Generation Mortgage Company, Atlanta, closed 1,405 government backed 'Home Equity Conversion Mortgages' (HECMs) in the first quarter of 2009, a 233% increase from the first quarter of 2008.GMC says it is the nation's sixth largest funder of reverse mortgages. Company president Joe Morris said higher loan limits for reverses (HECMs) "provide greater liquidity in homes with higher values. This in turn makes the reverse mortgage more attractive than ever before for older boomers and seniors seeking greater financial independence."
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