Mutual of Omaha Mortgage, headquartered in San Diego, California, is one of the most prominent reverse mortgage lenders in the United States and has grown into the #1 reverse mortgage lender nationwide. The company operates in 48 states and the District of Columbia, excluding New York and West Virginia.

The reverse mortgage division of Mutual of Omaha Mortgage is the modern successor to Retirement Funding Solutions (RFS), originally founded under Synergy One Lending, and now operates fully under the Mutual of Omaha brand.

Leadership

Mutual of Omaha Mortgage’s leadership includes:

• Alex Pistone, President

• Torrey Larsen, Founder of RFS and current executive leader within the reverse mortgage division

2025 Market Position

Using the most recent national industry data, Mutual of Omaha Mortgage is the top reverse mortgage lender in America:

• 4,397 reverse mortgages originated in 2025

• Down slightly from 4,553 in 2024 (–3%)

• Holds a 21.2% national market share

• Largest production volume comes from California

• Maintains the #1 ranking among all U.S. reverse mortgage lenders

Mutual of Omaha originates more than one in every five reverse mortgages in the country, giving it the largest footprint of any lender in both retail and wholesale channels.

Souce: https://www.rminsight.net/wp-content/uploads/2025/10/Lenders_202509.pdf

Origins: From RFS to Mutual of Omaha Mortgage

The company’s path to becoming the nation’s largest reverse mortgage lender began with Torrey Larsen, who previously led the retail division at Security One Lending. After Security One was acquired by Walter Investment Management in 2013, Larsen launched a new venture in 2015: Retirement Funding Solutions (RFS), under Synergy One Lending.

RFS quickly gained traction:

• Announced operations in January 2015

• Opened a San Diego fulfillment center

• Built out distributed retail, consumer-direct, and TPO channels

• Recruited top reverse mortgage professionals from across the industry

The company’s rapid growth attracted significant industry attention.

In June 2015, RFS hired Alex Pistone, a long-time executive at Reverse Mortgage Solutions (RMS), to serve as President. Together, Larsen and Pistone helped shape RFS into a top 5 reverse mortgage lender by 2018.

During this period, RFS also became closely associated with the Funding Longevity Task Force — an influential academic advisory board designed to improve understanding of reverse mortgages among regulators and financial planners. This initiative eventually helped form the Academy for Home Equity in Financial Planning at the University of Illinois.

Acquisition by Mutual of Omaha

In 2018, Mutual of Omaha Bank announced the acquisition of Synergy One Lending and RFS. The deal was finalized later that year, placing Synergy One and RFS under the Mutual of Omaha corporate umbrella.

Mutual of Omaha praised the cultural fit and strong alignment with its customer-focused philosophy. The move allowed its originators to offer both forward and reverse mortgages with the backing of a trusted national brand.

A year later, Mutual of Omaha Bank was acquired by CIT Bank, but Synergy One and RFS were retained by Mutual of Omaha Insurance Company. This paved the way for a full brand transition.

Rebranding to Mutual of Omaha Mortgage

In late 2019, RFS officially became Mutual of Omaha Mortgage, completing the shift to a unified brand identity. Leadership emphasized that the Mutual of Omaha name — with more than a century of consumer recognition — provided far greater market access and credibility for loan officers and referral partners.

The RFS name was formally retired, and all reverse mortgage operations were consolidated under the Mutual of Omaha Mortgage brand.

Product Offerings

Mutual of Omaha Mortgage offers a full range of reverse mortgage solutions:

HECM (Home Equity Conversion Mortgage)

• Adjustable and fixed-rate options

• Tenure, term, line-of-credit, and lump-sum choices

• HECM for Purchase

• HECM-to-HECM refinancing

Proprietary and Jumbo Reverse Mortgages

Mutual of Omaha also offers jumbo loans for higher-value homes that exceed FHA lending limits. These programs provide expanded loan amounts, broader property eligibility, and additional flexibility for homeowners with substantial equity.

Strategic Strengths

Mutual of Omaha’s success as the #1 lender is supported by:

• One of the industry’s largest retail and consumer-direct sales forces

• A well-known national brand trusted by older homeowners

• Strong marketing infrastructure and high-volume lead flow

• Distribution across retail, wholesale, and TPO channels

• Integration of forward and reverse mortgage offerings under one umbrella

The company continues to emphasize borrower education, advising originators to match product recommendations to each homeowner’s long-term financial needs.

Summary

Mutual of Omaha Mortgage has evolved from the entrepreneurial foundation of Retirement Funding Solutions into the largest reverse mortgage lender in the United States. With near-national licensing, a century-old brand name, a broad distribution network, and consistent top-tier performance, the company plays a central role in shaping the modern reverse mortgage marketplace.

As of 2025, Mutual of Omaha Mortgage originates more reverse mortgages than any other lender in the country and continues to maintain a significant influence through education, product availability, and nationwide service coverage.