AAG vs Mutual of Omaha

AAG is a consumer-facing marketing brand of Finance of America Reverse LLC, not a separate underwriter, while Mutual of Omaha Reverse is a distinct lender operating under the Mutual of Omaha Insurance Company brand. On a HECM the two are the same federal loan on every term that matters legally (HUD Handbook 4000.1); the real product differences sit in their privately designed jumbo programs.

AAG and Mutual of Omaha Reverse are both names a reverse mortgage shopper encounters. They are not parallel entities, and the first thing to be clear about is what AAG is now. Finance of America Companies Inc., the parent of Finance of America Reverse LLC (FAR), bought a substantial majority of AAG's assets, and FAR bought AAG's servicing rights and loans, in a deal that closed on March 31, 2023 (Finance of America Companies, SEC Form 8-K/A), and aag.com now redirects to Finance of America. SecureEquity is offered by Mutual of Omaha Mortgage, Inc. (NMLS #1025894), whose reverse-mortgage site is mutualreverse.com (Mutual of Omaha Mortgage, SecureEquity page). This page compares them as lenders, on the structure of what they offer rather than on rates, which are quoted per borrower. The two are listed alphabetically; this is informational, not a ranking, and neither lender is named as "better."

Last reviewed 2026-10-09

What can you fairly compare between AAG and Mutual of Omaha?

Two things constrain a fair comparison here. First, the HECM is a federal product: its core terms, the 62-year age floor, the lending limit of $1,249,125 for 2026 case numbers, the 2% upfront and 0.5% annual MIP, the counseling requirement, and the non-recourse cap, are set by HUD and apply uniformly across every HUD-approved lender (HUD Handbook 4000.1; HUD ML 2025-22). A HECM from either is the same loan on every term that matters legally; lenders differ on margin, origination fee within the HUD cap, and service. Second, Finance of America Companies Inc., FAR's parent, bought a substantial majority of AAG's assets in 2023, and FAR bought AAG's servicing rights and loans (Finance of America Companies, SEC Form 8-K/A), as the AAG program card details. The jumbo programs are where genuine product differences sit, because jumbo is privately designed.

How do AAG and Mutual of Omaha compare side by side?

| Parameter | AAG (Finance of America Reverse) | Mutual of Omaha Reverse | |---|---|---| | Entity behind the brand | Finance of America Reverse LLC (FAR) | Mutual of Omaha Mortgage, Inc., NMLS #1025894 (Mutual of Omaha Mortgage, SecureEquity page) | | HECM offered | Yes; standard FHA-insured HECM on federal terms (HUD Handbook 4000.1) | Yes; standard FHA-insured HECM on federal terms (HUD Handbook 4000.1) | | Proprietary jumbo program | HomeSafe, issued by FAR (Finance of America, HomeSafe product page) | SecureEquity (Mutual of Omaha, SecureEquity product page) | | Jumbo payout options | Lump sum, monthly payouts, line of credit, or a mix of all three (Finance of America, HomeSafe product page) | Lump sum or line of credit (Mutual of Omaha, SecureEquity product page) | | Corporate parent | Finance of America Companies | Mutual of Omaha Insurance Company | | Non-recourse on jumbo | Finance of America says the borrower or heirs won't owe more than the home's value when the loan becomes due and the home is sold (HomeSafe product page) | Not stated on Mutual of Omaha's product page |

Where do AAG and Mutual of Omaha differ?

For a HECM borrower the difference is not in the loan's legal terms, which are federal and identical, but in margin, in the origination fee within the HUD cap, and in service. A borrower shopping a HECM should request quotes from both, and from other HUD-approved lenders, against the same age and home value, and compare the margin and fees. Note that an AAG-branded quote is a FAR quote; the disclosures signed are FAR disclosures.

For a jumbo borrower the difference is the program. HomeSafe can pay a lump sum, monthly payouts, a line of credit, or a mix of all three, and Finance of America lists its age exceptions by state: 60 in Massachusetts, New York, and Washington, and 62 in North Carolina and Texas (Finance of America). SecureEquity pays a lump sum or a line of credit, and Mutual of Omaha's SecureEquity rate sheet, effective September 9, 2026, leaves Massachusetts and New York off its approved-state list (Mutual of Omaha). The two jumbo programs are compared head to head in the HomeSafe vs SecureEquity page.

What do AAG and Mutual of Omaha have in common?

Both originate the HECM on identical federal terms. Both run a proprietary jumbo program that offers a lump sum or a line of credit (Finance of America; Mutual of Omaha). For a borrower whose home is at or below the HECM lending limit, the choice is a margin-and-service question, not a question of the loan's legal structure.

How do you choose between AAG and Mutual of Omaha?

The row order is not a ranking. For a HECM, compare margin and fees across both lenders and others. For a jumbo loan, the HomeSafe vs SecureEquity page carries the parameter detail. The HECM vs jumbo guide covers which screen to start from, and the reverse mortgage calculator models the HECM side.

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