Reverse Mortgage Funding, a New York and New Jersey-based reverse mortgage lender launched in 2012 by several former MetLife executives and industry veterans, says it is ramping up its retail network and plans to hire and recruit nearly 50 new agents by the end of the year.
The company is “aggressively recruiting and hiring its national network of distributed retail agents,” according to its management.
“We are solely focused on reverse mortgages, and we need a sales team that shares that passion and can help consult with borrowers,” said Craig Corn, RMF CEO. “This company was built on the foundation of innovative products to help meet the needs of America’s seniors.”
Initially built on a 12-person sale team, RMF is increasing hiring efforts for the remainder of its team, which will comprise an additional 48 employees.
“We have been fortunate to attract some of the best, most experienced talent in the industry,” said Richard Thorpe, RMF national retail sales manger. “This is an exciting time to be a part of the reverse mortgage industry, and we have the products and offer the support to help make our sales team exceptionally successful.”
The company has recently paved the way for several new Home Equity Conversion Mortgage products, and is planning to take the company public in the near future. In May, RMF filed a registration statement toward taking the REIT public later this year, following a capital raise reportedly in the ballpark of $230 million through private investors.
RMF has said the proceeds from the IPO will be used toward expansion of the business including origination, acquisition, servicing and investment in reverse mortgages and HECM-backed mortgage securities.
Written by Elizabeth Ecker