Total Mortgage Services will begin originating reverse mortgages and hired a 14-year veteran of the mortgage industry to head the new initiative. Connecticut-based Total Mortgage Services originates forward mortgages in 21 states and announced it will begin offering Federal Housing Administration (FHA)-backed home equity conversion mortgages (HECM), where homeowners age 62 or older can borrow against the equity in their property. Reverse mortgage borrowers receive a lump sum, a line or credit, regularly scheduled monthly payments, or a combination of the three. In a reverse mortgage transaction, loan repayment in not required until the borrower dies or no longer uses the home as his or her primary residence. “With over 18% of the American population at least 60 years of age, and that segment projected to grow, we believe it is the right time to expand our reverse mortgage program to help seniors, as well as key family members and advisors, clearly understand the implications of this important financial decision,” said John Walsh, president of Total Mortgage. To manage Total Mortgage Services' new line of business, Donna Marino joined the company as reverse mortgage specialist. Marino has more than 14 years experience in the mortgage industry, and more than four years working specifically in the reverse mortgage arena. Prior to joining Total Mortgage, Marino held positions at Campbell Mortgage, Mortgage Solutions, and CT Mortgage. “We are extremely pleased to have someone of Donna’s experience and leadership ability join the Total Mortgage team,” Walsh said. “Donna clearly understands the importance of providing relevant information to seniors who are interested in reverse mortgages, while allowing them ample time and space to make decisions that are in the best interest of their overall financial well-being.” Write to Austin Kilgore.