Security One Lending has teamed with Columbia Credit Union to offer reverse mortgages to Columbia’s members.
Top-10 lender reverse mortgage lender Security One says the agreement with Vancouver, Wash.-based Columbia Credit Union provides an opportunity to expand S1L’s reach in working with the credit union’s members.
““Our program provides a non-competitive solution for forward thinking financial institutions, like Columbia Credit Union, to leverage our knowledge and proven systems while protecting their members,” said Security One Lending President Torrey Larsen.
Columbia sees an equal opportunity in being able to direct its members to a single reverse mortgage lender.
“This agreement is the perfect complement to Columbia’s wide variety of mortgage programs,” said Bill Fulk. Columbia Credit Union SVP/Chief Lending Officer. “We were extremely diligent in our partnership selection process, and we’re pleased to refer our senior members to a company that will provide them with the education, care and service they need to make informed decisions on reverse mortgages.”
San Diego-based S1L closed 763 reverse mortgages in 2010, according to data from ReverseBase.
Written by Elizabeth Ecker