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.
Headquarters: Atlanta, GA Website: www.generationmortgage.com
Generation Mortgage Top States AZ, GA, CA, UT FHA/HUD Approved Yes NRMLA Member Yes urban
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.
|Pros:||Offers Good Rates, Friendly And Knowledgeable Loan Officers And Customer Service|
|Cons:||Lengthy Loan Process, Slow Loan Approvals|
Reviews & Ratings
Loan type option was not given to us
Humphrey, AR | 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"
Vancouver, WA | October 02, 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.
Atlanta, GA | November 01, 2013
Nanette - As VP of the Servicing Department for Generation Mortgage, I thank you for your feedback and I apologize for the delay in monies reaching your account. Let me start by saying that Generation Mortgage is not in any financial trouble. October was the first time in the six years that Generation Mortgage has been in business that borrower payments were delayed. This delay was due to a mix-up internally. Borrower payments were sent out one day later than usual. Our CFO has put new steps in place to assure that a delay of monthly payments being sent to borrowers does not happen again. All borrowers have been contacted via letter explaining the situation. Borrowers have been encouraged to submit to our Servicing Accounting Department any documentation notating late fees/charges incurred due to delay in monies being received so Generation Mortgage can reimburse the borrower and also advise a borrower that late fee monies have been added to their account for that one day delay. If you experience any additional issues you can reach me direct at 404-995-5530 or at firstname.lastname@example.org. The Manager of Servicing Accounting can also be reached at 404-995-5164 or at email@example.com. Again, I apologize for inconvenience this has caused. Please feel free to contact either myself or the Manager of Servicing Accounting, should the need arise. Thank you, Mary Ann R.
Aiea, HI | August 07, 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
Eufaula, AL | 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
San Mateo, CA | November 06, 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
Phoenix, AZ | 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.
Atlanta, GA | September 17, 2011
Dean G - I apologize for the lack of customer service that you have experienced with Generation Mortgage in the past. There is no excuse that I can offer for the neglect you felt. I can assure you this is not the normal course of business at Generation Mortgage nor is this the customer service image that Generation Mortgage accepts. As Vice President of the Servicing Dept, I thank you for your feedback and would like to let you know that as of July, 2011 Generation Mortgage has developed and staffed a Call Center whose sole purpose is to be available to communicate with our customers. A new phone system has also been installed which allows management to monitor the incoming calls of the Call Center to ensure that they are all answered if not within minutes that those going into voice mail are returned within 24 hours. We have seen marked improvement in the volume of calls that the Call Center is now able to handle on a daily basis compared to the volume of calls handled prior to July, 2011. I also want to give you some direct telephone numbers to call if you ever again run into any problem with Generation Mortgage. My direct office line is 404-995-5530 and my cell number 404-543-9292. The Manager of the Call Center can be reached directly at 404-995-7825 and her cell number is 404-952-4658. The COO of the Company can be reached at 404-995-5174. Again, I apologize for the frustration that you have faced and please feel free to contact either myself, the Manager of the Call Center or the COO. Mary Ann R.
Get Free Reverse Mortgage Quotes
- InCharge Debt Solutions
- Money Management International
- Articles on Insurance
- HOI basics
- Cap on Insurance Coverage
- Do I Need Mortgage Insurance?
- How Much Will Insurance Pay?
- Debt Relief
- Insurance Providers Credit Check
- What to Do if You've Been in a Car Accident
- Insurance Articles and Insurance Information at Bills.com
- Debt Consolidation
- Filing Auto Insurance Claims
- Consolidate My Debt
- Point of Service (POS) Plan Information
- Health Savings Account Information
- Debt Consolidation Loans
- Buy a Home with an FHA loan
- Consolidate Debt
- IRS Tax Debts
- Pay Off Loans
- Deal with Tax Debt
- Consolidate Debt
- No Cost Mortgage Refinance
- Pay Down Your Credit Debt
- Reverse Mortgage Rules | Changes in 2013
- Reverse Mortgage Under 62
- Walking Away from Reverse Mortgage
- Reverse Mortgage and Credit Card Debt
- Reverse Mortgage and Medicaid
- Reverse Mortgage Loan
- Parents Reverse Mortgage Lender
- Is a Reverse Mortgage Right For Me
- Reverse Mortgage Liability
- Reverse Mortgage Inheritance
- VA Reverse Mortgage
- Qualify for Reverse Mortgage
- Reverse Mortgage for One Spouse
- Reverse Mortgage Foreclosure
- Getting a reverse mortgage when one spouse is younger than 62
- Does a reverse mortgage require a notary public?
- Reverse Mortgage on Upside-Down Property
- Inheritance & Reverse Mortgage
- Change Name on Mortgage When Qualifying for Reverse Mortgage
- One Reverse Mortgage review
- Equitable Reverse Mortgage Review
- Reverse Mortgage Living Trust
- Debt and Reverse Mortgage
- Reverse Mortgage on a Second Home
- Selling Reverse Mortgages
Rate the Lender
* Bills.com will not share, sell, lend, or make public your email address. Bills.com reserves the rights to remove any reviews that are considered as advertisement, spam, hateful, or offensive.
Thank you for submitting your review for: Generation Mortgage Company
Your review will be posted shortly. Your review is extremely helpful and important to the Bills.com community. Your experience with the lender will provide consumers like yourself valuable information used to select a lender that's right for them.
Sign up for your FREE account
And Get Back in Control of Your Finances!
Sign up for your FREE account
And Get Back in Control of Your Finances!
Thank you for contributing to the Bills.com community.
If approved, your comment will be posted shortly.
Search answers to other readers' questions, or ask your own and get a personal answer!
Learn how much you can save over time by cutting back on your daily latte or other small expenses that add up!
Consolidation? Credit counseling? Debt settlement? Bankruptcy? New loans? Debt Coach, a free online tool, gives tailored advice to help you find the right solution for your needs.
Use our Debt Consolidation Calculator to learn how much your loans actually cost, and to find solutions to save money!
How savvy are you about your personal finances? Take this quick quiz to learn insights into your finance habits and your Bills IQ.
Deciding if a mortgage refinance loan is right for you? Our calculators make it easy. Plug a few key facts about your old loan into our calculator, and learn if a refinance makes sense for you.
See today's national averages for adjustable and fixed-rate mortgages. Then drill-down to learn what is the best rate for you!
Learn what your fellow Bills.com readers think about financial solutions providers and mortgage lenders. We want you to share your experiences, too!
If you want to dive deep into your debt relief options, including the costs of each solution, read these whitepapers. Includes references, so you can follow-up on each fact cited.
Bills.com experts explain, in fast-paced videos, the basics of refinance, debt relief, student loans, and more.
Tool Box Easy to use resources to help you find solutions to your money questions