Moody’s issued its annual commentary on Finance of America Reverse, assigning the Tulsa, Okla.-based lender the middle of its five ratings.
FAR received an “average” rating for its jumbo reverse mortgage offerings, based on a variety of criteria. For instance, FAR earned “above average” marks for property valuation, based on the company’s two required appraisals for homes above $1.25 million; Moody’s also bestowed an “above average” rating on FAR’s loan origination technology.
“Moody’s has completed its annual review of our business and we are pleased to be recognized for strength in a number of categories including property valuation, technology, and credit risk management,” FAR president Kristen Sieffert said in a statement e-mailed to RMD.
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