Finance of America Reverse Review


Rating: 8 / 10 (Very good)
12 Customer Comments & Reviews - see all comments
Disclosure: We receive advertising revenue from this partner. 
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Finance of America Reverse is a direct lender focused solely on reverse mortgages. Founded in 2003, FAR operates in 43 states and is based in Oklahoma. This company offers a proprietary reverse mortgage plan which doesn't require FHA approval, as well as standard single-purpose and veteran variants, which are backed by the FHA and VA.

How is Finance of America Reverse rated?

Breakdown

8/10
Lender Details
8/10
Loans
8/10
Consumer Experience

Overall Rating: 8 / 10 (Very good)

Finance of America Reverse is the reverse mortgage arm of Finance of America, and, in turn part of The Blackstone Group. They've been part of the premier mortgage lenders in the United States since 2003, and have generally good reviews. However, their online experience leaves something to be desired, especially in comparison with the amount of resources that other, comparably-sized lenders provide.

Lender Details

Lender Type
Lender
2016 HECM Loan Value
$243,131,078
Nationwide Mortgage Licensing System ID
2285
Nationwide Mortgage Regulatory Actions
2

Lender Details - 8 / 10

While they're not the lender with the most reverse mortgage originations on our list, Finance of America Reverse has remarkably few regulatory actions against them, especially as relates to comparable lenders. Besides being an Equal Housing Lender, they're also members of National Aging in Place Council.

Finance of America Reverse Loans

Loan Types
HECM Traditional
Proprietary Reverse Mortgage
Payout Options
Lump Sum Payment
Monthly Payments

Loans - 8 / 10

Finance of America Reverse traditional HECM loans and jumbo reverse mortgages, for homes whose appraisal value surpasses federal limits. Borrowers can choose to obtain their money through monthly payments, or as a single lump sum. However, the company does not offer reverse mortgages in seven states.

Finance of America Reverse Consumer Experience

Total Consumer Financial Protection Bureau Complaints
42
Site Features & Mobile App
Home Equity Calculator
BBB Rating
A+
Trust Pilot Rating
9.3 out of 10
Date Collected
2017-08-17

Consumer Experience - 8 / 10

Finance of America Reverse has good ratings across many different consumer review websites, with customers reporting high levels of satisfaction. However, their site doesn't offer the same level of interactive tools and resources as comparable lenders, only allowing access to a home equity calculator.

Contact & Additional Info

Homepage URL
Company Phone
(855) 421-4745
Headquarters Address
8023 East 63rd Place, Suite 700, Tulsa, OK, 74133
Mailing Address
8023 East 63rd Place, Suite 700, Tulsa, OK, 74133
Year Founded
2003

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12 Customer Comments & Reviews

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E
Edwin T
Chicago, Illinois
6/8/2018
I would like to thank Miranda Dorsey, Nicole Blane , and their associates for their prompt and thorough assistance in processing my reverse mortgage. I have a question. I have an escrow account set up to pay my property taxes and insurance. I have a Village of Horseheads Property Tax Statement of $522.62 which is due for payment by 7/2/2018. Where do I send that billing for payment? Thank you.

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Edwin, We appreciate your business and glad that Miranda and Nicole were helpful during the process. Someone from our team will be in touch with you to answer your questions. Thank you, FAR

S
Sandra B
Dallas, Texas
6/6/2018
I was very pleased with Robert Commerford and the service he provided. He called me with any information he thought I might want to know. He kept me up to date, called me about every other day or so. I called him with questions and he never minded all the calls. It took longer than I thought it would but I had some problems with my roof along the way. All and all it went pretty smooth and I received my money. Thanks Robert, for all your help and helping me achieve my goal.

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Sandra, We work hard to find the best people to provide a great experience for our customers and glad to hear that Robert helped you understand the process and the process went smoothly. We appreciate you choosing to work with Finance of America Reverse and feel free to contact us with questions anytime. FAR

L
Larry S
San Jose, California
5/12/2018
Your organization gave us the most information of all the Companies we contacted. Good job.

