OmniHome Financing, the Largest Privately Held Reverse Mortgage Originator in the Country, Moves to New Expanded Headquarters

MISSION VIEJO, Calif.--(BUSINESS WIRE)--OmniHome Financing, Inc. www.omnireverse.com announced today that it had moved to a newly expanded headquarters in Mission Viejo, California. According to Reverse Mortgage Insight www.rminsight.net OmniHome Financing is the largest privately held reverse mortgage originator in the country.

“We are very excited about expanding our business into a new state of the art corporate headquarters. This facility will allow us to recruit and grow our sales and operations team to keep up with the demand,” said Sean Browning, CEO of OmniHome Financing Inc. “The new facility is a result of our successful growth and will allow us to operate more efficiently while also providing for continued growth,” said Browning.

According to the National Reverse Mortgage Lenders Association http://www.nrmla.org Reverse Mortgages showed significant growth in 2007. FHA insured reverse mortgage loans or Home Equity Conversion Mortgages (HECM) have seen unprecedented growth over the last three years as the demand for these products continues to accelerate.

Nationally, 107,558 federal government-insured reverse mortgages closed last year, a nearly 41 percent increase from the previous fiscal year and nearly 1,300 percent more than in fiscal year 2003.

According to the NRMLA, Americans age 62 or older hold an estimated $4.3 trillion in home equity. Reverse mortgages, while growing dramatically, still represent less than 1% of market penetration. The idea of using home equity as a viable solution is gaining popularity as seniors are looking for new ways to finance retirement and meet their financial obligations.

“We believe that the Reverse Mortgage Sector provides a growth opportunity as 80 million baby boomers are entering their retirement years. The equity in their homes can provide them with a steady source of income without them having to give up title to or sell their home to finance their retirement years. Reverse Mortgages are the perfect solution for today’s marketplace,” said David Bancroft, President of OmniHome Financing Inc.

About OmniHome Financing Inc.

OmniHome Financing Inc. is based in Mission Viejo, CA. The Company was founded in 2002 by David Bancroft, Tony Gaglione and Keith Murphy and is a privately held company.

OmniHome Financing Inc is located at 27101 Puerta Real, Suite 300 in Mission Viejo.

For more information call 949-421-3700 or visit www.omnireverse.com