New Study: Generation Mortgage Among Top-Ranked Reverse Mortgage Providers In The Country

ATLANTA, April 20 /PRNewswire/ -- Generation Mortgage Company™, the largest privately owned reverse mortgage retailer and wholesaler in the United States, continues to maintain its prominence as the highest-ranked privately owned reverse mortgage lender in the nation, according to a March 2010 report from Reverse Market Insight, the premier provider of market intelligence and strategic advisory solutions for the reverse mortgage industry.

"High standards of service and a commitment to putting the needs of the senior homeowner first are the reasons Generation Mortgage continues to be one of the top reverse mortgage companies in the country," said Scott Peters, President and CEO, Generation Mortgage.

According to Reverse Market Insight's March report, Generation Mortgage ranks sixth in the nation as a provider of reverse mortgage HECM (Home Equity Conversion Mortgage) loans and had nearly a 50 percent increase in its retail market share for the first quarter of 2010 compared with first quarter 2009.

"Senior homeowners are looking for more ways to increase their nest egg, and they want a company they can trust to maximize the outcome of a reverse mortgage," said Sherry B. Apanay, Executive Vice President, Sales, Generation Mortgage. "Generation Mortgage's increased retail market share is a result of our singular focus on the reverse mortgage business and the financial concerns of our senior market."

Just recently, Generation Mortgage announced a new zero origination fee, zero servicing fee option for FHA-insured HECM fixed-rate products, allowing qualified borrowers age 62 and older to receive additional, up-front loan proceeds of up to $10,000, depending on the equity in their home.

About Generation Mortgage

Generation Mortgage Company is the largest privately owned reverse mortgage retailer and wholesaler in the United States, and a member of NRMLA (National Reverse Mortgage Lenders Association) and Better Business Bureau A+ accredited. With its sole focus on reverse mortgages, Generation Mortgage Company™ offers clients "A New Generation in Reverse Mortgages™" and pledges to deliver outstanding customer service, as exemplified by its Loan Servicing - Generation services all its reverse mortgage loans and does not outsource them.  Generation benefits from the financial and logistical support of its controlling shareholder, Guggenheim Partners, LLC, a renowned financial services firm with more than $100 billion in assets under supervision.

For more information, visit www.generationmortgage.com or call toll free 1.800.662.1962.

Equal Housing Lender. NMLS #1319; Arizona Mortgage Banker License #0909296; Georgia Residential Mortgage Licensee #22292; 3 Piedmont Ctr, 3565 Piedmont Road NE, Ste 300, Atlanta, GA 30305; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; In CT, licensed and DBA as Generation Reverse Mortgage, Inc.; Illinois Residential Mortgage Licensee # MB.6760368; Kansas Licensed Mortgage Company License #MC.0001660; Massachusetts Mortgage Lender-ML3240; ME License #SLM9169; Licensed by the Mississippi Department of Banking & Consumer Finance; Licensed by the New Hampshire Banking Department as Generation Mortgage Company d/b/a Generation Mortgage Company, Inc; Licensed at 51 JFK Parkway, Suite 114, First Floor West, Short Hills, NJ 07078, Phone # 973-218-2418 by the New Jersey Department of Banking and Insurance; NV – 800 N Rainbow BLVD, Ste 170, Room 164, Las Vegas, NV 89107, Phone #702-948-5031; Licensed by the Pennsylvania Department of Banking; Rhode Island Licensed Lender; TX SML License #68405, 27030 Masters Pkwy, Spicewood, TX 78669; Licensed by the Virginia State Corporation Commission #MC-4832; Also conducts business in AL, AR, CO, DC, DE, FL, HI, IA, LA, MD, MI, MN, MO, MT, NC, ND, NE, NM, OH, OK, OR, SC, SD, TN, UT, VT, WI, WV, WY. Not all products and options are available in all states. Terms subject to change without notice. ©2010 Generation Mortgage Company. All Rights Reserved.

SOURCE Generation Mortgage Company

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