Synergy One Lending Buys Brand, Forward Retail Channel from Mutual of Omaha

San Diego, Calif.-based Synergy One Lending, which formerly included reverse mortgage lender Retirement Funding Solutions (RFS), announced this week the management-led asset purchase (MBO) of the company’s distributed retail channel and the Synergy One brand from Mutual of Omaha Mortgage. Led by Synergy One CEO Steve Majerus and President Aaron Nemec, company leadership expressed significant […]

Forward Footprint Key to Mutual of Omaha’s Future Reverse Mortgage Growth

After acquiring top-10 reverse mortgage lender Retirement Funding Solutions (RFS) in 2018 and a change in ownership structure, Mutual of Omaha Mortgage is gearing up for the long haul in reverse mortgages. In part, it’s doing this through access to its network of 350 forward originators and its national presence. After a period of transition […]

Major Lenders Buck April Endorsement Dive With Big Gains

Home Equity Conversion Mortgage (HECM) endorsements fell by 45% in the month of April 2020, for a total of 1,597 loans according to the latest HECM Originators report from Reverse Market Insight (RMI). The fall was led by the wholesale endorsement segment of business, which experienced a decrease of 47.8% that month, while retail levels […]

Reverse Mortgage Endorsements Surge Nearly 60% in January

Home Equity Conversion Mortgage (HECM) endorsements increased by 59.2% to 3,919 loans for the month of January 2020, the highest level observed since February 2019, a month in which the data was artificially inflated due to the obscuring effects of a partial federal government shutdown that took place early last year. The majority of the […]

Reverse Mortgage Endorsements Fall Again in December

Home Equity Conversion Mortgage (HECM) endorsements dropped by 13.4% to 2,461 loans for the month of December 2019, another decrease along similar lines to the one observed in November with the six of the top 10 lenders recording endorsement decreases. This is according to the December HECM Lenders report compiled by Reverse Market Insight (RMI). […]

RFS Rebrands, Becomes Mutual of Omaha Mortgage

Retirement Funding Solutions (RFS) – a subsidiary of Mutual of Omaha Insurance-owned Synergy One Lending – will be rebranding under a new company name as Mutual of Omaha Mortgage. This rebranding effort reflects its association with its parent company and an effort on Mutual of Omaha’s part to align its reverse mortgage business more closely […]

Top 10 Reverse Mortgage Lenders Reshuffle in 2019

While the reverse mortgage industry has seen its share of change, the top-10 lenders by volume has remained relatively unchanged over the last year. Yet the lender rankings within the top 10 have shifted, to present a top-10 in October 2019 that looks different in some ways from the same tabulation a year earlier. RankCompany […]

Reverse Mortgage Endorsements Get ‘Sugar Rush’ in October

Home Equity Conversion Mortgage (HECM) endorsements rose by 36.2% to 3,296 loans for the month of October 2019, a boon to the activity observed over the last couple of months with all major regions and the majority of the top 10 lenders recording increases in activity. This is according to the October HECM Lenders report […]

Mutual of Omaha Bank Acquired By CIT, Synergy One Remaining Behind

Nebraska-based Mutual of Omaha Bank has announced it will be acquired by Pasadena, Calif.-based CIT Bank in a deal valued at $1 billion, but the merger will not include mortgage arm Synergy One Lending. That business, including the reverse mortgage lending brand Retirement Funding Solutions (RFS), will remain under the Mutual of Omaha Insurance umbrella. […]