Expansion Effort Takes 1st Financial Reverse Mortgage into New States

Plymouth, Michigan-based 1st Financial Reverse Mortgage is moving into two new states for the company following its approvals in Indiana and Georgia this week. 

The company, which recently hired industry veteran Dennis Loxton to lead the growth of its reverse mortgage retail business, says there is more expansion under way in addition to the states where it currently operates. Expansion into Texas, North Carolina and Illinois is imminent, the company says, and will be hiring accordingly. 

“As a team, we are pleased with our expansion progress, and we are excited and enthusiastic about the opportunities that exist going forward in the reverse
mortgage space,” said Mike Gruley, Director of Reverse Mortgage Operations at 1st Financial.

The company is targeting referral-based originators in the expansion process. 

“1st Financial offers referral-based reverse mortgage professionals a combination of marketing support, strong operations, and top-tier compensation in which to grow their practice,” Loxton said. 

Written by Elizabeth Ecker

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