Longtime reverse mortgage veteran Steven Sless prepares to exit the industry

Sless tells RMD that he hopes to consult industry participants in the future and may still originate loans

Steven Sless, reverse mortgage division president at Primary Residential Mortgage, Inc. (PRMI), is preparing to exit the reverse mortgage business after receiving an offer to serve as COO at Trius Lending Partners, a private finance, commercial and hard-money lender for real estate investors.

Steven Sless, reverse mortgage division president at Primary Residential Mortgage, Inc. (PRMI)
Steven Sless

Sless has been a reverse mortgage professional for the last 18 years, joining PRMI in 2019 after serving as the national reverse mortgage director for U.S. Mortgage Corporation the previous year. Sless previously detailed how the greater investment in the reverse mortgage space came about, including through a partnership with the industry’s leading lender American Advisors Group (AAG).

He has been a regular fixture of reverse mortgage industry events hosted by the National Reverse Mortgage Lenders Association, speaking about the importance of building a personal brand in the space, offering sales tips for originators, and how to continue in the space while the nation was embroiled in the most restrictive days of the COVID-19 coronavirus pandemic.

“We are privileged to have Steven Sless join Trius,” said company CEO Josh Shein. “With his strong leadership abilities, and proven track record of achieving measurable success, I am confident we’ve chosen the ideal person who will take our growing organization to new heights.”

In addition to his work at conferences, Sless has also been active in other areas of the industry, including through work designed to promote the benefits of reverse mortgages to seniors, and to improve the reputation of the industry as a whole. Sless also advocated for industry professionals to seek out different kinds of referral sources, including through personal certifications such as one offered by the Institute for Divorce Financial Analysts (IDFA).

Sless told RMD that he still plans to participate in the reverse mortgage industry, potentially on a consulting basis in the future, as well as through loan origination and speaking engagements.

“My intention is to offer reverse mortgage consulting to organizations and individuals through my LLC once I get settled into my new role at Trius,” he said. “I also intend to keep my mortgage license active and still offer reverse loans to clients that are referred to me. The details of whether that will be through PRMI or another lender are still up in the air and being negotiated.”

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