Read about the latest happenings in companies across the reverse space. Have exciting news to share? Email us to see it in print!
Generation Mortgage Company (GMC) Announces Colin Cushman as New CEO, Hires Cheryl MacNally as Chief Sales Officer, Launches New Web-Based Origination Platform Generation Mortgage Company announced Colin Cushman will serve as the firm’s new president and CEO. Cushman, who joined the company in July 2012, previously served as chief risk and strategy officer for the Atlanta-based lender. Prior to that, Cushman worked as the director of portfolio analysis for the FHA, where he was responsible for developing valuation models to support product development, premium pricing, risk management and operations. GMC hired Cheryl MacNally to be the company’s new chief sales officer. A former reverse mortgage executive at Wells Fargo, MacNally has more than 25 years of mortgage banking experience. Finally, GMC also announced the launch of its new cloud-based origination software, Orchestrator, by Mortgage Cadence, which will enhance services for GMC’s wholesale partners. The new software offers a variety of cutting-edge features and a training interface to help familiarize new users.
Mortgage Information Services Releases Online Fee Quote Program Mortgage Information Services (MIS), a nationwide provider of title insurance, settlement services and valuations, has launched a new Web-based fee quote program called QuotelinkTM. Available to all MIS clients nationwide for free, the advanced software allows users to log in to the MIS website and enter a minimal amount of information to receive an instantaneous quote for title, settlement or recording fees for a refinance transaction on a property located anywhere in the country.
Patrick Naughton Joins the Underwriting Team at FNC Title Services FNC Title Services, a Maryland-based title insurance provider that is licensed nationwide, welcomes Patrick Naughton, Esq., to its underwriting team. Naughton has more than 20 years of experience providing legal counsel for all aspects of commercial and residential settlements, underwriting and real property issues. He has served previously at Chicago Title Company, First American Title Insurance Company and Stewart Title Guaranty Company. In his new role, Naughton will focus on underwriting HECM transactions. “FNC is very happy to welcome Patrick,” said CEO Ali Farahpour. “We are very pleased to have such an experienced underwriter join the FNC team.”
1st Financial Reverse Hires Dennis Loxton as Regional Executive, Targets Growth Michigan-based 1st Financial Reverse has hired Dennis Loxton to spearhead the firm’s expansion of its reverse mortgage division in the Southeast and Midwest regions. As part of this initiative, 1st Financial will be recruiting reverse mortgage consultants to fill numerous positions in the next several months. The initial phase of the company’s expansion will focus on the Florida market, but licensing applications are in the works for Georgia, Indiana and Alabama.
Legacy Reverse Mortgage’s Ken Keranen Celebrates 20 Years in the Industry This month marks Ken Keranen’s 20th year in the reverse mortgage industry. Keranen, who works as an originator for Legacy Reverse Mortgage, first became a full-time loan officer in 1993 with ARCS Mortgage in Seattle, Washington. He later moved on to Seattle Mortgage, where he helped established the company’s servicing department and managed its retail operations. Keranen, who was also an original member of NRMLA’s board of directors, now originates loans throughout California, Oregon and Washington for Legacy Reverse Mortgage.