New Jersey-based reverse mortgage lender Nationwide Equities today announced it has expanded into a new space formerly occupied by Citicorp, adding 10,000 square feet to its existing offices.

The move was prompted to accommodate Nationwide’s recent growth and anticipated growth in the coming year.

“We have been blessed with continued growth both from our retail division and our wholesale division, so in order to maintain high service levels we needed to add staff,” said Glenn Wallace, Nationwide’s president. “We have quadrupled our space and consolidated two floors into one. It really gives us an opportunity to grow both wholesale and retail.”

The company launched a wholesale division in late 2011 and added a correspondent lending channel in 2012 based in Mahwah, New Jersey.

Nationwide’s company leadership expects the expansion efforts to further secure the company’s place in the reverse mortgage business “for the long haul.”

“Nationwide is committed to the reverse space for the long-haul and we believe that demand is there for a lender that can provide its clients with superior service, both in wholesale and retail,” Wallace said. “The product and the pricing is pretty standard; it’s the lender that can provide the service that will be standing at the end of the day. This expansion is our testimony to the fact we believe in this business and this product and we are committed to it.”

The new space allows the company to concentrate its team and operations toward that customer service initiative.

“We have very rigid service standards and to meet that challenge we needed the right space,” said Operations Manager Valerie Maher. “The new facility allows all production departments to be on the same floor which will certainly increase productivity.”

Nationwide Equities was No. 19 on the latest list of Top-100 reverse mortgage lenders tracked by Reverse Market Insight.

Written by Elizabeth Ecker