Great Oak Lending Partners Ranked 10th in US for Reverse Mortgage Production
Online, September 21, 2010 (Newswire.com) - Great Oak Lending Partners, a trusted mortgage company servicing the Mid-Atlantic today announced that it has been ranked # 10 nationwide for reverse mortgage production and volume for the month of February, as recorded by the monthly HECM endorsement reports. The company was also recognized as the top ranked company in the state of Maryland. This reflects an increase of 3,775 percent over 2009 production and a year over year market share increase of 4,910 percent.
"Reverse mortgages reflect a growing market segment and Great Oak Lending is honored to be recognized as a top producer in this market," said Joshua Shein, partner, Great Oak Lending Partners. "Our production volume is a direct correlation to our experience and expertise in helping the senior market understand this complicated product, demonstrating a confidence among this customer base."
A reverse mortgage enables homeowners 62 years and older to convert part of the equity in their homes into tax-free cash without having to sell the home, give up title or take on a new monthly mortgage payment. The reverse mortgage is aptly named because the payment stream is "reversed." Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to the homeowner.
Great Oak Lending was listed as Cooper & Shein, LLC (dba Great Oak Lending Partners).
About Great Oak Lending Partners
Great Oak Lending Partners is a trusted mortgage company servicing the Mid-Atlantic. With strong ties in the industry and community since 2001, Great Oak provides a full-range of mortgage products and services, ranging from refinance and reverse mortgages to financing new homes and investment properties. Based in Timonium, Maryland, Great Oak has originated more than $1 Billion in loans and is currently licensed in Maryland, Washington, DC, Delaware, Massachusetts, New Hampshire, Pennsylvania, and Virginia. For more information visit http:// www.greatoaklending.com or http:// www.greatoakreverse.com.
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About Great Oak Lending Partners
Great Oak Lending Partners is a trusted mortgage company servicing the Mid-Atlantic. With strong ties in the industry and community since 2001, Great Oak provides a full-range of mortgage products and services, ranging from refinance and reverse mortgages to financing new homes and investment properties. Based in Timonium, Maryland, Great Oak has originated more than $1 Billion in loans and is currently licensed in Maryland, Washington, DC, Delaware, Massachusetts, New Hampshire, Pennsylvania, and Virginia. For more information visit www.greatoaklending.com or www.greatoakreverse.com.