Cushman bring more than five years as a Federal Housing Administration risk management official, and is credited in large part by the reverse mortgage industry for his work in FHA’s launch of the HECM Saver in late 2010.

He served as FHA’s Director of Portfolio Analysis where he was responsible for developing valuation models to support product development, premium pricing, risk management, and operations. He also helped shape policy guidance on the HECM program, and co-authored the paper titled, “Identification of Home Maintenance Risk in Reverse Mortgages.” In addition to his role at FHA, Cushman also has experience in business and consulting.

“Colin brings to the Generation Mortgage team a deep understanding of the reverse mortgage industry and the federal oversight of our products and services. His leadership and vision at FHA, including the development of the innovative Saver product, will be invaluable to our company as we continue to provide unparalleled products and services to our customers across the country,” Jeff Lewis, CEO of Generation Mortgage said. “We are pleased to welcome him to Generation Mortgage.”

Cushman has received a National Reverse Mortgage Lenders Association distinguished service award, as well as a David L. Boren international graduate fellowship and Howard Hughes fellowship.

Written by Elizabeth Ecker

The launch of a new office, located in Madison, Wisconsin, will expand the lender’s presence from its Atlanta-based headquarters and additional branches nationwide.

“Our Wisconsin office will help to solidify Generation Mortgage’s status as a national market leader in the reverse mortgage industry, supporting our top-five lender rank,” said Kimberly Kerrigan Smith, Generation executive vice president in a press release. “We’re looking forward to better serving seniors seeking financial independence and looking to stay in their homes longer by expanding our retail outreach in the nation’s Midwest region.”

Generation’s Steve Kalscheur, who has been with the company since 2009, will lead the new branch.

“Reverse mortgages are sound financial tools for seniors looking to stay in their homes and meet their financial needs,” he said. “I’m eager to put my experience and background to work for our customers and to help them learn the benefits a reverse mortgage can provide for them.”

The expansion comes following a new TV ad campaign launched by Generation last week and currently being tested in four markets nationally. The company remains the fourth-largest reverse mortgage lender in terms of current volume, having closed 6,276 loans in the 12 months ended February 29, based on the most recent data from Reverse Market Insight.

Written by Elizabeth Ecker

Resch brings 30 years of experience including 10 years in the reverse mortgage industry, Wall Street banking analysis and work in other financial services capacities. In the reverse mortgage space, he most recently worked for Financial Freedom Senior Funding as a relationship manager, developing correspondent and broker partnerships in the New England/New York area.

“We’re pleased that Steve Resch will be joining our wholesale team,” said Kimberly Kerrigan Smith, executive vice president, sales. “He brings to Generation Mortgage more than three decades of financial services and planning expertise and nearly ten years of experience in the reverse mortgage industry. Steve’s record of success and professionalism will be an asset to our ever-expanding wholesale division.”

Generation recently announced the hire of a new chief financial officer, Carl Rojas, after its former CFO was hired by Urban Financial Group.

The company is ranked No. 3 for industry wholesale volume according to the most recent data from Reverse Market Insight, closing 4,767 wholesale loans over the past 12 months. On the retail side, Generation was ranked seventh, with 1,484 loans over the same time period.

Written by Elizabeth Ecker

Carl Rojas, formerly serving as a consultant for Generation and then as Corporate Comptroller, now holds the position of company CFO and is planning to grow the business in 2012.

“There are many successful models in this business,” Rojas told RMD. “We are relatively young—that’s exciting. I get to be a part of a real, significant moment for this company. We have been an HMBS issuer for less than three years.”

Rojas, who has worked previously in CFO positions and who is trained in financial accounting, says he sees a strong position for reverse mortgages in 2012.

“We have established a goal that by end of year we can own 20% of the [reverse mortgage] space,” he says. “I think that’s reachable. We are at 12-13% now with combined retail and wholesale. I’m very bullish on this. It’s not without its challenges, but there’s a great opportunity here. The product is relevant, needed and a sound financial decision.”

Generation, which ranks the No. 4 lender over the past 12 months, according to data from Reverse Market Insight, closed more than 6,200 reverse mortgages during that time frame.

“Unlike some of our competitors, we only do one thing. And we do it better than anyone else—because it’s all we do. I think this is going to be the biggest year ever for us.”

Written by Elizabeth Ecker

“Making the transition from our own technology to working with Mortgage Cadence will allow us to focus on our business processes and strategies,” said Mark Sohl, Chief Operating Officer from Generation Mortgage, in a statement. “The ability to leverage Mortgage Cadence will enable us to focus our time and energy on continuing to provide the superior customer service in which we pride ourselves.”

By upgrading to this product suite, top-ten reverse mortgage lender Generation now has “complete and comprehensive system integration” that promises “greater efficiency and scalability in multiple business channels under the umbrella of a single solution,” according to Mortgage Cadence.

Mortgage Cadence touts its technology as enabling lenders to streamline processes and refocus attention on growing their business and increasing overall profitability.

Written by Alyssa Gerace

Generation says the expansion will help retail outreach in the nation’s third most populous state. Led by Ed O’Connor, the company’s eastern regional manager, the New York operation looks to secure Generation as a top-5 reverse mortgage lender.

“With more than 20 years’ experience in the financial services industry, and former President of Advanced Funding Solutions Inc., a reverse mortgage broker based out of New York, I’m very excited to come on board with this industry leader,” said O’Connor.

The office currently employs five loan officers and additional staff with plans to expand. Generation is currently hiring experienced loan officers for the New York office, within the Tri-State area and throughout the entire country, O’Connor told RMD.

“The timing has turned out to be very good because of [large bank exits],” he says. “We didn’t know those things were going to happen, but the timing is good. The industry needs some stability.”

Written by Elizabeth Ecker

Prior to joining Generation, Anderson worked as an Account Manager for both Premier and E*Trade Financial. With five years of experience in the reverse mortgage industry, Generation calls her a “proven performer” at partnering with her clients to grow their businesses.

“I’m looking forward to working with the Generation Mortgage team, known for their superior customer service, to help build their business and share industry expertise with our partners,” says Anderson.

Anderson, a California native, graduated witha degree in Business Administration from California State University, Fullerton.

Written by Alyssa Gerace

The national retail division will have two retail leaders: one will be in California, and the other in New York. Generation has hired Ed O’Connor as East Coast regional manager, where he will recruit and manage all loan officers in the eastern half of the country. Ed is former president of New York-based Advanced Funding Solutions.

Additionally, Kevin Kaltenbach will serve as O’Connor’s West Coast counterpart. Kaltenbach has as history of leadership within Generation in its California national retail division team.

Before it can do new business in New York, Generation is awaiting the official approval of its branch there, which it expects to obtain very soon.

The Atlanta-based lender closed 1,414 reverse mortgage loans in 2010.

Written by Elizabeth Ecker