Miami-based reverse mortgage wholesale lender MCM holdings is expanding “aggressively” as it works to broaden its licensing across new states and launch a “Broker Development Network” in the first quarter of 2014.
The company, led by President and Chairman Michael Camus, is working to build a team to help promote and grow the platform, which has recently obtained licensing in Alabama, Oklahoma and Puerto Rico.
“We are in the process of assembling a team of highly qualified and seasoned industry veterans that will allow MCM to offer a broker development platform that will focus on the TPO and Principal Agent market, helping our present and future business partners learn to thrive in the reverse mortgage industry, while navigating through the ebbs and flows of today’s retail market place” Camus says.
From its Florida headquarters, the company targeted Puerto Rico specifically due to its location, among other benefits. There it will work not only as a wholesaler but also to assist brokers and principal agents there with marketing, CRM development, product knowledge and training and other initiatives.
“It was a natural progression for us to get our license in Puerto Rico due to proximity, cultural similarities and language fluencies,” Camus says.
MCM has named Hader Mahmoodi as vice president and director of wholesale, a role in which he will oversee the wholesale lending arm.
“Hader was a reverse mortgage originator for many years before moving to wholesale with MCM, Camus says. “His depth and understanding of the origination process and what brokers endure during a transaction makes him an invaluable source for our business partners. It was an organic progression of growth for him and MCM.”
The company is planning to target 26 key state licenses nationwide by the third quarter of 2014.
Written by Elizabeth Ecker