In an effort to fully round out its product and service offerings, Spring, Texas-based Reverse Mortgage Solutions has ramped up its origination channel and will begin developing lending partners to originate loans across the board in all channels of reverse mortgages.
RMS, now in its fifth year of operation, launched a call center in Spring, Texas earlier this year to build on its loan servicing, technology, REO asset management and Ginnie Mae securitization offerings.
“As I like to say, we’ve built the company ‘in reverse,’ from the back-end forward to ensure that when we were ready to originate reverse mortgages there would be a strong, reliable framework to ensure their success for RMS and our producer partners,” said Bob Yeary, chairman and CEO of RMS. “Market events of the last four years have proven that strategy to be best for an enduring presence in the business.”
The company has named two regional directors to lead the development of its lending partners. Ralph Rosynek, RMS vice president, will head up the new third-party origination flow. Garrett Kolb, formerly president, Collateral Force Corporation Financial Services Management and Jamie Longe, formerly national wholesale director for Graystone Mortgage, will oversee the Western and Midwestern markets, respectively.
“This new channel will address the needs of third-party-originators who are already active in the reverse space and those looking for an entry point,” Rosynek said, referring to the approach as an “open access environment.” With market players changing, he added, “the timing is right for of this initiative.”
The lending platform will work for originators of all sizes, Rosynek says, and RMS partners will have access to its Web-based origination system, RM Compass.
Written by Elizabeth Ecker
