Nationwide Equities Targets Reverse Mortgage Growth, Hires Horton

Nationwide Equities has expanded its retail division with the addition of Terrie Horton as regional sales manager for retail sales.

Horton brings more than 10 years of reverse mortgage experience to Nationwide, a top-25 lender looking to expand its retail footprint across the United States.

“We have been busy getting licensed in over 40 states during the past year and we are looking to establish a retail presence in all of those markets,” said Glenn Wallace, Nationwide Equity president.

Much of Horton’s experience comes from working for some major industry players, including Financial Freedom and MetLife. With her on the Nationwide team, the company is looking to build a strong sales force.

“Last year we were fortunate to recruit one of the top wholesale account executives in the country, Laura Alinger, to head up our wholesale channel. Now, we are looking to do the same on the retail side,” Wallace said.

Nationwide added a retail reverse mortgage division in July 2012 to its existing wholesale business, when it announced plans to have a retail and wholesale presence in every state in which it is licensed. Nationwide ranked 21st for reverse mortgage origination volume as of August 2013, according to Reverse Market Insight.

Horton was most recently a branch manager at 1st Reverse Mortgage USA and says she’s looking to re-engineer Nationwide’s retail business with some innovative marketing strategies, flexible compensation plans, and aggressive pricing models.

“The next year will prove to be very challenging for most companies, but I feel Nationwide has a flexible platform that can adapt to the anticipated changes in the market,” Horton said. “Our loan officers will be given the tools they need to reach potential borrowers and the service level to close their loans quickly without the shackles of investor overlays.”

Nationwide says it’s also planning to increase warehouse capacity, add key sales and marketing personnel, and expand its forward FHA product availability to all its originators.

Written by Alyssa Gerace

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