Vertical Lend News - Financial Freedom™ Partners With Vertical Lend To Provide Reverse Mortgages

to allow older Americans to live comfortably and productively in their homes.

Financial Freedom™, a subsidiary of Lehman Brothers Bank FSB, is the nation’s largest lender of FHA and Fannie Mae reverse mortgages and the largest servicer of reverse mortgages in the country. They have helped more than 20,000 homeowners in 49 states translate more than $2 billion of home equity into disposable income since it began offering the program in 1991.

Often referred to as the mortgage that pays the homeowner, a reverse mortgage is a loan in which seniors over the age of 62 can capitalize on the equity in their home to receive a lump sum (for home repairs, a new car, home healthcare, etc.), line of credit monthly payments secured by the value of their house or any combination of these alternatives.

There are 21 million senior homeowners in America, 60% of which are between the ages of 65-70 and amount to $3 trillion in home equity. With these baby boomers on the verge of their much-anticipated retirements, their interest in reverse mortgages has doubled since 1999 and banks, brokerages and insurance companies are racing to add reverse mortgages to their practices.

Vertical Lend’s reverse mortgages program enables all 1,800 Vertical Lend members, which includes independent accountants, financial planners, tax preparers, insurance agents nationwide, to begin offering clients an effective way to unlock the equity built into their home and provide them with the financial security they need to enjoy their retirement years.

“More and more older homeowners are getting reverse mortgages to access the built-up wealth in their homes to generate additional income,” said David Peskin, CEO of Vertical Lend. “In doing this, senior homeowners can take care of their financial responsibilities without having to leave their home.”

“We are very excited about Vertical Lend’s entry into the reverse mortgage industry. Their expertise and experience working with seniors will greatly enhance the utilization of these excellent programs,” said Jim Mahoney, CEO of Financial Freedom™.

Unlike most financial products, advanced age is an advantage when obtaining a reverse mortgage. The obvious reason is the older the homeowner, the lower the life expectancy and the larger the amount a lender can advance. By working with a trusted financial planner or advisor who knows your financial history, they can help determine the type of payment structure that would best fit your financial needs, prepare the loan application, and can attend the mandatory counseling session that is required for all seniors interested in reverse mortgages. They can be an important second set of ears.

About Vertical Lend
Vertical Lend is the trusted partner of choice for leading financial professionals seeking to better serve their clients, and diversify their practices by offering a comprehensive range of residential mortgage products. Established in 1999, Vertical Lend and its retail division, Mortgage Warehouse, have closed over $1.5 billion in loans. With over 1,800 associates throughout the U.S., Vertical Lend's unique platform allows accountants, financial planners, tax preparers and insurance agents to originate mortgages under its business model.

Vertical Lend Inc. is a registered Mortgage Banker with the New York State Banking Department. All loans arranged through third party providers. CA- Licensed Finance Lender by the CA Dept. of Corporations under the Finance Lenders Law. IL- Illinois Residential Mortgage Licensee. NJ- Licensed Mortgage Lender by the New Jersey Department of Banking and Insurance. Licensed Mortgage Broker with the Office of the Commissioner of Banks Commonwealth of Massachusetts (License No. MB1884). Licensed Banker/Lender CT, FL, GA, MD, MI, NC Banking Departments. Registered Mortgage Broker OH, OK (as d/b/a Mortgage Warehouse). VA - Licensed by the Virginia State Corporation Commission. National Headquarters: 3 Huntington Quadrangle, Third Floor, Melville, NY 11747.

About Financial Freedom™
Financial Freedom™ is a founding member of the National Reverse Mortgage Lenders Association. NRMLA is a nonprofit trade association, based in Washington, DC, whose mission is to support the continued evolution of reverse mortgages as an important financial option for senior homeowners while educating both its members and consumers about the varied applications of this unique loan.

Financial Freedom™, based in Irvine, California, is the largest originator of reverse mortgages in the United States. Financial Freedom™ originated $1 billion of home value in reverse mortgages in 2002 and has made more than 30,000 reverse mortgage loans totaling more than $5 billion in home value. Financial Freedom™ is now the largest servicer of reverse mortgages with a servicing portfolio of approximately 32,000 loans. Lehman Brothers Bank, FSB is a subsidiary of Lehman Brothers, the global investment bank. The Bank provides a full range of community banking services to individuals in Delaware, as well as consumer financial services and products, such as mortgage and deposit products, to high-net-worth clients. Headquartered in Delaware, the Bank is expanding its capabilities through the Internet to provide banking services nationally, and plans to offer its products through strategic partnerships with retail and financial organizations throughout the country. Additional information on Lehman Brothers Bank and its services can be found by visiting its website at www.lehmanbank.com.

The flag logo, “Financial Freedom,” “The Reverse Mortgage Specialist,” “Cash Account” and “Zero Point Cash Account” are Trademarks of Financial Freedom Senior Funding Corporation, Irvine, California.

Media inquiries:

Kathleen Sheridan
Stanton Crenshaw Communications
212-780-1900 x534
ksheridan@stantoncrenshaw.com

Samantha Giacco
Vertical Lend
631-454-6013
sgiacco@verticallend.com