predecessor
 
Fixed rate loans
  
$
5,181,814
   
 
   $ 5,010,659  
Adjustable rate loans
  
 
9,720,032
   
 
     9,081,679  
    
 
 
        
 
 
 
Total owned reverse mortgage portfolio
  
$
14,901,846
         $ 14,092,338