Title and appraisal company Mortgage Information Services Inc. is expanding into the reverse mortgage business, the company announced this week. Having been in the “forward” title business for more than 20 years, the company says the time is right to expand its services into the reverse mortgage market. Today the company offers title, closing and appraisal services.
“It has been a slow progression over the last few years, but we feel that this is a market that is going to grow exponentially as people get more knowledge on what a reverse mortgage can do for them,” says David Stroop, MIS regional vice president.
The company is based in Cleveland, Ohio and Miami, Florida, and offers its services nationwide. It anticipates growth of its business through its hands-on approach and one-stop ability.
“We still offer a true one-stop shop experience,” Stroop says. “Lenders can work with the same person nationwide whether the home is in Virginia, Ohio or California; it will be the same team.”
Written by Elizabeth Ecker