After Raising $11 Million, Reverse Mortgage Lender Shuts Down

Golden Gateway, an Oakland, CA based reverse mortgage lender is shutting down after opening its doors in 2007.  Founded by Eric Bachman, the company reportedly went through two rounds of funding with Menlo Ventures, raising a total of $11 million. The company made quite and entrance into the industry when it launched its online calculator, which […]

Golden Gateway Sells Life Settlement Business

PolicyOptions announced the acquisition of the life settlement division of Oakland, CA based Golden Gateway Financial. “We are excited about the opportunity to work with Golden Gateway’s life settlement clients to help them achieve the financial freedom they are seeking through life settlements,” says Rick Johnson, president of PolicyOptions. The company said it was looking […]

Data Shows Older American Home Values Stopped Falling in 4Q

Golden Gateway Financial released new usage data from its online reverse mortgage calculator showing that average home values for older Americans have halted their slide after remaining flat or declining for seven consecutive quarters. The national average self-reported home value of older Americans rose from $369,762 in the third quarter of 2009 to $381,895 in […]

Reverse Mortgage Lender Adds More Credit Union Partnerships

Golden Gateway Financial continues to expand its partnerships with credit unions with the addition of Patelco Credit Union, USA Fed, and Grossmont Schools Federal Credit Union. Each of the credit unions chose Golden Gateway as their exclusive provider of reverse mortgage information, tools and products said a company statement. “Older Americans are still vulnerable to […]

Google TV Ads Help Reverse Mortgage Lender Launch Media Campaign

Inc Magazine published an interesting article about how small businesses are using Google TV Ads to launch low budget advertising campaigns on national cable channels and the satellite service Dish Network. Google TV Ads works just like Adwords, except that instead of bidding on search terms, you bid on airtime.  Advertisers can enter into Google […]

People Researching Reverse Mortgages Jumps Almost 90% Says Data

Results from Golden Gateway Financial’s reverse mortgage calculator showed that falling home values continue to negatively impact the amount of money available to Americans through a reverse mortgage. Despite falling home values, the company also reported a increase of nearly 90 percent in the number of individuals researching reverse mortgages compared to the previous quarter […]

Seniors Considering Larger Up Front Payments From Reverse Mortgages

Golden Gateway released new usage data from its online reverse mortgage calculator that showed seniors are increasingly considering larger up front payments as opposed to more substantial monthly payments. Data from the second quarter of 2009 shows similar numbers in terms of the types of individuals researching reverse mortgages. Average age of users, the percentage […]