Marking the fourth anniversary of its founding, RMS (Reverse Mortgage Solutions, Inc.) has announced major expansions of its positioning in both the reverse and forward mortgage markets.
Formed in 2007 as a provider of loan servicing and private-label subservicing technology for reverse mortgage products, RMS now has moved aggressively into the reverse origination sector, announcing a new correspondent and retail presence, along with new asset management capabilities for performing and non-performing forward mortgages and REOs.
“Our corporate objective remains the same: To be a dominant force in all aspects of mortgage lending and servicing. This is another, giant step in achieving that goal,” said Robert D. Yeary, Chief Executive Officer. “We had ambitious growth plans at the start, four years ago, confident that our management team with its proven record of success and deep industry relationships would drive impressive results. But, we’ve exceeded even our own high expectations,” said Yeary, adding: “We have brought diversity and choice to the marketplace and many key industry institutions are taking notice.”
On the front-end, RMS has begun an originations operation, building a call center at its Spring, Texas headquarters (near Houston), that will drive leads to its outside sales force. In addition, the company has entered into several exclusive lead generation contracts that will enable the company to quickly scale up the operation as their origination sales force grows.
High-profile personnel join the company
As part of its growth, RMS recently hired several high-profile personnel, among them Ralph Rosynek as Vice President, National Correspondent Production Manager; and Ellie Johnson as Vice President, Correspondent Operations. She will build out and manage the company’s Atlanta fulfillment center to support its correspondent division. Rosynek previously was with 1st Reverse Financial Services and Johnson with Vertical Lend, Inc/World Alliance Financial.
RMS also has negotiated the hire of Gary Bauch as Senior Vice President, National Sales Executive, Reverse Mortgage Division; and Audra Pickens, Vice President - Regional Sales Executive in Texas. She will bring with her more than a dozen former Bank of America personnel. BofA recently exited the reverse mortgage business. The new management team will be reporting to Senior Vice President, Michael D. Kent who is heading up the RMS lending division.
H. Marc Helm, President and Chief Operating Officer, RMS, said the company’s “vibrant growth within our existing markets and entry into new ones will deepen our industry presence and provide cross-sector opportunities from forward and reverse originations to servicing to securitizations. In particular,” Helm noted, “the industry’s increased focus on handling distressed assets, with an eye on the bottom line, positions us to be a major ‘go to’ company.”
Kent enthusiastically added that the company “is fortunate to have some exceptional talent join us at a time when both forward and reverse markets are undergoing marked change, presenting some fabulous opportunities for those who have the right mix of people, capital and vision to take advantage of them.” He hinted at even more “industry shaking rollouts” to come in the weeks and months ahead.