Read about the latest happenings in companies across the reverse space. Have exciting news to share? Email us to see it in print!
Landmark Network Acquires Hamilton Appraisal Management Services
Los Angeles-based AMC Landmark Network has acquired Hamilton Appraisal Management Services (HAMS). Launched in 2010, New Jersey-based HAMS entered the space on the heels of HVCC and experienced tremendous growth. Under the new deal, Landmark will retain HAMS’ East Coast offices and management team.
TVC Capital Purchases Majority Stake in ReverseVision Inc.
San Diego-based growth equity firm TVC Capital has purchased a majority stake in loan origination software provider ReverseVision Inc. The deal includes an equivalent equity purchase in the interrelated company Reverse Documents Inc. John Button has been appointed president and founder Thomas Martignoni will continue to work with both companies.
Texas Celebrates 50,000 Reverse Mortgage Loans
The 50,000th reverse mortgage was issued this November in Texas. “Over the next decade, as more Texans are forced to deal with stock market fluctuations, tax
increases and expanding health care costs,
reverse mortgages will continue to take on a greater significance in their financial planning,” said Scott Norman, VP of Sente Mortgage’s HECM division.
Moneyhouse Launches U.S. Operations
Puerto Rico lender Moneyhouse is officially making its move stateside. The company is opening its retail office in Orlando, Florida, on January 15 and was just licensed in Texas. The company is also planning to launch wholesale operations and is currently collecting applications from lenders in Texas, Oklahoma and Florida.
Mortgage Cadence Promotes Seth Hooper to Director of Reverse Lending
Reverse mortgage technology provider Mortgage Cadence announced the promotion of
Seth Hooper to director of reverse lending. Hooper joined the Denver-based company in 2010 after seven years in the industry, focusing on reverse lending, mortgage production and document services.
2012 Marks a Year of Growth for Open Mortgage
Texas-based Open Mortgage experienced unprecedented growth in 2012, opening 44 branch offices and bringing new team members Joe Morris (SVP) and Diane Creasy (director of marketing) on board.
Premier Reverse Closings Approaches Milestone
Premier Reverse Closings (PRC), an industry leader in reverse mortgage title and settlement, will close its 150,000th reverse mortgage transaction this month. The Rocklin, California-based company works with every major lender in the reverse mortgage industry and attributes its success to the expertise and dedication of each member of its 60-person team.
Celink Wins Integrity Award from Regional BBB
Reverse mortgage servicer Celink was one of three companies that received the annual Integrity Award from the Better Business Bureau of Western Michigan. Ryan LaRose, Celink president and COO, said the award was a validation of the Celink Code of Ethics, which was first drafted by his father and CEO John LaRose.