American Home Bank announced earlier this week that it was rebranding Beacon Reverse as American Home Bank Reverse. Beacon Reverse became a division of American Home Bank in 2006 and handles all of the bank’s reverse mortgage production.
Russell Rothstein, managing director of American Home Bank Reverse, said the name change reflects American Home Bank’s increasing prominence, and commitment to reverse mortgage lending. “Changing our name to reflect our affiliation is a logical move, and emphasizes our community bank orientation,” commented Rothstein.
James Deitch, American Home Bank’s CEO, said the division’s choice to focus on supporting community banks, credit unions and non-profit lenders places them at the forefront of what is an emerging trend in reverse mortgage lending. “When it comes to reverse mortgages, senior homeowners and their families appreciate working with community- based institutions with whom they already have a relationship,” Deitch said.
American Home Bank (AHB) was purchased by First National Bank of Chester County at the end of 2008 to help the bank expand its mortgage footprint and increase its fee income. AHB has multiple delivery channels in the retail and wholesale mortgage arena as well as joint venture mortgage partnerships with builders and modular manufacturers. .