Senior Lending Network Launches Bank Direct Program

image The Senior Lending Network announced the official launch of its Bank Direct Partner Program.  The new initiative enables community and regional banks to seamlessly integrate reverse mortgages into their platforms while leveraging the Senior Lending Network brand.

The partnership allows banks to tap into the company’s proven tools, experience, and industry methodologies from its in- house operations, technology, training, and marketing teams said a company statement.

The SLN’s first Bank Direct partner is Champaign, Ill.-based Busey Bank. With more than 40 branches in three states, Busey has a wealth of experience in personal and business banking, and wealth management. 

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"Our product is specifically tailored for senior citizens, and if this program is going to successfully reach its intended demographic, we need partners that are trusted entities within their communities," said David Peskin, Senior Lending Network CEO. "To have the opportunity to invent a new angle in the industry — especially with a partner like Busey — marks the beginning of an exciting era for all of us."

The SLN also offers brokers the ability to leverage the company’s brand with its Partner Program that was introduced at the end of last year.

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  • This looks like another attempt to “Farm” the name out.
    I would hate to be one of their loan officers right now. They just went into competition with themselves and will continually lose more opportunities of speaking with seniors. It looks like Mr. Peskin has no faith in his own retail loan officers.

  • It’s a great idea and he did it ahead of the curve. Local banks and credit unions are a goldmine of business. Banks need safe places to refer customers. A place other than competing banks (Wells, BofA). If they can keep their customer “in house”, why not? We’re working on this very same idea on a smaller level here in CA. Who says the current retail officers won’t benefit? Someone has to close the loan and if the banks aren’t approved themselves, it has to be an SNL LO. This is just a fancy referral system. I love capitalism! If they do this right, it’ll be huge because we all know that today’s seniors look for/trust a brick and mortar place to do financial business.

  • I agree with industry expert. No matter how you feel about SLN or Peskin it is a brilliant idea! It’s forward thinking and in today’s market place you need every edge you can get.

  • Senior Lending Network almost ruined my business and I fired them. They are horrible to deal with and don’t know what they are doing. They have really hurt a lot of my customers and my business… My bank partners never want us to do business with them again. I hope everyone reads this and pays attention. They will hurt you too.

  • Whatever anyone’s personal experience with SLN is really their own business. I don’t believe this should be a post for making personal or business attacks and quite frankly I am not interested in reading them.

    If we stick to the point about the press release. Do you think this is a good marketing plan? As I stated I believe it is forward thinking in an business where most of us (myself included) are spending far too much time complaning about things that I am starting to realize we have no control over.

    We have been doing alot of complaining over the last few weeks and nothing has changed. Some are responding far too many times to the same post with short essays instead of comments that are to the point.

  • Cynic,

    I don’t want to get into a war of words but you should go back over the last few weeks and you will see that your comments are the most long winded by far over anyones.

    Please note my first comment#4 before I got tired of all the whining. For the record I will live by my words and keep my respones to the subject matter only from now on. Let’s see if everyone else can do the same.

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