Reverse Mortgage Network this week announced it has hired Brien Brandenburg, a 13-year reverse mortgage veteran who worked most recently as an area sales manager for Wells Fargo. In addition to the recent hires of a dozen loan originators, the company says since it closed its first reverse mortgage loan in October it has committed to growing its reverse division and becoming an industry mainstay.
The reverse mortgage division operates under parent company Maverick Funding, which has both forward and reverse mortgage operations.
Brandenberg will lead the North Carolina, South Carolina, Tennessee and Virginia markets for RMN from his Greensboro, N.C. base. In his experience with Wells Fargo, he was responsible for training and managing hundreds of reverse mortgage originators. Two additional sales managers have also joined the team for other regions. Joseph Cappello will oversee New Jersey, Ohio and Pennsylvania, while Steve Philbrick will manage sales for Florida, Alabama and Georgia.
The company is growing with the help of an in house fulfillment team, allowing originators to close loans quickly, says Dino Guadagnino, vice president.
“One of the gaps in the marketplace is loan officers have to do more work than simply sales,” he says. “This allows them to sell and not worry about those other back-end tasks.”
Reverse Mortgage Network, with its origination team at around 40 strong, is setting its sights high.
“Our goal is to see ourselves at 75-85 loans per month as the year ends,” Guadagnino says.
Written by Elizabeth Ecker