Generation Breaks Into the Top Five Reverse Mortgage Lenders

NewImage.jpgGeneration Mortgage Company announced it’s now ranked among the top five retail reverse mortgage lenders for the first time according to data from Reverse Market Insight.

Named as the only privately owned company among the top-volume lenders, the company said it has 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 company, we will continue to work with seniors to provide them with tailored solutions and outstanding customer service to better meet their evolving retirement needs.”

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According to RMI, the company’s wholesale and retail business are up up 12.1% and 1.8% respectively.

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  • Congrats to generation Mortgage if they have increased production and market share. Just wondering how the “100% increase in production” is substantiated. A review of the volume figures over the last couple years doesn’t support that assertion. Still, in the current economic environment, a number 5 ranking is an achievement whether it comes from increased production or increased market share due to falling production numbers elsewhere.

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