Industry Veteran Launches Reverse Mortgage Consulting Business

After spending 42 years in mortgage banking and 10 in the reverse mortgage industry, John Smaldone is joining Hanover Financial Services as executive vice president to provide consulting services to companies looking to get into the reverse mortgage industry.

During his mortgage banking career, Smaldone has owned two mortgage banking firms, Florida Southern Mortgage Corporation and Taylor Bean & Whitaker Mortgage Corporation, which was sold to a bank in 1991.  Most recently, he was the senior VP and head of the reverse mortgage division at AAXA Discount Mortgage, a lender based in Wilmington, NC.

According to Smaldone, there is a demand for people who can help lenders adjust to the new regulatory environment in the reverse mortgage industry.

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“Companies are either doing some reverse mortgages or want to enter the arena for the first time,” he said to RMD in an email.  “I am trying to find the right match where I can be a consultant for only one firm on a more permanent basis.”

John Dale, Founder and CEO of the Spiriter Companies, has been working with Smaldone since March 2010 to assist in recruiting new loan originators and helping to identify new procedures and policies.

“The only issue plaguing the reverse mortgage industry is the lack of qualified consultants with specialized focuses as one would traditionally find in the IT industry,” Dale told RMD. “As the reverse mortgage industry matures, I suspect we will find a larger stable of area specific talent from which to choose.”

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  • Good day,

    I want to thank all of you for your support. I am confident I will be of value to our industry in a consultants roll. I am part owner of Hanover Financial Services, which has been in business for 15 years.

    We are in a great industry, even though we have many challenges ahead of us. With the vast amount of baby boomers coming of age daily, they need us more today than ever.

    As long as we never forget we are here to serve our seniors and do the best job we can for them, we will always be successful. Their are always bad Apples in the bunch, we have seen our share of them, especially over the past couple of years. Most of us are not in that category, we are in this business because we love it and we love the satisfaction of helping those that need it most.

    My thanks to John Dale of Spiriter Companies for his comment. I am still with them and they have been a great assignment. Also my thanks to John Yednak, Amin. for the The Reverse Mortgage Daily Post for writing the article, John and the post are great people and doing an excellent job representing our industry. I am here to stay my friends!

    John A. Smaldone
    Executive Vice President
    Hanover Financial Services
    Reverse Mortgage Consulting Services
    PO BOX 5688
    Maryville, TN 37802
    865-980-3583: Office
    865-982-5180: Fax
    865-406-5377: Cell
    hanoverfinancial@charter.net

  • Good day,

    I want to thank all of you for your support. I am confident I will be of value to our industry in a consultants roll. I am part owner of Hanover Financial Services, which has been in business for 15 years.

    We are in a great industry, even though we have many challenges ahead of us. With the vast amount of baby boomers coming of age daily, they need us more today than ever.

    As long as we never forget we are here to serve our seniors and do the best job we can for them, we will always be successful. Their are always bad Apples in the bunch, we have seen our share of them, especially over the past couple of years. Most of us are not in that category, we are in this business because we love it and we love the satisfaction of helping those that need it most.

    My thanks to John Dale of Spiriter Companies for his comment. I am still with them and they have been a great assignment. Also my thanks to John Yednak, Amin. for the The Reverse Mortgage Daily Post for writing the article, John and the post are great people and doing an excellent job representing our industry. I am here to stay my friends!

    John A. Smaldone
    Executive Vice President
    Hanover Financial Services
    Reverse Mortgage Consulting Services
    PO BOX 5688
    Maryville, TN 37802
    865-980-3583: Office
    865-982-5180: Fax
    865-406-5377: Cell
    hanoverfinancial@charter.net

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