Up and coming reverse mortgage lender Reverse Mortgage Funding, officially open for business as of August 1, has launched its second office location in Melville, New York, to complement existing operations in Bloomfield, New Jersey.
The Melville operations will be led by RMF President David Peskin, who anticipates further growth for the company in the near term.
“We are very happy with our growth and look forward to recruiting new members,” Peskin said.
Among its leadership, RMF includes former MetLife underwriting and fulfillment manager Colleen Pirraglia leading fulfillment for the company and Mike Mooney, also formerly of MetLife, who is leading the company’s third party origination sales.
In light of recent and upcoming changes to the Federal Housing Administration’s reverse mortgage product, RMF’s leadership says the product is still positioned for growth.
“The HECM program is experiencing the most significant changes since its inception,” Mooney said. “We are looking to add to our seasoned team of industry veterans who share our vision in establishing long-term relationships with likeminded institutions that understand the growing need for home equity as a part of retirement planning for many older Americans.”
Written by Elizabeth Ecker