Reverse Mortgages Called a Sure Thing

The reverse mortgage business is "a guaranteed growth industry," according to a venture capitalist who says he's willing to invest in practically any aspect of the sector. "Lots of companies need growth capital," Diogo Teixeira of the Revmore Investing Group, Wellesley, Mass., said at the National Reverse Mortgage Lenders Association's Eastern Regional Meeting in Philadelphia. Revmore has already made one reverse mortgage deal with an investment in Your Home for Life, the 10th-largest originator in New England in 2007 and the sixth-largest independent originator. Now it is casting about for other investments, possibly in technology firms or lead generation companies. "We're looking for additional opportunities elsewhere in the country and elsewhere in the business," Mr. Teixeira said on a panel session entitled "Where Is the Capital Coming From?" The private investor said he's particularly interested in firms with strong management teams in place and sound plans for how they'll use his money. NRMLA can be found online at http://www.reversemortgage.org.