Reverse Mortgage Solutions (RMS) announced Monday it’s moving aggressively to expand its business into other areas of the reverse mortgage industry.
Formed in 2007 as a provider of loan servicing and private-label subservicing technology for reverse mortgage products, RMS will enter into the origination side of the business through a new retail call center and correspondent channel. In addition, the company has added new asset management capabilities for performing and non-performing forward mortgages and REOs.
“Our corporate objective remains the same: To be a dominant force in all aspects of mortgage lending and servicing. This is another, giant step in achieving that goal,” said Robert D. Yeary, Chief Executive Officer.
To launch the retail platform, the company has built a call center at its Spring, Texas, headquarters to drive leads to its outside sales force. In addition, it has entered into several exclusive lead generation contracts to quickly scale up the operation as their origination sales force grows, said RMS. Leading the lending division is Michael Kent, who will work with new hires Gary Bauch, Senior Vice President, National Sales Executive; and Vice President-regional sales, Audra Pickens. Pickens brings with her more than a dozen former Bank of America personnel.
To run the correspondent channel, RMS has hired Ralph Rosynek, formerly of 1st Reverse Financial Services, to serve as Vice President, National Correspondent Production Manager. Ellie Johnson, who joins RMS from Vertical Lend, Inc/World Alliance Financial, will build out its correspondent fufillment center in Atlanta, Ga., as Vice President.
H. Marc Helm, President and Chief Operating Officer, RMS, said the company’s “vibrant growth within our existing markets and entry into new ones will deepen our industry presence and provide cross-sector opportunities from forward and reverse originations to servicing to securitizations.
Upon the announcement, RMS also hinted at more “industry shaking rollouts” in the coming weeks and months.
Written by Elizabeth Ecker