Irvine, Calif.-based reverse mortgage lender HighTechLending—doing business as AmericanSenior—Thursday announced the hiring of John Loveless as National Business Development Manager of Reverse Wholesale and Branching.
Most recently, Loveless served as President of Las Vegas-based Proficio Mortgage Ventures, LLC. In his new role with HighTechLending, Loveless will be working closely with Joan Imelio, vice president of the company’s reverse mortgage division.
Loveless’ key responsibilities include expanding reverse mortgage loan production through retail and wholesale branch channels to meet production and profitably objectives, Proficio stated in a release. He will also oversee and direct HighTechLending’s Reverse Wholesale Division and marketing force.
Other duties include overseeing and directing new branch acquisitions and branch expansion in all available markets of HighTech Lending.
“We are growing our footprint of branch locations,” said Don Currie, president of HighTechLending, in a press release. “We have grown exclusively by referral and John Loveless understands our vision and is ready for the challenge that lies before him.”
HighTechLending credits its growth in the reverse mortgage space to specializing in converting reverse brokers into branch partners. Doing so has provided the company with the necessary tools to compete on a banking level in the reverse industry. The company also caters to mortgage brokers and bankers who want to break into the reverse market, but don’t have any reverse experience.
As HighTechLending looks to the second half of 2016 and beyond, it plans to “aggressively” expand its branch platform while also educating brokers on a wholesale level, the company stated in the release.
In recent months, HighTechLending has added new offices across the U.S., including New Jersey, Virginia and Illinois, and is licensed in multiple states.
Earlier this year, the company launched its AmericanSenior brand in efforts to tailor its lending platform specifically for older borrowers. As a result, AmericanSenior is now the consumer direct reverse mortgage division of HighTechLending.
“His [Loveless’] experience in the reverse mortgage industry will play a vital role in HighTechLending’s continued national expansion,” Currie said.
Loveless joins HighTechLending just two months after being hired by Proficio to oversee all aspects of the company’s reverse mortgage operations. He will be based in Nevada.
Through June, HighTechLending totals 618 HECM endorsements in the first half of 2016, an increase of 58% compared to its year-ago production, according to the most recent industry data tracked by Reverse Market Insight.
Written by Jason Oliva