Press Release: Two Firms Join NRMLA’s Wholesale Lender Program

FOR IMMEDIATE RELEASE

Washington, DC—The National Reverse Mortgage Lenders Association (NRMLA) today welcomed Live Well Financial, Inc., of Richmond,VA, and Generation Mortgage Company, of Atlanta, GA, as charter members of the association’s new Wholesale Lenders Program. Launched on July 17, the Wholesale Lenders Program provides information to lenders and brokers on delivering reverse mortgages to reputable investors.

“Live Well Financial is pleased to join NRMLA’s Wholesale Lender Program as a charter member. We look forward to partnering with NRMLA and all of its members to help the reverse mortgage industry continue its impressive growth,” said Chris Palumbo, Senior Vice President and COO of Live Well Financial.

Sherry Apanay, Senior Vice President of Wholesale Lending at Generation Mortgage Company, added, “Generation Mortgage is pleased to support NRMLA and our industry in this new endeavor. Wholesale lenders working together for the good of the reverse mortgage industry should make us all stronger."

The reverse mortgage marketplace continues to grow at a rapid pace. The number of lenders approved by the FHA to originate reverse mortgages leaped from 1,001 in January 2008 to 2,461 in June 2009.

“NRMLA is the primary resource for anyone who wishes to succeed in the reverse mortgage business,” said Peter Bell, President of NRMLA. “Whether you’re an experienced originator or just entering the business, the Wholesale Lender Program will address the challenges unique to wholesale lending.”

Other Wholesale Lender Program participants include, Senior Lending Network, Bank of America Home Loans, Metlife Home Loans and Genworth Financial Home Equity Access, Inc. To access information on these companies, please visit NRMLAOnline.org.

More About NRMLA
The National Reverse Mortgage Lenders Association (NRMLA) is a national trade association based in Washington DC that represents the reverse mortgage lending industry. Our lender members provide reverse mortgage financing to clients that are age 62 or older. The association provides education, training, communications and advocacy for fair, prudent and ethical lending practices in the reverse mortgage industry. NRMLA members must abide by a Code of Ethics and Professional Responsibility that promotes practices to serve senior clients with integrity and professionalism.

For more information contact Darryl Hicks dhicks@dworbell.com or 202-939-1784, or Marty Bell mbell@dworbell.com or 202-939-1745.