Nationwide Equities Builds Reverse Mortgage Retail, Announces New Hires

Nationwide Equities today announced it has hired former Generation Mortgage sales manager Ed O’Connor and forward lending veteran Kevin Parsells to its retail sales leadership team. 

O’Connor, whose past experience includes owning a reverse mortgage company in addition to his work at Generation, will be based out of Long Island, New York, while Parsells will lead retail sales from New Jersey. 

Mahwah, New Jersey-based Nationwide Equities launched a wholesale channel in September 2011, currently led by Laura Alinger. The company will focus efforts on growing retail through the new hires, says Glenn Wallace, Nationwide president.

“We are committed to a balanced growth in our business plan,” Wallace says. “We plan to build a strong retail presence that complements our expanding wholesale business.”

Both of the new sales managers will be committed to penetrating the New York metro market. 

“I joined Nationwide because of its commitment to service and the ability to get loans closed quickly,” says O’Connor, who formerly led eastern regional sales at Generation. Parsells says he was drawn to the more independent nature of Nationwide Equities. 

“At Nationwide I have access to everyone,” he says. “There are no artificial barriers; everyone works as a team to get loans closed from the receptionist to the president.” 

The company recently became licensed in Delaware, Maryland, Maine, Oklahoma and Texas, with plans to become licensed in six other states. 

“Our goal is to have both a retail and wholesale presence in each state where we are licensed,” Wallace says. 

Written by Elizabeth Ecker

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