Read about the latest happenings in companies across the reverse space. Have exciting news to share? Email us to see it in print!
Accenture Acquires Mortgage Cadence Global consulting and technology company Accenture has acquired Mortgage Cadence, a loan origination software company. Under the agreement, Mortgage Cadence will become part of Accenture and its software will be incorporated into Accenture Credit Services, a sector of the company’s financial services operations that provides consulting, technology and outsourcing to financial institutions. Accenture says it plans to use Mortgage Cadence technology as a core loan-origination platform to process mortgages on behalf of its outsourcing clients, and will also provide the software to lenders on a standalone basis through its banking technology division, Accenture Software.
Moneyhouse Grows Puerto Rico and U.S. Hispanic Markets, Hires Bud Curley Reverse mortgage lender Moneyhouse has grown its lending operations, establishing a wholesale office in Tulsa, Oklahoma, and a retail origination office in Orlando, Florida, that are focused on serving the Hispanic population. The company has purchased more than 600 wholesale loans and, in less than a year, has become the eighth-largest wholesale purchaser for reverse mortgages in the U.S. Moneyhouse is approved to originate mortgages in Florida, Oklahoma, Texas, Tennessee and Puerto Rico, and is currently waiting for license approval from California and Illinois. It plans to expand to new states in the third quarter of 2013. Sandy Tennekoon, the company’s SVP for U.S. sales, will leave the company for Brean Capital; former Urban Financial Director and CFO Bud Curley will take her place.
Open Mortgage Announces a Back-to-School Special for Teachers As part of its 10-year anniversary celebration, Texas-based Open Mortgage has announced a back-to-school mortgage special for teachers and school administrators. The special includes a $500 lender credit at closing for applications taken from August 1 through September 30. “I believe in those who educate, their institutions, and the behind-the-scenes school administrators who make both elementary and higher learning possible,” says Open Mortgage CEO Scott Gordon.
Liberty Home Equity Solutions Hires Bill Thomas as National HECM for Purchase Manager Bill Thomas has joined Liberty Home Equity Solutions as the lender’s national HECM for Purchase manager. Thomas will execute an aggressive growth strategy in the emerging HECM for Purchase segment, leading Liberty’s sales efforts with builders and real estate agents. Prior to joining Liberty, Thomas was the national HECM for Purchase manager for MetLife Bank, where he helped the company lead the market share for HECM for Purchase loans. “We’re very happy to have a leader of Bill’s caliber join our business,” says Tim Frederick, Liberty’s retail manager. “His 30-plus years of real estate and financial service expertise, practical experience in growing a strong H4P franchise and involvement in the builder community will further accelerate Liberty’s growth plans in this area. Our well-established inside and field sales teams will be further strengthened by the increased focus, additional support and proven strategies to win more H4P business that Bill brings with him.”
TRR Contributor Mercedes Kelley Tunstall Named Partner at Ballard Spahr Mercedes Kelley Tunstall has been named partner at the law firm Ballard Spahr. Tunstall is a longtime legal contributor of The Reverse Review who works in the firm’s business and finance department in Washington, D.C. Ballard Spahr also elected six other attorneys to its partnership, including Charley F. Brown, Michael R. Carroll, Cristina Coronado, Mary Croft, Gregory L. Seltzer and Abran Vigil. “Our new partners embody the Ballard Spahr hallmarks of legal excellence and remarkable alliances with clients, and we extend our congratulations to them,” the firm said in a statement.
Generation Mortgage Company’s nu62 App Enhances Market Penetration Since the introduction of nu62sm at NRMLA’s New York conference, Generation Mortgage Company has received great feedback from industry participants. CEOs and reverse mortgage professionals are excited about how nu62sm can be used as both a marketing tool to tap into a broader marketplace and as a sales tool to close more loans. Whether it’s marketing or sales, nu62sm is broadening the industry’s penetration into the prospective market. Generation Mortgage Company is currently welcoming feedback and using it to fine-tune marketing and sales collateral. For more information, please contact Nancy Armour at 404.995.5527 or firstname.lastname@example.org.