HomeStreet Bank is expanding their reverse mortgage business with the addition of three new employees in Washington state.
The group joins the bank’s Senior Marketing Lending team, which is led by Janet Kaul, Vice President and Reverse Mortgage Lending Manager. Kaul was brought on in December 2010 to oversee the bank’s Senior Market business development efforts.
“Many seniors are finding themselves increasingly challenged economically and looking for a way to remain at home and give themselves more financial breathing room,” said Kaul. “However, they’re often not aware of the options they have for doing so. I am thrilled to have such a great team in place, people who are truly committed to helping senior homeowners find the best solutions possible.”
The new additions include Chris Barnes, a twenty-year mortgage and financial services veteran with several years of experience originating reverse mortgages. Prior to joining HomeStreet, Barnes was part of Seattle Mortgage.
Mike Broderick will also join the team and brings more than 15 years of experience in the Reverse Mortgage industry and over 20 years in mortgage lending overall. Mr. Broderick was with Seattle Mortgage for the past decade, where he was one of the lender’s original Reverse Mortgage loan officers.
In addition, Gayle Woodruff recently joined the company and will be based in the bank’s new lending center in Lynnwood, Wash. Prior to joining HomeStreet, Woodruff spent over three years as a reverse mortgage originator with Stay In Home Mortgage.
Based in Seattle, HomeStreet Bank has assets of $2.48 billion and a network of 31 branch and mortgage offices in Washington, Oregon and Hawaii.
The company has a small reverse mortgage operation, originating 25 HECMs in 2010 according to data from ReverseBase.