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.

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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 35369726
2015-02-01 122 31424294
2015-03-01 127 30350100
2015-04-01 147 38121000
2015-05-01 106 28700675
2015-06-01 113 26824600
2015-07-01 177 47652528
2015-08-01 138 37838300
2015-09-01 98 25203746
2015-10-01 139 40573000
2015-11-01 116 30360000
2015-12-01 130 36942665
2016-01-01 117 34942700
2016-02-01 144 37599808
2016-03-01 120 34573381
2016-04-01 107 30121017
2016-05-01 126 36022078
2016-06-01 106 30472694
2016-07-01 99 31765516
2016-08-01 211 59198034
2016-09-01 147 40852504
2016-10-01 152 43789800
2016-11-01 197 55671000
2016-12-01 154 45733553
2017-01-01 141 38111448
2017-02-01 79 22755000
2017-03-01 187 53465440
2017-04-01 199 57873233
2017-05-01 119 37617629
2017-06-01 189 58517485
2017-07-01 168 47595068
2017-08-01 208 56718004
2017-09-01 158 45146100
2017-10-01 209 61177715
2017-11-01 181 54322500
2017-12-01 159 45565400
2018-01-01 167 53455250
2018-02-01 162 45865447
2018-03-01 129 39185400
2018-04-01 117 37143350
2018-05-01 122 35162350
2018-06-01 130 38229750
2018-07-01 130 37167000
2018-08-01 137 42536650
2018-09-01 120 34019050
2018-10-01 103 33404320
2018-11-01 101 27464750
2018-12-01 64 18899000
2019-01-01 16 4419950
2019-02-01 187 51796225
2019-03-01 64 21128675

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

Lender Loans
AMERICAN ADVISORS GROUP 42090
ONE REVERSE MORTGAGE LLC 14928
REVERSE MORTGAGE FUNDING LLC 7735
FINANCE OF AMERICA REVERSE LLC 6977
LIBERTY HOME EQUITY SOLUTIONS INC 6826
SYNERGY ONE LENDING INC. 5281
REVERSE MORTGAGE SOLUTIONS INC 5001
LIVE WELL FINANCIAL INC 4590
HIGH TECH LENDING INC 3431
NATIONWIDE EQUITIES CORPORATION 3211

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.