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Article: Braving Uncharted Space: Reverse Mortgages: With mortgage industry players expecting a reverse mortgage boom, can technology keep up - and measure up for consumers?
- Article from:
- Mortgage Technology
- Article date:
- March 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If you go to www.goldengateway.com, you will see a kind of mortgage website that is likely to become increasingly familiar to borrowers 62 and over. The simple-to-navigate site uses enlarged type to take senior homeowners and their family members through the steps leading to a reverse mortgage. Created by Oakland, Calif.-based Golden Gateway Financial Inc., the site bills itself as the only unbiased reverse mortgage marketplace, providing side-by-side comparison of reverse mortgages offered by Bank of America, Financial Freedom, Countrywide, EverBank and Wells Fargo at this writing, the five leading reverse mortgage funders.
On the other hand, Lender Loan ...