If you have been searching for Champion Mortgage and coming up empty, you are not alone. Champion Mortgage was once one of the larger reverse mortgage lenders and servicers in the country. Today, it no longer originates or services reverse mortgage loans. Here is the full story, and what it means if you are an existing borrower or someone looking for reverse mortgage help.
The History of Champion Mortgage
Champion Mortgage operated for many years as a reverse mortgage origination and servicing company under KeyCorp, one of the largest bank-based financial services companies in the country.
In 2007, Nationstar Mortgage acquired the Champion Mortgage platform from KeyCorp. Champion continued to operate under its own brand name as a division of Nationstar, focusing on reverse mortgage originations and servicing.
In 2018, Nationstar merged with WMIH Corp. and rebranded as Mr. Cooper Group. Champion Mortgage became the reverse mortgage arm of Mr. Cooper, one of the nation's largest mortgage servicers.
In 2021, Mr. Cooper announced the sale of its entire reverse mortgage servicing portfolio, operating under the Champion Mortgage brand, to Mortgage Assets Management, LLC (MAM). The sale transferred approximately $16 billion in unpaid principal balance. Champion Mortgage, as most borrowers knew it, effectively ceased operations at that point.
Who Services Champion Mortgage Loans Now?
When Mr. Cooper exited the reverse mortgage business, Mortgage Assets Management, LLC (MAM) took on the full Champion portfolio. Since then, the servicing of these loans has changed hands more than once, passing through companies like Reverse Mortgage Solutions, PHH, Onity, and Finance of America. The takeaway for you is simple: the company that mails your statement today may not be the one you remember, so it is worth confirming who actually holds your loan before you call anyone.
Here are the most reliable ways to find out:
Start with the MERS ServicerID tool. This is the best first step because it reflects current ownership even after a loan has changed hands. The Mortgage Electronic Registration System (MERS) offers a free lookup tool at mers-servicerid.org that can identify your current servicer by property address, borrower name and Social Security number, or your loan’s 18-digit Mortgage Identification Number (MIN). You can also call the MERS helpline at (888) 679-6377. Note that not every reverse mortgage is registered in MERS, so this may not return a result in every case.
Check your most recent loan statement. The servicer’s name and contact information are listed there, though keep in mind the name may have changed since your last statement.
If neither of those gets you an answer, Reverse Mortgage Solutions, Inc. (RMS) is a reasonable starting point for the Champion portfolio. You can reach RMS at (844) 311-2322, and they can help point you to the current servicer for your specific loan.
A Note on Borrower Experiences
Champion Mortgage’s history was not without complications. The New York Attorney General reached a settlement with Champion over concerns about misleading reverse mortgage borrowers.
The companies that took over servicing have faced scrutiny of their own. In 2023, the CFPB took action against Reverse Mortgage Solutions, Inc. (RMS), along with two other reverse mortgage companies, over deceptive advertising practices, including misrepresentations that borrowers could not lose their homes. RMS also carries a notably low public rating, around 1.3 stars on its Google listing, which reflects a pattern of frustration among borrowers over the years.
I share this not to alarm you, but so you know that if you ran into problems, you are not the only one, and you do have recourse. If you experienced issues with your loan during the Champion, Nationstar/Mr. Cooper, or any of the later servicer years, and you believe you were treated unfairly, you can file a complaint. HUD’s Office of Housing Counseling and the Consumer Financial Protection Bureau (CFPB) both accept complaints related to reverse mortgage servicing. You can submit a complaint to the CFPB online at consumerfinance.gov/complaint, and you can reach a HUD-approved housing counselor at (800) 569-4287. These services are free, and a counselor can help you understand your rights and your next steps.
Looking for a Reverse Mortgage Today?
If you landed here because you are searching for reverse mortgage help, not because of an existing Champion Mortgage loan, I want to be upfront: I am not affiliated with Champion Mortgage in any way. My name is Ryan Champion, and I am a Certified Reverse Mortgage Specialist (CREV) and Certified Mortgage Advisor (CMA) based in Durango, Colorado.
I work with homeowners 62 and older across Southwest Colorado and Northern New Mexico who want to understand whether a reverse mortgage makes sense for their situation. That includes:
A traditional HECM reverse mortgage on a home you already own
A HECM for Purchase to buy a new home without a monthly payment
Jumbo reverse mortgage options for higher-value homes
My approach is education-first. I am not here to sell you a loan. I am here to make sure you understand your options so you can make the decision that is right for you and your family. If a reverse mortgage is not the right fit, I will tell you that.
And if you are not in Southwest Colorado, that is not a problem. I work with a team of reverse mortgage specialists licensed in 49 states (all states except New York). No matter where you are located, I can have an initial conversation with you, understand your situation, and connect you with the right team member for your area.
One call to me is all it takes to get pointed in the right direction.
If you have questions, I am happy to talk through your situation at no cost and with no obligation.
Call or text: (970) 403-5677 Visit: championmortgagepros.com
Reverse mortgages are loans that must be repaid. Borrowers must occupy the home as their primary residence and remain current on property taxes, homeowner's insurance, HOA dues (if applicable), and home maintenance. Failure to meet these obligations may result in the loan becoming due or foreclosure. Consult a HUD-approved housing counselor before proceeding.
Ryan Champion | NMLS #2294595 | Barrett Financial Group, L.L.C. | NMLS #181106 | View all licenses on NMLS Consumer Access | Equal Housing Opportunity | Equal Housing Lender | This is not a commitment to lend. All loans are subject to credit approval.