Security One Lending today announced it has hired a group of former MetLife reverse mortgage account executives under the leadership of Mike Mooney. The hires are in a direct effort by the San Diego-based company to grow its wholesale lending channel, and will allow Security One to access a new broker and borrower base.
Mooney, formerly with MetLife’s reverse mortgage wholesale business, will serve as senior vice president for Security One. He is joined by former MetLife account executives Kathy Hood, Derek Marks, Mark O’Neill and John Burich, who will bring their books of business to Security One’s wholesale lending division. The new team will allow Security One to expand east, says Torrey Larsen, Security One president and CEO.
“We looked at the number of accounts they had and the brokers they covered and layered that on top of what we covered. We found very little overlap,” says Larsen of the decision. “There was very, very little conflict.”
While the company had a small East Coast presence previously, Larsen says, the new business will be a substantial addition to the company’s wholesale operations, now covering 39 states.
“The lion’s share of what we picked up is on the East Coast,” he says, expecting that Security One will add 150 brokers/bankers by year end under its third party origination group.
The expanded production team will operate out of a new, Security One site in Bloomfield, New Jersey.
Security One now counts 220 reverse mortgage team members on its retail and wholesale teams.
“This move reinforces Security One’s commitment to top mortgage brokers around the country,” said Larsen. “Our combined team of brokers is best in class, offering not only a full suite of products and productivity tools, but also dedication to a hands-on approach with clients that ensures a high level of service.”
Written by Elizabeth Ecker