Top 10 reverse mortgage lender Fairway Independent Mortgage Corporation announced on Tuesday several new appointments to round out a shakeup in its leadership structure first announced last month.
Tane Cabe, whom Fairway first appointed in 2022 as its reverse business development manager with a focus on Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business, will now serve as president of reverse lending. He will lead the division under its new direction.
“The entire focus of our team will be streamlining support and ops across Fairway – we can have great vision, but it all hinges on closing loans quickly and well,” said Cabe.
Alongside Cabe, several new appointments have also been made. Craig Barnes will serve as VP of reverse education and training, coming off a long tenure at Reverse Mortgage Funding (RMF) for the past nine years. Barnes brings with him a wealth of professional experience in the reverse mortgage space, having served as a teaching leader at companies including MetLife and Security One Lending.
Barnes will serve a critical role in meeting the broader mission of Fairway’s reorganized reverse mortgage division, which the company is calling “Fairway Reverse 2.0.”
“The key to efficiency in closing is clean files, and the key to clean files is excellent training,” Cabe said. “On product and policy, but also on systems and tactics – hence Craig Barnes.”
Barnes says that the opportunity exists at Fairway to further mainstream reverse mortgage lending.
“I am thrilled to be able to bring my experience to a completely new environment like Fairway – the spirit of collaboration and learning is so exciting,” Barnes said in a statement. “It’s one thing to bring reverse education to one of the largest traditional non-bank lenders, but to be welcomed so wholeheartedly is incredible. Fairway sees an opportunity to mainstream the HECM and other reverse loans across the lending industry.”
VP of reverse marketing Tom Evans will move to a new role as EVP, reverse marketing and technology. This move is designed to “facilitate the adoption of reverse both inside the company and for the consumer,” the company said.
Industry veteran Mike Daryanani will also now serve as EVP of reverse sales support, having previously serving in operations and sales roles in Fairway’s reverse mortgage division going back to 2015. Additionally, industry veteran Peter Sciandra will now serve as Fairway’s EVP of reverse operations and secondary marketing.
“Fairway is one of the most successful mortgage lenders in the country, and our LOs and operation staff know how to get the job done,” said Sciandra in a statement. “All we need to do is make it easy, create a path, and close well, and they will fill the pipeline accordingly. With a full pipeline, we can add more investors and keep pricing competitive.”
Cabe further elaborated on the broader mission of the reverse mortgage division under its new leadership, lauding the support that the division is receiving by executive leaders at the larger company.
“Fairway provides platforms – that’s what we do. With the platform that was built here, and the enhancements we are now bringing to it by collaborating with leaders in every part of the business, we aim to deliver the fastest, simplest, finest customer experience in the industry,” Cabe said. “We have the talent and the reach, and with the support of the Fairway Exec team, we have all the tools we need to reach that goal.”