Bloomfield, N.J.-based leading reverse mortgage lender Reverse Mortgage Funding, LLC (RMF) announced this week that it had obtained certification from Great Place to Work, an organization that has produced the annual FORTUNE 100 Best Companies to Work For list for over 20 years. The certification comes after the company has remade much of its employee engagement practices as a result of the COVID-19 coronavirus pandemic, having gone entirely remote in 2020.
“Great Place to Work Certification isn’t something that comes easily – it takes ongoing dedication to the employee experience,” said Sarah Lewis-Kulin, VP of global recognition at Great Place to Work in the announcement of RMF’s certification. “It’s the only official recognition determined by employees’ real-time reports of their company culture. Earning this designation means that RMF is one of the best companies to work for in the country.”
As a part of its transition to become a remote workplace, RMF invested in facilitating new ways to engage with its workforce while also providing a sense of community for employees, the company said.
“The company launched an employee experience intranet site that provides opportunities for fostering culture through sharing news, posting promotions and sending birthday and work anniversary wishes,” the company explained in the announcement. “This site is key to offering the human touch aspect that was once more easily accessible in person. Additionally, RMF has invested in enhancing its employee learning and development platforms, including an internal podcast, webinars, virtual and in-person trainings and video learning.”
RMF President David Peskin called the certification an honor, and praised the company’s employees.
“We are proud to cultivate an environment where all employees are valued and set up for success,” Peskin said. “Our incredible team of professionals are dedicated to creating a strong workplace culture where everyone is recognized for their contributions. […] We know that cultivating an exceptional workplace culture is a win for the employee, the company and the customer. At RMF, strong employee experiences improve the overall customer experience.”
RMF is the number two lender in the reverse mortgage industry based on Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI). It maintained its position in the second slot for the full calendar year 2021, totaling 5,355 loans during that time and growing volume by 30% over levels seen in 2020.
Earlier this year, RMF acquired a portfolio of reverse mortgage servicing rights from American Advisors Group (AAG), consisting of over 75,000 loans and totaling $12.1 billion in unpaid principal balance (UPB). Last September, the company became the first in the American reverse mortgage industry to serve borrowers under the age of 60 by lowering the minimum qualifying age of its Equity Elite proprietary reverse mortgage product catalog to 55.