1st Reverse Mortgage USA Promotes Scheiern to Director

1st Reverse Mortgage USA this week promoted Steve Scheiern to director of reverse mortgage business development.  Scheiern, who previously served as the Lakewood, Colo.-based lender’s national retail sales manager, will continue to oversee the retail division while also helping to develop parent company Cherry Creek Mortgage Company’s presence in the reverse space.  “In my new […]

New Guidance Releases HECM-for-Purchase Market Handcuffs

In what’s been a recurring theme this year, the announcement from the Federal Housing Administration took reverse mortgage professionals by surprise: Lenders could now take applications for new-construction loans prior to the receipt of a certificate of occupancy. It’s an issue that has bedeviled proponents of the Home Equity Conversion Mortgage for Purchase program for […]

1st Reverse Mortgage USA Builds on H4P Growth Plan

While many lenders have tried to tap into the reverse mortgage “sleeping giant,” a select few have actually succeeded in a calculated effort to grow HECM for Purchase business.  Cherry Creek Mortgage’s reverse mortgage division, 1st Reverse Mortgage USA, is one of those lenders. The Lakewood, Colorado-based company now generates about 20% of its Home […]

1st Reverse Mortgage USA Hires Todd Zurik in Houston

1st Reverse Mortgage USA recently hired Todd Zurik as a senior loan consultant in its Houston office. The Houston-area native and graduate of Stephen F. Austin State University in Nacogdoches, Texas has previously worked as a retail lending branch manager, wholesale lending account manager, and a foreclosure liquidator during his more than 30 years in […]

How Reverse Mortgage Marketing Must Speak to the ‘Forward’ Business

Generally, someone who is looking for a conventional mortgage is not necessarily interested in a reverse mortgage, but getting the information into the “forward” space is especially important to further educate the public as well as traditional loan officers about reverse mortgages, according to industry marketing experts. The number one hurdle is still education, Tim Harder, vice president of business development at 1st Reverse […]