Liberty Home Equity Solutions, Inc., recently announced the appointment of Mike Kent as its new president, effective April 27, 2015.
Kent previously was the president of loan originations for Reverse Mortgage Solutions (RMS). In addition, he has more than 30 years of “forward” mortgage experience, having held leadership roles across various lending functions, including sales, operations and secondary markets.
“Mike is the perfect fit as president for Liberty,” said Otto Kumbar, CEO of Liberty, in a written statement. “He wants to grow the industry and is passionate about helping more seniors. Mike’s extensive forward mortgage experience will help accelerate Liberty’s growth and his entrepreneurial spirit and outstanding relationships in the industry will create new opportunities for Liberty.”
Based in Sacramento, Calif., Liberty ranks among the top-five reverse mortgage lenders and was one of the few to buck volume decline in March, according to data collected by Reverse Market Insight.
While home equity conversion mortgage (HECM) endorsements dipped slightly overall that month, Liberty posted 390 loans, a 47.7% jump from February and the largest monthly endorsement gain among the top-10 lenders.
“Recent changes in the reverse mortgage product, as well as changes in the industry, have created excellent opportunities for companies with a strong base,” Kent said. “That is why I am excited about joining the team at Liberty. They have assembled a strong management team, have a dedicated staff of professionals, and have built a great production platform.”
He added, “Liberty is ready to take our growth to the next level and support the expansion of our industry. We have a very dynamic environment at Liberty Home Equity Solutions that will continue to attract the best professionals in our industry.”
Written by Emily Study