While we are humbled to be recognized by our peers as a leading reverse mortgage provider, we understand that this market position comes with increased responsibility.
Atlanta (Vocus) December 23, 2010
Generation Mortgage Company, the largest privately owned reverse mortgage company for retail and wholesale products in the United States, today announced that it has been ranked among the top five U.S. retail reverse mortgage providers for the first time, according to a November 2010 report from Reverse Market Insight (RMI). Named as the only privately owned company among the top-volume lenders, Generation Mortgage reaffirmed its presence in both the retail and wholesale markets as it also ranks fourth in the nation as a provider of reverse mortgages to the wholesale markets.
“As the reverse mortgage industry has continued to grow, Generation Mortgage has been fortunate enough to increase its market share by more than 100% over the last two years,” said Scott Peters, President and CEO of Generation Mortgage Company. “While we are humbled to be recognized by our peers as a leading reverse mortgage provider, we understand that this market position comes with increased responsibility. As a reverse mortgage company for seniors, we will continue to work with them to provide tailored solutions and outstanding customer service to better meet their evolving retirement needs.”
According to the company, its uptick in retail loan originations stem from its unique commitment to customer service. Seniors have come to recognize the Generation Mortgage brand as one that stands for honesty, trust and care. This coupled with technology innovation and refined process management procedures have helped the company to identify areas of growth in an often niche market.
Previously ranked number six in retail by RMI, this is the first time that Generation Mortgage has cracked the top five on the retail reverse mortgage company list -- which spotlights the nation’s top reverse mortgage HECM (Home Equity Conversion Mortgage) loan providers based on volume.
About Generation Mortgage®
Generation Mortgage Company is the largest privately owned reverse mortgage retailer and wholesaler in the United States, a member of NRMLA (National Reverse Mortgage Lenders Association) and is Better Business Bureau A+ accredited. With its sole focus on reverse mortgages, Generation Mortgage is known in the industry as offering the “gold standard” in customer service, providing loan servicing for nearly all of its retail and wholesale reverse mortgage loans. Licensed in 47 states, Washington, DC and Puerto Rico, Generation Mortgage offers FHA-insured HECM (Home Equity Conversion Mortgage) loans, including fixed and adjustable rates, HECM for Purchase and Generation Mortgage’s new proprietary jumbo Generation Plus® reverse mortgage loan. Generation Mortgage benefits from the strategic and financial support of its controlling shareholder, Guggenheim Partners, LLC, a renowned financial services firm with more than $100 billion in assets under supervision.
NMLS #1319; Corporate Office: 3 Piedmont Ctr, 3565 Piedmont Rd NE, Ste 300, Atlanta, GA 30305; Arizona Mortgage Banker License #0909296, 6740 E. Camelback Rd, Ste 104, Scottsdale, AZ 85251; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; Colorado, To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm; In CT, licensed and DBA as Generation Reverse Mortgage, Inc.; Georgia Residential Mortgage Licensee #22292, Generation Mortgage Company, 3 Piedmont Ctr, 3565 Piedmont Road NE, Ste 300, Atlanta, GA 30305; Illinois Residential Mortgage Licensee #MB.6760368; Kansas Licensed Mortgage Company #MC.0001660; Massachusetts Mortgage Lender-ML3240; Licensed by the Mississippi Department of Banking & Consumer Finance; Missouri Residential Mortgage Loan Broker #10-1782-A, 7280 NW 87th Terrace, Ste 210, Kansas City, MO 64153; Nevada #2970, 907 Tahoe Blvd, Ste 2, Incline Village, NV 89451, Phone # 775-831-0161; Licensed by the New Hampshire Banking Department as Generation Mortgage Company d/b/a Generation Mortgage Company, Inc; Licensed by the N.J. Department of Banking and Insurance, 51 JFK Parkway, Ste 114, First Floor West, Short Hills, NJ 07078, Phone #973-218-2418; Licensed Mortgage Banker- NYS Banking Department; Oregon License #ML-4445, Licensed by the Pennsylvania Department of Banking; Rhode Island Licensed Lender; Licensed by the Virginia State Corporation Commission #MC-4832; Washington #CL-1319; Also conducts business in AL, AR, DC, DE, FL, HI, IA, ID, IN, KY, LA, MD, ME, MI, MN, MT, NC, ND, NE, NM, OH, OK, PR, SC, SD, TN, TX, UT, VT, WI, WV, WY. Not all products and options are available in all states. Terms subject to change without notice. Some people portrayed are professional models. ©2010 Generation Mortgage Company. All Rights Reserved.