“If a reverse mortgage is the best solution for that borrower, we’ve got that in our product lineup, but if it’s a traditional forward mortgage, that’s an option going forward as well,” he said. Mutual of Omaha Mortgage president Terry Connealy will oversee the entity going forward, telling RMD in May that the company would take an “agnostic” approach toward recommending reverse or forward mortgages to its clients. Synergy One will continue to operate as a wholly-owned subsidiary of its new Omaha, Neb.-based parent, maintaining its offices in San Diego and existing Retirement Funding Solutions brand name. “By combining our collective strengths, Mutual of Omaha Bank and Synergy One will be able to serve more customers who are in the market for a traditional or reverse mortgage.” “This acquisition brings together two organizations that complement each other strategically and culturally,” Mutual of Omaha Bank CEO Jeff Schmid said in a statement announcing the closing. The terms of the deal, first announced in May, remain undisclosed. The two parties received regulatory approval from the Office of the Comptroller of the Currency earlier this month, Mutual of Omaha Bank said Tuesday, with the transaction formally closing on July 16. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.Mutual of Omaha Bank on Monday completed its purchase of Synergy One Lending, Inc., cementing its entrance into the reverse mortgage marketplace. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.ī is an independent, advertising-supported publisher and comparison service. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.Įditorial policy, so you can trust that our content is honest and accurate. Our experts have been helping you master your money for over four decades. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. Our editorial team does not receive direct compensation from our advertisers.īankrate’s editorial team writes on behalf of YOU – the reader. We maintain a firewall between our advertisers and our editorial team. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. What to do when you lose your 401(k) matchīankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Should you accept an early retirement offer? How much should you contribute to your 401(k)?
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