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Liberty Home Funding history
Liberty Home Funding company history timeline
Frederick, 31, and Capen, 30, invested about $25,000 in personal funds to start Liberty in January 2002, when low interest rates were driving a refinancing boom.
In November 2002, it added its first branch office in Orlando, then another office every few months, in Boca Raton, Jacksonville, Fort Myers and Phoenix, Ariz.
Liberty Reverse Mortgage is founded by Scott Hanson and Pat McClain, the owners of a leading Sacramento based financial planning firm (incorporated in CA on September 5, 2003) Launches first direct mail marketing campaign Changes the lives of 130 seniors
Revenue in 2003 topped $4 million, Capen said.
The first setback came in 2004 when three hurricanes slammed into Florida.
The 2005 hurricane season also was rough but the biggest blow came when the market for subprime loans tightened in August 2005 and the price paid by investors who bought Liberty's bundled loans dropped.
Nationally, new loans fell by nearly 20 percent in the first quarter of 2006.
Introduces wholesale financing for HECM loans (March 2007)
Ocwen Financial Corporation, a leading global mortgage servicer announces plans to purchase Genworth Financial Home Equity Access, Inc. in the first half of 2013
© 2022 PHH Mortgage Corporation, d/b/a Liberty Reverse Mortgage, 1 Mortgage Way, Mt.
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