Nationwide Equities is continuing to ramp up its wholesale operations on the heels of growth in 2013 and plans to continue growing its reverse mortgage market share in the coming year. The company this week announced the hire of Cecilia Silano as its newest wholesale representative.
Silano, who brings experience most recently from Liberty Home Equity Solutions, will cover the New York tri-state region in her new role, and will “bring back that face-to-face delivery that wholesalers used to provide,” the company says.
“This is a unique opportunity for Cecilia because there’s so much density here in the metro areas,” says Glenn Wallace, Nationwide’s president. “The old concept of the AE walking into the broker’s office is viable.”
The company is planning to target growth on a steady path based on service and pricing with the potential for several more hires in the near future.
“There have been a lot of changes in products and brokers have reached out to us for help,” says . “It’s back to basics for us. We need to get out of the office and out on the streets with our customers—our brokers.”
The New Jersey-based lender is now operating in 44 states. It closed 173 fourth party reverse mortgages in the fourth quarter of 2013 according to data compiled by Reverse Market Insight, making it the top producing wholesaler among non-HMBS issuing reverse mortgage lenders.
Written by Elizabeth Ecker