generation mortgage: Generation Mortgage to Exit Reverse Mortgage Business - 10/08/14 05:09 AM
Generation Mortgage to Exit Reverse Mortgage Business
Generation Mortgage, according to an article published on Reverse Mortgage Daily, will cease reverse mortgage originations in both its wholesale and retail departments effective October 9.
The company's decision to cease operations has been attributed to highly regulated environment which has affected the industry in the past year.
Colin Cushman, CEO of Generation Mortgage stated:
“The decision to exit the origination business was not an easy one, but was made inevitable by the wave of recent regulatory changes. As a result of those changes, the industry has seen a reduction in the number of units, as … (0 comments)