AppraiserLoft announced it’s working with nine of the largest reverse mortgage lenders in the country in a company statement.
“We made a strategic decision in early 2007 to enter the reverse mortgage industry with zeal, and we have been fortunate to build such strong relationships during this time,” said Aman Makkar, AppraiserLoft’s founder and CEO. “The majority of real estate vendors were focused on the forward lending side due to the heyday of the real estate boom. On the other hand, we studied demographics and reverse lending statistics and realized the market was fairly untapped and in an upward trend.”
AppraiserLoft’s current client list includes Bank of America Reverse, Financial Freedom/OWB, James B. Nutter and Company, Generation Mortgage, Urban Financial, Genworth Financial, LiveWell Financial, Security One Lending and 1st Mariner Bank.
“The reverse mortgage borrower has a unique profile, therefore we ensure the appraisal process is handled with specific concern for the senior and their experience with the appraiser,” said Shane Copeland, Senior Vice President – Director of Sales. “Understanding the senior borrower as well as the reverse mortgage loan process has helped us provide a high level of service which has also reflected positively on the lenders that we represent.”
The company also recently added Eric Carmichael as its new chief technology officer.