Finance of America Reverse LLC Mortgage Lending & HMDA Data, 2020
In 2020, Finance of America Reverse LLC of Tulsa, OK reported 12,330 mortgage applications totaling $3.6 billion, up 32% from 2019. The average application was for $289,339, and applicants reported an average income of $33,663. 71% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Los Angeles-Long Beach-Glendale, CA (1,335), New York-Jersey City-White Plains, NY-NJ (540) and Riverside-San Bernardino-Ontario, CA (495) (applications in parentheses).
| Mortgage Company & Address | Finance of America Reverse LLC 8023 East 63rd Place, Suite 700 Tulsa, OK 74133 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 |
| Total Number of Mortgage Applications | 12,330 |
| Total Mortgage Loan Application Amount | $3,567,550,000 |
| Average Mortgage Loan Application Amount | $289,339 |
| Highest Mortgage Loan Application Amount | $6,005,000 |
| Average Applicant Income | $33,663 |
| Highest Applicant Income | $1,179,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Finance of America Reverse LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for Finance of America Reverse LLC in 2020
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 10,417 | $3,207,525,000 | $307,000 | $6,005,000 | $34,000 | $1,179,000 |
| Other Purpose | 932 | $136,650,000 | $146,000 | $3,565,000 | $29,000 | $375,000 |
| Home Purchase | 738 | $162,160,000 | $219,000 | $1,265,000 | $37,000 | $329,000 |
| Home Improvement | 243 | $61,215,000 | $251,000 | $2,775,000 | $27,000 | $97,000 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 7,933 | $2,224,355,000 | $280,000 | $6,005,000 | $35,000 | $1,179,000 |
| Not applicable | 1,363 | $483,665,000 | $354,000 | $4,005,000 | $0 | $0 |
| Not Provided | 1,251 | $359,805,000 | $287,000 | $2,345,000 | $34,000 | $806,000 |
| Black or African American | 856 | $234,640,000 | $274,000 | $1,615,000 | $32,000 | $380,000 |
| Hispanic | 615 | $152,755,000 | $248,000 | $1,285,000 | $31,000 | $152,000 |
| Asian | 213 | $85,265,000 | $400,000 | $2,605,000 | $35,000 | $351,000 |
| American Indian or Alaskan Native | 50 | $10,200,000 | $204,000 | $1,005,000 | $27,000 | $65,000 |
| Native Hawaiian or Other Pacific Islander | 27 | $8,085,000 | $299,000 | $585,000 | $30,000 | $61,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| FHA-insured (Federal Housing Administration) | 9,894 | $1,883,840,000 | $190,000 | $575,000 | $32,000 | $806,000 |
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 2,436 | $1,683,710,000 | $691,000 | $6,005,000 | $43,000 | $1,179,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 8,741 | $2,349,485,000 | $268,000 | $6,005,000 | $34,000 | $806,000 |
| Application Withdrawn By Applicant | 1,906 | $640,190,000 | $335,000 | $4,005,000 | $34,000 | $357,000 |
| Loan Purchased By The Institution | 1,109 | $393,475,000 | $354,000 | $3,285,000 | $0 | $0 |
| Application Denied By Financial Institution | 392 | $136,160,000 | $347,000 | $3,565,000 | $36,000 | $1,179,000 |
| Application Approved But Not Accepted | 110 | $32,900,000 | $299,000 | $2,255,000 | $39,000 | $470,000 |
| File Closed For Incompleteness | 72 | $15,340,000 | $213,000 | $1,115,000 | $34,000 | $184,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 11,938 | $3,431,390,000 | $287,000 | $6,005,000 | $34,000 | $806,000 |
| Other | 275 | $98,465,000 | $358,000 | $3,245,000 | $30,000 | $208,000 |
| Collateral | 100 | $25,810,000 | $258,000 | $1,675,000 | $37,000 | $179,000 |
| Unverifiable Information | 11 | $9,885,000 | $898,000 | $3,565,000 | $146,000 | $1,179,000 |
| Debt-To-Income Ratio | 4 | $1,130,000 | $282,000 | $385,000 | $30,000 | $58,000 |
| Credit Application Incomplete | 1 | $145,000 | $145,000 | $145,000 | $73,000 | $73,000 |
| Credit History | 1 | $725,000 | $725,000 | $725,000 | $23,000 | $23,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Finance of America Reverse LLC's 2020 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Finance of America Reverse LLC's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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