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Press release content from Business Wire. The AP news staff was not involved in its creation.

Retirement Funding Solutions, 55places.com Form Mortgage Joint Venture Aimed at 55+ Market

May 22, 2019

SAN DIEGO--(BUSINESS WIRE)--May 22, 2019--

Retirement Funding Solutions, a division of Mutual of Omaha Bank subsidiary Synergy One Lending, Inc., and 55places.com have reached a definitive agreement to form 55places Mortgage, a joint venture aimed at providing financing options to homebuyers aged 55 and over, Synergy One President Torrey Larsen announced.

55places.com is the largest home search firm focused on 55+ communities nationwide, providing homebuyers with meaningful neighborhood and community information so they can make an informed decision about where they want to purchase their retirement home. 55places Mortgage will provide valuable financing options to these homebuyers, including traditional and reverse mortgage (HECM for Purchase) financing.

“55places Mortgage will offer a simple solution to a complex transaction for today’s retirees who are looking to purchase a home in a 55+ community,” Larsen said. “Many of these homebuyers are looking for home financing options through an educational process with a lender they can trust. 55places Mortgage has been formed to serve that role and will take a holistic approach to the homebuyer’s individual needs.”

The terms of the agreement were not disclosed.

“The two companies share a passion for the customer,” said Alex Pistone, President of Retirement Funding Solutions, the reverse mortgage division of Synergy One Lending.

“55places has built an impressive team and we are a strong cultural fit – with both firms committed to a relentless drive towards an exceptional customer experience through the combination of talent, technology and digital marketing expertise. We are excited by the potential this transaction offers to expand and serve more Boomer homebuyers in the traditional and reverse mortgage markets,” Pistone said.

“Synergy One Lending places high value on the client experience, which aligns closely with the 55places.com culture and commitment to honesty, fair dealing and superior customer service,” said Bill Ness, CEO and Founder of 55places.com. “Education for our customer base is critical, and no one has done a better job with the HECM for Purchase product than RFS/Synergy One. I’m confident this will be an excellent fit for our customers and agents.”

About Retirement Funding Solutions

Retirement Funding Solutions is a division of Synergy One Lending, Inc., a wholly owned subsidiary of Mutual of Omaha Bank that is an agency approved Seller/Servicer, licensed to conduct mortgage origination activities in 46 states. Synergy One Lending is strategically built to support and grow both retail and wholesale business channels, while operating under the brand Retirement Funding Solutions for its reverse mortgage lending activities. Synergy One Lending also does business as Mutual of Omaha Mortgage. For more information on Synergy One Lending, visit www.s1lending.com.

About 55places.com

55places is the number one resource for active adult communities in the United States. The website offers unbiased information, such as current home sale listings, photos, floorplans, descriptions, and third-party reviews for more than 2,000 age-restricted and active lifestyle communities across the country. 55places and its team of real estate agents are licensed experts equipped to help prospective residents find an ideal home in their dream community. For more information, visit  www.55places.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190522005665/en/

CONTACT: Mutual of Omaha Bank

Jim Nolan (402) 351-2944

Jim.nolan@mutualofomaha.comMutual of Omaha Mortgage

Alex Pistone (619) 794-1901




SOURCE: Mutual of Omaha

Copyright Business Wire 2019.

PUB: 05/22/2019 12:33 PM/DISC: 05/22/2019 12:33 PM


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