Reverse mortgage newcomer 360 Mortgage Group, which recently announced plans to expand in the reverse mortgage space after launching a reverse-specific division in March, has rolled its complete service platform for reverse mortgages.
The Austin, Texas-based company is formally introducing its reverse mortgage division along with a processing platform that allows brokers, third party originators, community banks and credit unions to originate reverse mortgages.
360 Mortgage Group has previously announced it is partnering with ReverseVision as its loan origination software provider.
Industry veteran Mike Suits is leading the division, which now comprises processors Kristin Yates and Kim Stripling; underwriters Mindy Brown and Michael Adler; closing rep Alex Padilla; Ruben Maltos in funding; trainer Mickie Raquet; and account executives Melissa Entin and Christopher Kerksieck, who have previously worked together with Suits.
“Our goal in the Reverse Mortgage Division will be to capitalize on the market share already available through the great relationships that 360 Mortgage Group has developed over the years by leveraging out team’s significant experience in the reverse mortgage industry.”
Suits most recently led retail and wholesale sales for Reverse Mortgage USA, also based in Austin.
Toward its goal of becoming a Top-3 reverse mortgage lender in addition to its longstanding forward business, the company says its reverse platform will lead the charge for growth.
“Our on-demand reverse mortgage processing platform will not only allow third party originators to offer additional products to remain competitive through any market cycle, but also remain fully compliant, mitigate risk and continue to control the client relationship,” said Mark Greco, president and founder of 360 Mortgage Group. “With Mike and his new team we are off to a fast start.”
Written by Elizabeth Ecker