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Last week Ocwen Financial Services, the parent company of Liberty Reverse Mortgage, announced the acquisition of Reverse Mortgage Solutions. In a recent interview with Reverse Mortgage Daily, Mike Kent, president of Liberty shared how the acquisition will affect the company and where it now positions the company in the reverse mortgage industry.
“In the short term, the transaction will have little operational impact on Liberty,” said Kent in his interview with RMD. “It does make us the only reverse mortgage company that originates, securitizes and directly services reverse mortgages. Longer term, this transaction can provide our customers and partners a holistic, end-to-end superior customer experience.”
He adds that owning a reverse mortgage servicing platform gives the company leverage when it comes to supporting its reverse borrowers and partners.
“Aligning our origination business with our reverse servicing business will make possible better retirement outcomes for our borrowers,” said Kent.
“The ability to manage the borrower experience from the origination process through the servicing process will set a new standard for service in our industry,” Kent says. “Aligning our origination business with our reverse servicing business will make possible better retirement outcomes for our borrowers regardless of the origination channel.”