Business For Sale Listing 152683
Reverse Mortgage Correspondent Lender
Status as of Dec-4-2008 at 06:00 PM: Off The Market
Business Summary
The Company is one of the top 25 reverse mortgage originators in the United States with a history of exceptional top line growth coupled with bottom line earnings. The Company has senior management staff with significant experience in the mortgage and reverse mortgage business. With a solid operational platform in place, the Company has the ability to expand geographically and become a dominant player in this growing market. The principals of the Company are willing to entertain a partial or full liquidity event.
There are 27 million seniors who own their own home in the US, and the number of seniors is expected to double in the next 30 years. The current market penetration of reverse mortgages is 1%. Because baby boomers as a whole do not have enough savings to fund their retirement, reverse mortgages will become more important as a supplemental source of income and a source of funds for annuities and long term care insurance.
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Industry
Location
Financials
| Sales: |
Between $5 Million And $10 Million |
| Profits: |
Between $500 Thousand and $1 Million |
| Profit Type: |
Earnings Before Interest, Taxes & Depreciation (EBITDA) |
| Fiscal Year: |
2007 |
| Asking Price: |
Not Disclosed |
