HighTechLending, Inc. on Tuesday announced a hire and two promotions, kicking off the new year with multiple personnel moves and a strategic shift in direction.
The Irvine, Calif.-based firm — which does business as AmericanSenior — brought on Nancy Davidson, an experienced DE underwriter, to serve as vice president of reverse operations, directly in charge of its HECM operations department. Davidson has nearly three decades of experience in the forward and reverse lending spaces, according to the company; she most recently served as the operations manager for South Pacific Financial.
In addition, Joan Imelio was promoted to vice president of secondary marketing, broker relations, product and system development, and reverse training. In her new role, Imelio will oversee HighTechLending’s reverse secondary marketing division.
Finally, Adrian Prieto was promoted to vice president of wholesale and retail branching after joining the company back in August. Prieto, a 13-year industry vet who has worked for a range of companies in the space, was tasked with boosting the company’s reverse loan production through its network of retail branches, HighTechLending said. Prieto was also charged with expanding the company’s wholesale market share by targeting existing Home Equity Conversion Mortgage brokers.
Before joining HighTechLending, Prieto was a senior vice president at American Advisors Group.
“Even in this tremulous time affecting production and profitability, HighTechLending remains steadfastly committed to the reverse industry,” company president Don Currie said in a statement announcing the hires and promotion. “In order to combat the contracting market, we will be expanding geographically, and have hired key experienced individuals to augment the growth of our branch locations and wholesale division nationwide.”
The personnel moves form part of an “aggressive strategic growth plan” for the coming year, according to the company.
HighTechLending finished 2017 in eighth place among reverse mortgage lenders, according to data from industry analysis firm Reverse Market Insight, with 1,377 total endorsed loans.
Written by Alex Spanko