Generation Mortgage Review

Editor’s note: In late 2014, Generation Mortgage shut down its reverse mortgage origination business. We’ve left our review in case you are curious about what the company once was. If you want to work with a lender, you can still give this link a try.

All About Generation Mortgage

Generation Mortgage Company, headquartered in Atlanta, Georgia, was founded in 2002. The company is privately held, and its controlling shareholder is Guggenheim Partners, LLC, who you may remember as the company that purchased the Los Angeles Dodgers in 2012.

It’s no secret that the Federal Housing Authority (FHA) and its Home Equity Conversion Mortgage (HECM) dominate the reverse mortgage market. Generation Mortgage is one of the few lenders to offer a proprietary reverse mortgage loan that falls outside of this government program. The company’s Generation Plus product offers an option to seniors with home values that are above the government’s limit of $625,500.

Interested in a reverse mortgage? Click here for more information.

Customer Reviews

Unlike competitors such as One Reverse Mortgage, Generation Mortgage has not done a good job of aggregating consumer reviews on the Internet. Consumers searching for reviews will find a few scattered across different websites, and the few reviews are generally positive. Generation Mortgage boasts an “A+” rating from the Better Business Bureau, and it’s also won numerous awards from the Atlanta BBB, including recognition for Marketplace Ethics and Customer Service.

Ready to learn more? Click to get more information about a reverse mortgage.

How Do We Feel About Generation Mortgage?

In our opinion, Generation Mortgage is one of the best reverse mortgage lenders out there. While most lenders are happy to originate HECM loans, Generation has actually stepped in and created a product that serves the needs of those who are not wel served by the FHA’s program. We would feel more comfortable recommending Generation Mortgage if there were a larger number of consumer reviews out there, but unfortunately that’s the state of the reverse mortgage industry at this point in time.

Interested in a reverse mortgage? Click here to learn more about your options.