The retiring of a brand name that has been prevalent in an industry is not often an easy decision, but when it comes to what is now Mutual of Omaha Mortgage, the decision was made at least a little easier due to the transition to an already well-established brand, Pistone says.
The Mutual of Omaha brand is definitely an advantage for us.” I am also seeing doors open with strategic partnerships, which allows us to explore new opportunities for growth. “They trust the brand that they grew up with, which provides us with the opportunity to educate and clear up misconceptions.
“Absolutely! The Mutual of Omaha name and reputation resonates with our customers,” he says. When asked if that trend of opening more doors with seniors has continued into the here and now, Pistone replied in the affirmative, while reinforcing that even more proverbial doors have opened for the company’s loan officer corps. We have already started to see this happen.” “We believe the Mutual of Omaha brand will help open more doors for our originators, both with customers as well as referral partners. “Mutual of Omaha is a 110-year old company with a respected and trusted brand,” Pistone said in November. When the name change was first announced late last year, Pistone told RMD that the potential for further connection with senior customers increased because of the general recognition that comes with the Mutual of Omaha brand. How the name change has affected outreach We see a tremendous opportunity to serve existing customers as well as bring new customers into the Mutual family.” “Mutual serves millions of senior customers today. “The reverse mortgage product is a natural fit within Mutual of Omaha’s business, which includes senior-based insurance products and wealth planning,” he says.
In terms of how well reverse mortgage products fit into the larger landscape of Mutual of Omaha Insurance, Pistone says that the fit is a more natural one than someone might think. We believe the role of the reverse mortgage in retirement will be even more important and mainstream in the future, which will help millions of homeowners.”īecause of that understanding, Mutual of Omaha plans to take a leadership role in the industry by investing in serving senior customers in a meaningful way, he says. “We have a deep understanding of this customer and the challenges that they face. “The Mutual of Omaha Insurance Company has a special focus on the needs of older Americans,” he says. As part of the acquisition, the ownership of Synergy One Lending shifted to Mutual of Omaha Insurance Co.ĭespite the change in name and ownership, the dedication to the senior customer on the part of the Mutual of Omaha insurance company is very apparent in the priorities of the company, Pistone tells RMD. That merger, however would not include mortgage arm Synergy One Lending, under which the former RFS operated. It was in the middle of 2019 when it was announced that Mutual of Omaha Bank would be acquired by Pasadena, Calif.-based CIT Bank in a deal valued at $1 billion.
#Omaha mortgage synergy one lending inc update
To get an idea of what current operations are looking like after the rebranding, RMD reached out to Mutual of Omaha President Alex Pistone, who provides an update on what the company landscape is looking like in 2020. Now that we’re well into the year 2020, Mutual of Omaha Mortgage is better equipped to communicate with customers the unified brand identity, since the Mutual of Omaha name is well-recognized in the lending space.
Late last year, reverse mortgage lender Retirement Funding Solutions (RFS) – a subsidiary of Mutual of Omaha Insurance-owned Synergy One Lending – announced that it would be changing its name to Mutual of Omaha Mortgage to reflect its association with its parent company, and signified an effort on Mutual of Omaha’s part to align its reverse mortgage business more closely under a unified brand identity.
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