Generation Mortgage Co., a reverse lender in Atlanta, has hired Scott Peters from Nortel Networks Corp., a maker of telecommunications equipment, to be its new president and chief executive.

He succeeded Joe Morris, who is taking on the job of executive director for industry relations. Morris, who had been president and CEO since the company's founding in 2006, will represent Generation in the National Reverse Mortgage Lenders Association and in its dealings with mortgage brokers and lawmakers.

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