Nationwide Equities announced that Laura Alinger will be joining the company to head up its wholesale reverse mortgage business.
Alinger will serve as the vice president of Nationwide’s wholesale channel and manage a team of account executives.
“We are very excited to have someone of Laura’s knowledge and experience join the Nationwide team,” said Glenn Wallace, president of Nationwide Equities during an interview with RMD. “Laura is someone who wants to build something and join an up and coming company.”
Currently, the company has account executives in Florida and plans to add another in Maryland to cover the mid-atlantic states. Nationwide’s wholesale business has stayed relatively small so far, closing 85 reverse mortgages according to data from Reverse Market Insight.
Expect that to change with the addition of Alinger, who was previously one of the top producing account executives with Urban Financial Group. Alinger built a business with of over 100 accounts at the company according to Urban’s website. In order to support the growth, Wallace said it will add additional state licenses across the country and plans on being licensed in 15 states by the end of the year.
The majority of Nationwide’s business comes from its retail channel, but Wallace expects it could change with the addition of Alinger.
“We are looking for wholesale to compliment our retail business where both channels have an equal representation”, he said. “We are looking to build off our service delivery platform that we have been engineering since we got into this business.”
At the end of the day, “we can deliver the service level that we find the competition has a difficult time to match,” he said.