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Generation Mortgage Company Reviews

Overall rating:
1.5
of 5.0
Rates & Fees:
2.5
of 5.0
Customer Service:
1.0
of 5.0
Knowledge & Expertise:
1.5
of 5.0

About Generation Mortgage Company

Generation Mortgage specializes in reverse mortgages, so is able to offer borrowers multiple lending options, along with resources for any questions their borrowers would regarding the process.
Headquarters
Atlanta, GA
Website

Bills.com's Review

Bills.com Rating:
3.5 of 5
 
Generation Mortgage is a reverse mortgage originator based in Atlanta, GA and is among the top 10 HECM lenders. Generation Mortgage offers only reverse mortgages and its team is comprised of reverse mortgage pioneers and NRMLA architects. They offer competitive rates and various reverse mortgage loan products to help meet the needs of its borrowers.
Pros
Offers good rates, friendly and knowledgeable loan officers and customer service
Cons
Lengthy loan process, slow loan approvals

Customer Reviews (6)


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Loan type option was not given to us

by | June 11, 2014
We were only given the fixed rate at closing. We were always steered away from the variable rate product. This was "WRONG"

late payments

by | October 2, 2013
My reverse mortgage contract says that there is a penalty Generation Mortgage would pay when they're late in payments. They have been late several times, and this month they're already 2 days late and just keep promising "it will be there tomorrow". I'm wondering if they're even fiscally viable, or if they're in financial trouble.

negligent?

by | August 7, 2013
My dad had a reverse mortgage with Generation Mortgage. He passed away in Apr 2011 and Generation Mortgage still has not taken back the property like they promised. They're not taking back the property, paid monthly maintenance bills for about 10 months then unexpectedly stopped paying with no explanation to anyone, wouldn't do a Deed in Lieu of Foreclosure and now the maintenance company for the property filed NOL and foreclosure. What a nightmare!!!

Never trust or use this company. They will tell you everything is fine and at the day of closing

by | June 13, 2012
Tell you you are declined. The mortgage broker we dealt with "Chris" was rude, impatient and downright dishonest. After working 3 moths to get the mortgage approved and thinking we were going to close that week emailed us and said we were declined. Please save yourself a lot of stress and heartache and use another company. This company has received very low rankings as compared to others. Do your research. You have to much to lose to trust this company.

Foreclosure on reverse mortgage

by | November 6, 2011
Generation gave an 80 old woman a reverse mortgage and then found out four years later that title was clouded at the time they gave it. Now they have foreclosed and are kicking her our into the street. Shouldn't they have done a title search to see if the property was owed, or encumbered by anyone else before giving her the mortgage? This type of behavior certainly is not characteristic of the type of company they advertise on their web site.

Customer Service at Generation Mortgage

by | May 24, 2011
I have a loan with Generation Mortgage. No problems with the loan. Just try to call and get anyone to call back. I have been leaving messages for them to return my call (all their agents are busy, please leave your name and phone number and we will return your call as soon as possible) for the past 3 days and still have not gotten any response. This is NOT the way to run a company. Kind of hard to recommend them to anybody when the customer support is this bad at Generation.