Moneyhouse Announces Reverse Mortgage Expansion Plans, Personnel Changes

Puerto Rico-based reverse mortgage lender Moneyhouse is mapping continued expansion plans into the United States, including several personnel changes that will work toward driving growth.

Moneyhouse has hired former Urban Financial CFO Bud Curley as senior vice president for U.S. Expansion and announced Sandy Tennekoon will depart her post as senior sales director to pursue an opportunity with Brean Capital. Current leadership includes Angel Vázquez, SVP of Retail Sales, who will continue to oversee expansion.

The company recently launched a wholesale channel as part of an effort to expand into U.S. markets and has grown to become the eight largest wholesale purchaser of reverse mortgages in the U.S.

Sandy Tennekoon, who joined the company in 2012 from a previous role with Urban Financial Group, will depart Moneyhouse effective August 1.

Curley’s experience spans work for public and privately held companies in the U.S. and overseas.

“Bud has led several high-growth national real estate firms and has extensive experience building strategic partnerships and leading corporate development,” said David Levis, president and CEO of Moneyhouse. “His experience and leadership will help us capitalize on the rapidly growing market for Hispanic reverse mortgages.”

Through the launch of sales channels as well as a campaign led by celebrity spokesman Gilberto Santa Rosa, Moneyhouse says it is on track to meet expansion goals and continue broadening them.

“Our goal was to find a proven leader who could help us expand our presence and Bud is the perfect fit,” Levis said. “Sandy has provided tremendous leadership for our sales effort. During her tenure our annual sales have increased to record levels. More importantly, Sandy has developed a talented, experienced team with national reach and a deep understanding of the reverse mortgage industry. While we will miss her leadership, she leaves us well positioned for continued growth.”

Written by Elizabeth Ecker

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