Generation Mortgage Continues Steady Growth Of Its Wholesale Business

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Generation Mortgage just announced that its wholesale division has consistently posted an approximate 20% month-to-month production gain throughout the past year, despite recent economic upheaval in the mortgage industry.  “We anticipate continued, measured growth as we strategically align ourselves with the best in our industry,” explained Sherry Apanay, Senior Vice President of Generation’s Wholesale Division.

Generation credits its success to the high level of customer service it’s able to provide its clients throughout the life of the loan. The company is one of the few wholesale lenders in today’s market that has taken on the task of servicing their loans in house. “Because we handle the servicing in house, we’re able to provide the same high level of personal service throughout the life of the loan,” continued Apanay.

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The Atlanta, Georgia based company is the 9th largest wholesale lender according to data provided by Reverse Market Insight’s ReverseIQ Newsletter.  The majority of Generation’s business is originated through its wholesale channel, which Apanay said represents about 75% of its total production.

The company also recently added Kimberly Kerrigan, the former VP of One Mortgage Network to expand its wholesale business out west.

Generation Mortgage

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  • Until HUD/FHA allows HECM loans regardless of the FHA appraised value, when are the “smart” people of the
    Banking, Mortgage, Insurance Industries going to figure
    out how with private insurance to provide Jumbo loans
    again? I’m curious if the really knowledgeable people
    in the Reverse Mortgage Industry know what the loss/profit ratio is on Jumbo loans historically? I suspect our current Wall Street/Banking/Insurance problems have caused a liquidity catastrophe which could have adversely affected private reverse mortgage jumbo loans, but I curious if it is due to losses as well?

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