Finance of America Reverse LLC (formerly Urban Financial Group) Review

All About Finance of America Reverse LLC, formerly Urban Financial Reverse Mortgage

Founded in 2003 as Urban Financial, this large reverse mortgage lender was a privately-held company until 2010, when it was acquired by Knight Capital Group. Urban was sold to Walter Investment Management Corp., in 2013. In late 2015, Urban changed its name to Finance of America Reverse (FAR).

As for the company itself, Finance of America Reverse is headquartered in Tulsa, Oklahoma, licensed in 42 states, and employees over 100 people. The company has been featured on various television programs. One program highlighted on FAR’s website is a segment on Baby Boomers in America with actress Morgan Fairchild.

Interested in learning more about a reverse mortgage? Click here for more information, absolutely free.

Customer Reviews

Finance of America Reverse is accredited by the Better Business Bureau, and as of this writing Urban has an “A+” rating, the BBB’s highest available score on a scale of A+ to F. There have been only four complaint logged against Urban in the past three years, which is also impressive.

Urban Financial / Finance of America Reverse Statistics

This lender is one of the largest in the country. Here is a break down of its total loans and max claim amounts by month since the start of 2015:

Date Loans Total Max. Claim
2015-01-01 138 35,369,726
2015-02-01 122 31,424,294
2015-03-01 127 30,350,100
2015-04-01 147 38,121,000
2015-05-01 106 28,700,675
2015-06-01 113 26,824,600
2015-07-01 177 47,652,528
2015-08-01 138 37,838,300
2015-09-01 98 25,203,746
2015-10-01 139 40,573,000
2015-11-01 116 30,360,000
2015-12-01 130 36,942,665
2016-01-01 117 34,942,700
2016-02-01 144 37,599,808
2016-03-01 120 34,573,381
2016-04-01 107 30,121,017
2016-05-01 126 36,022,078
2016-06-01 106 30,472,694
2016-07-01 99 31,765,516
2016-08-01 211 59,198,034
2016-09-01 147 40,852,504
2016-10-01 152 43,789,800
2016-11-01 197 55,671,000
2016-12-01 154 45,733,553
2017-01-01 141 38,111,448
2017-02-01 79 22,755,000
2017-03-01 187 53,465,440
2017-04-01 199 57,873,233
2017-05-01 119 37,617,629
2017-06-01 189 58,517,485
2017-07-01 168 47,595,068
2017-08-01 208 56,718,004
2017-09-01 158 45,146,100
2017-10-01 209 61,177,715
2017-11-01 181 54,322,500
2017-12-01 159 45,565,400
2018-01-01 167 53,455,250
2018-02-01 162 45,865,447
2018-03-01 129 39,185,400
2018-04-01 117 37,143,350
2018-05-01 122 35,162,350
2018-06-01 130 38,229,750
2018-07-01 130 37,167,000
2018-08-01 137 42,536,650
2018-09-01 120 34,019,050
2018-10-01 103 33,404,320
2018-11-01 101 27,464,750
2018-12-01 64 18,899,000
2019-01-01 16 4,419,950
2019-02-01 187 51,796,225
2019-03-01 64 21,128,675
2019-04-01 81 26,124,475
2019-05-01 69 21,229,650
2019-06-01 70 22,585,125
2019-07-01 88 28,296,075
2019-08-01 59 20,117,700
2019-09-01 63 23,299,500
2019-10-01 58 21,870,200
2019-11-01 65 23,698,150
2019-12-01 58 18,448,425
2020-01-01 87 32,888,675
2020-02-01 82 31,487,550
2020-03-01 91 33,115,990
2020-04-01 79 30,996,775
2020-05-01 125 50,967,720
2020-06-01 119 50,882,100
2020-07-01 115 53,265,940
2020-08-01 113 54,544,305
2020-09-01 132 62,997,500
2020-10-01 158 72,917,904
2020-11-01 126 55,631,900
2020-12-01 199 86,693,600
2021-01-01 117 51,028,719
2021-02-01 149 68,060,650
2021-03-01 189 86,021,600
2021-04-01 134 65,529,600
2021-05-01 132 70,132,625
2021-06-01 133 70,074,400
2021-07-01 100 50,439,941
2021-08-01 95 49,519,750
2021-09-01 92 51,535,175
2021-10-01 156 81,460,815
2021-11-01 164 87,315,306
2021-12-01 216 112,148,755
2022-01-01 184 97,392,925
2022-02-01 123 66,234,575
2022-03-01 193 100,989,500
2022-05-01 247 142,642,929
2022-04-01 247 135,294,200
2022-06-01 285 167,582,525
2022-07-01 246 141,943,600
2022-08-01 174 97,850,600
2022-09-01 93 54,893,900
2022-10-01 54 30,411,291
2022-11-01 52 25,722,900
2022-12-01 23 12,054,600
2023-01-01 54 27,290,627
2023-02-01 38 17,804,600
2023-03-01 51 23,975,700
2023-04-01 63 34,880,100
2023-05-01 69 36,815,224
2023-06-01 565 236,553,068
2023-07-01 515 215,585,100
2023-08-01 671 282,026,900
2023-09-01 663 280,112,033
2023-10-01 571 238,034,585
2023-11-01 484 202,639,800
2023-12-01 416 183,140,600
2024-01-01 467 194,328,090
2024-02-01 384 168,637,742
2024-03-01 275 120,380,110
2024-04-01 414 187,454,843
2024-05-01 388 176,974,945
2024-06-01 820 369,114,854
2024-07-01 343 147,322,785
2024-08-01 393 176,443,175
2024-09-01 333 144,401,847
2024-10-01 363 167,454,126

Since the beginning of 2015, Urban Financial / Finance of America has originated the second most reverse mortgages in the US:

Lender Loans
AMERICAN ADVISORS GROUP 92,579
FINANCE OF AMERICA REVERSE LLC 20,952
MUTUAL OF OMAHA MORTGAGE INC. 19,671
ONE REVERSE MORTGAGE LLC 17,104
REVERSE MORTGAGE FUNDING LLC 16,263
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12,057
LONGBRIDGE FINANCIAL LLC 8,536
LIBERTY HOME EQUITY SOLUTIONS INC 7,725
SYNERGY ONE LENDING INC. 6,849
PHH MORTGAGE CORPORATION 6,700
HIGH TECH LENDING INC 5,998
SOUTH RIVER MORTGAGE LLC 5,444
REVERSE MORTGAGE SOLUTIONS INC 5,001
LIVE WELL FINANCIAL INC 4,681
ADVISORS MORTGAGE GROUP LLC 4,471
OPEN MORTGAGE LLC 4,332
NATIONWIDE EQUITIES CORPORATION 4,021
ENNKAR INC. 3,345
ALL REVERSE MORTGAGE INC. 3,316
FINANCE OF AMERICA MORTGAGE LLC 3,092

Final Thoughts on Finance of America Reverse

Finance of America Reverse is one of America’s top reverse mortgage lenders. It consistently ranks as one of the largest originators by volume in the United States, a position that it’s enjoyed since the big banks left the industry a few years back.

Interested in learning more about a reverse mortgage? Click here for more information, absolutely free.