NEW YORK: Generation Mortgage, a top 10 producer of government-insured reverse mortgages, has ended its reverse mortgage originations business, including its retail and wholesale operations.
The decision includes the elimination of jobs across Generation’s reverse mortgage originations platform. Although it is not accepting any new applications, Generation is maintaining its current pipeline of loans as well as its servicing platform and business.
“The decision to exit the origination business was not an easy one, but was made inevitable by the wave of recent regulatory changes,” said Colin Cushman, CEO of Generation Mortgage…