Read about the latest happenings in companies across the reverse space. Have exciting news to share? Email us to see it in print!
ReverseVision Welcomes Jeffrey S. Taylor to its Board of Directors, Adds Gregg Holsapple as Product Strategist ReverseVision has announced that Jeffrey S. Taylor, Master CMB, has joined its board of directors. Taylor is founder and president of Wendover Consulting, a leading reverse mortgage banking consulting firm, who has been instrumental in forming retail loan origination, correspondent and wholesale lending, and secondary marketing operations during his 35-year career. “The RV platform offers state-of-the-art technology and services to the reverse industry that are second to none,” says Taylor. “I am looking forward to working with the ReverseVision team as new services are developed to boost loan production and reduce cost for reverse mortgage originators.” RV has also hired Gregg Holsapple as product strategist, responsible for product and program analysis, developing requirements and building out our product design process.
Celink Enhances Servicing Platform to Meet GNMA Guidelines Celink has updated its reverse mortgage servicing platform, ReverServ, in response to customer needs and recent Ginnie Mae servicing guideline modifications related to the pooling of loan advances. Celink customers now have the ability to securitize current-month draw activity on loans with existing GNMA participations, bringing flexibility and increased speed to the loan activity process. “Celink will be reviewing the evolution of this change, under guidance from GNMA, and will remain responsive to our customers as experience and new guidelines dictate further enhancements,” said President and COO Ryan LaRose.
Urban Financial of America Names Jonathan Scarpati VP of Wholesale, Michael J. Weltman AVP and Sales Manager for the Southern Region Urban Financial of America (UFA) has appointed industry veteran Jonathan Scarpati to the company’s newly created position of vice president, wholesale production, overseeing all of UFA’s account executives. A seasoned reverse mortgage sales executive with more than 10 years of industry experience, Scarpati joined UFA in March 2010. UFA has also named industry veteran Michael J. Weltman assistant vice president and sales manager for the southern U.S. region, from Southern California to Florida. Weltman, who joined UFA in January, is a regular TRR contributor.
AAG Achieves Record Loan Volume AAG has achieved a new monthly retail sales record of 754 loans from its California- and Georgia-based call centers, taking the lender’s March funding numbers above and beyond 1,000 loans. The sales growth is followed by the absorption of more than 90 field retail reps from both the AMB and RMUSA reverse mortgage divisions, bringing the company’s staff total to more than 800 across the country, which has allowed AAG to exceed previous monthly loan numbers and lead the industry in year-to-date volume despite recent product changes.
Generation Mortgage Company Mentioned in Mainstream Media Generation Mortgage Company has achieved numerous mentions in top-tier mainstream media outlets in recent months, furthering its position as both an industry leader and expert resource for the media. Writers from The New York Times and Marketwatch interviewed GMC CEO and President Colin Cushman for articles regarding HECMs. Also, a recent article in Kiplinger’s Retirement Report featured content from GMC’s Senior Operational Oversight Specialist Diane Coats. To see the latest media coverage about GMC, visit generationmortgage.com.
360 Mortgage Introduces Reverse Mortgage Processing as a Service Platform, Hires Mike Suits to Lead Division 360 Mortgage Group, a privately owned mortgage banker with a primary focus on third-party origination, has launched a reverse mortgage processing platform for brokers, third-party originators, community banks and credit unions to originate reverse mortgage loans. The company will also be originating HECMs through its retail channel, hiring Mike Suits as division manager to lead a 16-person team. “Our on-demand reverse mortgage processing platform will not only allow third-party originators to offer additional products to remain competitive through any market cycle, but also remain fully compliant, mitigate risk and continue to control the client relationship. With Mike and his new team, we are off to a fast start,” said President and Founder Mark Greco.
Reverse Mortgage Funding Hires Robert Cooper as Director of Strategic Partners, Richard Thorpe as Sales Channel Leader Reverse Mortgage Funding has hired Robert Cooper as its director of strategic partners. Cooper will be responsible for building strategic relationships and partnerships with the builder and Realtor communities. RMF has also hired Richard Thorpe as its sales channel leader focused on distributed retail, one of several key channel strategies for the company this year.
