Reverse Mortgage USA hired Regina Eldridge as its director of business development, as the recently rebranded firm seeks to build on the traditional “forward” mortgage business of its corporate parent.
The Llano, Texas resident, who most recently served as an account executive for the industry-leading American Advisors Group, has more than 20 years in the mortgage space under her belt, with the last 10 in reverse mortgages.
“We are excited and thankful to be able to add Regina to our leadership team,” said Jon Maiolatesi, Reverse Mortgage USA’s director of operations, in a statement announcing Eldridge’s hire. “She brings a wealth of knowledge, industry connections, and know-how, as well as an ability to communicate effectively and educate our forward loan partners.”
The Plymouth, Mich.-based Reverse Mortgage USA brand dates back to last year, when parent Success Mortgage Partners, Inc. merged its formerly splintered reverse mortgage business into a single unit, as RMD reported last summer. Success had previously operated 1st Financial Reverse Mortgages in Michigan, and Franklin Funding in South Carolina.
Maiolatesi told RMD at the time that Success was attempting to capitalize on its forward-mortgage referral network of real estate agents and financial planners by presenting unified reverse mortgage branding.
“We feel strongly that the forward mortgage market needs this product, and this is a turnkey way for Success to offer it,” Reverse Mortgage USA director of sales David Heilman told RMD last year.
Reverse Mortgage USA shouldn’t be confused with two similarly named firms from past and present: A Texas-based company with the same name folded into AAG back in 2014, while Cherry Creek Mortgage’s reverse division, 1st Reverse Mortgage USA, continues to operate separately.
Written by Alex Spanko