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Larry, We are pleased to hear that we were able to give you all the information. We work hard to find the best people to provide a great experience for our customers. Feel free to contact us with additional questions. Thank you, FAR

A
Alfred l
Phoenix, Arizona
5/11/2018
I was the go between in obtaining a reverse mortgage for my elderly mother for some repairs on her home.the person that helped us was katie may. She was excellent; she kept me informed of the process and was very kind and made us feel like she really had our best interest at heart. Thank you for helping my mother.

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Alfred, That is great that you and your mother see the value a reverse mortgage could possibly provide to people in retirement. We work hard to find the best people to provide a great experience for our customers. We are pleased to hear that Katie was able to help guide you through the process. We appreciate you and your mother choosing to work with Finance of America Reverse and for your feedback. Feel free to contact us with additional questions. FAR

A
Armenta S
Denver, Colorado
5/8/2018
I was pleasantly surprised at how easy the process was. A little put off by the almost microscopic look at my finances, however, the agent I worked with (Toby Beers) was great. Very considerate and helpful. Altogether a good experience.

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Armenta, We are happy that you chose to work with Finance of America Reverse and that everything went as smoothly as possible during the process. Reverse mortgages have many regulations in place to make sure that all parties (including the borrower) are protected, which is why we request information. Pleased to hear that Toby gave you such excellent customer service. Feel free to contact us with additional questions anytime. Thank you, FAR

J
Jim W
Dallas, Texas
5/6/2018
FAR put extra effort into understanding our situation and overcoming barriers to our reverse mortgage refinance.

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Jim, We work hard to find the best people to provide a great experience for our customers. We are happy to hear that you are satisfied with your reverse mortgage from Finance of America Reverse and appreciate your business and feedback. Thank you, FAR

B
Barbara P
Miami, Florida
4/18/2018
We had a very positive experience in acquiring a reverse mortgage from Finance of America. Our loan officer was extremely informative and made the process relatively easy. We would definitely recommend Finance of America Reverse.

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Barbara, We work hard to find the best people to provide a great experience for our customers. We are pleased to hear that we were able to give you all the information and that you think so highly of your loan officer. We appreciate the opportunity to help guide you through the process and value your feedback. Thank you, FAR

P
Patricia F
Four Oaks, North Carolina
4/7/2018
Everyone was very helpful and curtious. And they did everything they said they would do. We would recommend Finance America to anyone we know .

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Patricia, We appreciate the opportunity to help guide you through the process and happy to hear that you are satisfied with your reverse mortgage from Finance of America Reverse. Thank you for working with Finance of America Reverse and for your valuable feedback. FAR

C
Carolyn S
DeSoto, Texas
4/6/2018
Thanks to everyone who made this reverse mortgage a success. A special thanks to my agent, Ellen Zawaski, who was very professional and caring. She stepped in all the way, never ceasing to answer all my questions and going over and beyond. Again, thanks to all at Finance of America.

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Carolyn, We appreciate your choosing to work with Finance of America Reverse and glad that you had a great experience with Ellen. We work hard to provide a excellent customer service. Thank you for your feedback. FAR

M
Marcy K
Butler, Pennsylvania
4/6/2018
The Reverse Mortgage application through to the conclusion was very complete and handled excellently by Amy Cecil. I appreciated her attention to detail and friendly attitude. I am sure we'll stay in touch.

Javiera M  
Official Response

Digital Marketing Manager of Finance of America Reverse
Marcy, We appreciate the opportunity to help guide you through the process and glad to hear that Amy was able to help you understand all of the details of a reverse mortgage. Feel free to contact us with additional questions anytime. Thank you for your business and feedback. FAR


Our Partner
8.0 / 10
  • Equal Housing Lender
  • NRMLA Member
  • Member of National Aging in Place Council
  • Borrow up to $4 Million with HomeSafe Reverse Mortgage
  • HomeSafe offers no initial disbursement limitation or mortgage insurance premium if qualified
  • Competitive fixed interest rate and lump-sum draw