Read about the latest happenings in companies across the reverse space. Have exciting news to share? Email us to see it in print!
Maverick Funding’s Reverse Mortgage Network Expands Workforce
Reverse Mortgage Network, a subsidiary of Maverick Funding, is moving quickly toward its goal to expand from 32 to 45 states by 2013. The company is hiring loan officers and retail operations staff, and recently relocated its New Jersey headquarters to accommodate its rapid growth. Maverick has also significantly grown its processing, underwriting, licensing, compliance and closing/funding departments. “Maverick Funding has more than doubled in size during the last 18 months and the Reverse Mortgage Network will continue to be an essential part of our expansion,” said CEO Ralph Vitiello.
Generation Mortgage Company Launches New Wholesale Partner Website
Generation Mortgage launched a newly designed website for its wholesale division, featuring
a marketing tool kit, training materials and up-to-date reverse mortgage information. Voted “Best Wholesale Lender” by Reverse Mortgage Daily for the second year in a row, Generation seeks to provide useful tools and information to assist its clients in growing their reverse mortgage production.
Open Mortgage Continues Expansion, Hires Tom Aarons as Director of Secondary Marketing
Texas-based Open Mortgage announced the hiring of Tom Aarons as director of secondary marketing. Aarons, who has 28 years of experience in mortgage banking, has led an accomplished career in the field, serving as manager on a multitude of portfolio and corporate acquisitions and counseling regulatory and financial auditors and attorneys on various mortgage banking issues.
A La Mode Introduces Mercury Network’s New Appraisal Quality Management System
A La Mode introduced its new Appraisal Quality Management (AQM) system, available through its Mercury Network service, to help guide underwriters through appraisal issues and offer investors an easy means to assess risk. A collaborative effort by MasterServ Financial, AXIS Appraisal Management Solutions and A La Mode, AQM seeks to provide quality analysis on appraisal reports and offers an overall appraisal quality score that is compiled from an analysis of five weighted risk categories.