Security One Lending has hired 130 former MetLife reverse mortgage employees, doubling its retail sales channel and continuing its expansion east.
The new retail employees comprise 70% of MetLife’s top performing sales force, the company said Tuesday, in addition to the recent hires of five regional managers and sales representatives, and the addition of former MetLife executive Bob Sivori as the company’s executive vice president.
With the addition of the new hires, Security One becomes the company with the largest reverse mortgage sales force in the industry, according to S1L. With a 65% majority of its sales team now east of the Mississippi River, the company expects to make a strong footprint nationwide. The expansion includes a new loan processing center in Newburgh, New York.
“Our sales force is made up of some of the best professionals in the industry, all of whom are committed to the financial well-being of the senior homeowner,” said Alex Pistone, senior vice president and co-leader of the Retail Sales Unit at Security One. “We will leverage the team’s collective knowledge and experience to deliver the best possible service to our customers.”
Security One expects its sales volume to grow accordingly. The San Diego-based company has closed 2,406 loans this year to date through its retail and wholesale channels, according to the latest data from Reverse Market Insight.
“As our sales force has grown, so has our customer base,” said Bob Sivori, executive vice president, Security One. “We have made major strides—including the addition of the new processing center—to keep the reverse mortgage business running as smoothly and efficiently as possible. Our customers’ experiences with Security One remain our top priority.”
Written by Elizabeth Ecker