Lincoln Appraisal & Settlement Services announced it has been selected by Generation Mortgage as one of its appraisal management companies for its wholesale reverse mortgage business.
“Generation Mortgage Company’s commitment to their clients echoes our beliefs and values,” said George Panichas, Chairman & CEO of Lincoln Appraisal & Settlement Services. “I have no doubts that this partnership will be both long and prosperous for all. Our company is very excited to be providing appraisal management services to such an outstanding reverse mortgage wholesale mortgage lender.“
Lincoln Appraisal & Settlement Services, is a national Appraisal Management (AMC) & Settlement Services Company founded in 1998.
Wholesale reverse mortgage lenders began requiring the use of AMC’s earlier this week as part of the Federal Housing Administration’s new guidelines to ensure appraiser independence.
Update: We had initially written that Lincoln was the exclusive AMC for Generation which was incorrect. The company has 5 approved AMCs that offer National service and one that offers only regional said Sherry Apanay, Senior VP of Generation in an email to RMD.