Michigan-based University Bank announced this week the promotion of one longtime professional and the appointment of another. Carol Dujanovich will now serve the division as SVP and director of reverse mortgages, while Doug Ziegler has been hired to serve as the reverse division’s national production manager.
Dujanovich recently served in the University Bank reverse division — previously known as 1st Nations Reverse Mortgage — as VP of operations. She has also served as a member of the Federal Housing Counseling Advisory Committee within the U.S. Department of Housing and Urban Development (HUD) as a reverse mortgage industry representative.
“This promotion is a testament to Carol’s exceptional leadership skills, dedication, and outstanding contributions to our company over the years,” the company said of her promotion. “All aspects of sales and operations will report to Carol. [She] has consistently demonstrated leadership, innovation and teamwork.”
Doug Ziegler previously served for over 18 years as a professional with Finance of America, beginning work with reverse mortgages in 2005.
“Doug brings a proven record of sales management success in the reverse mortgage sector,” the company said of his appointment. “With over 18 years of expertise, he has navigated the complexities of the industry and consistently delivered outstanding results.”
The company also alluded to future refinements to its reverse mortgage division under the duo’s leadership.
In 2017, Home Point Financial sold its own reverse mortgage lending arm to Michigan-based Huron Valley Financial, which folded the former Home Point reverse division into its own 1st Nations Reverse Mortgage arm. Subsequently, the 1st Nations Reverse team was hired by University Bank’s subsidiary, Midwest Loan Solutions, Inc. as part of a deal with Huron Valley Financial in 2019.
According to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), University Bank ranks at no. 27 on the list of the top 100 industry lenders in calendar year 2023. Like a large portion of the business, California is its most active state for originations.