Read about the latest happenings in companies across the reverse space. Have exciting news to share? Email us to see it in print!
FirstBank Mortgage Partners Receives DE HECM Approval
HUD granted FirstBank Mortgage Partners Direct Endorsement (DE) HECM approval, just as the company approached its one-year anniversary in the reverse market. Now a true closed-loan seller, FirstBank plans to continue growing its operation team and sales force.
Mortgage Cadence Releases New Version of prime+ Software
Technology provider Mortgage Cadence released prime+ 12.1, an updated version of its Prime Alliance software. The newest version of prime+ offers users 45 new tools and alerts designed to increase efficiency, enhance communication and speed up loan closings. Mortgage Cadence is the leading provider of Enterprise Lending Solutions, which provides data-driven workflow automation tools to mortgage banks, credit unions and servicers.
Open Mortgage Names Joe Morris Senior Vice President of Lending
Texas-based lender Open Mortgage announced that Joe Morris will be the new senior vice president of lending, concentrating on the reverse mortgage market. Morris was the COO and
founder of Unity Mortgage, which became a major component of Financial Freedom, and was also the founder and CEO of Generation Mortgage Company, now a top three lender. Open Mortgage, which was named a top 25 HECM lender in April 2012 by RMI, plans to grow its reverse business under Morris’ leadership.
Peggy Whalen Joins Direct Finance Corp.
Peggy Whalen has joined Direct Finance Corp. as a senior reverse mortgage advisor. Whalen, who has more than 10 years of experience in the reverse sector, is a Certified Senior Advisor and certified reverse mortgage counselor. Direct Finance Corp. is a licensed forward and reverse mortgage broker in Massachusetts, Rhode Island and New Hampshire.