Celink to Subservice $900M Financial Freedom Reverse Mortgage Portfolio

Celink will subservice the Financial Freedom reverse mortgage portfolio being sold by CIT Group (NYSE: CIT) and will transfer Financial Freedom staff to become Celink employees, sources have confirmed to RMD. The loan portfolio, comprising roughly $900 million in unpaid principal balance, is being sold by CIT Group for an undisclosed sum, as specified in a purchase […]

Moody’s Rates Celink ‘Above Average’ Reverse Mortgage Servicer

Celink, the nation’s largest private-label sub-servicer of Home Equity Conversion Mortgages (HECMs), recently received an “above average” rating from Moody’s Investors Service. The Moody’s assessment of “SQ2” is based on Celink’s “above average” servicing abilities and “below average” servicing stability. The SQ represents Moody’s view of a servicer’s ability to prevent or mitigate asset pool […]

Celink Welcomes New Chief Financial Officer

National reverse mortgage subservicer Celink is welcoming a finance veteran to its team to serve as Chief Financial Officer, the company announced Monday. Ronda McCoy brings 20 years of financial and accounting experience to the CFO position, having served in positions of increasing responsibility at a large financial institution and the public accounting industry. McCoy is a CPA […]

California Pilots Program to Cure Reverse Mortgage Defaults

Perhaps one of the biggest draws for reverse mortgages over other home equity loans is its lack of a monthly loan payment. However, reverse mortgage borrowers must still remain current on their property charges, including taxes and insurance — often a source of stress for some low- to moderate-income seniors who are struggling to cover […]

S&P Affirms Above Average Servicer Rating for Celink

National reverse mortgage subservicer Celink today announced it has affirmed an “Above Average” rating from Standard & Poors—the world’s largest index provider and global source of independent credit rankings.  In its full report on Celink, which is yet to be made public, S&P pointed to several qualities maintained by the subservicer including ability to increase […]

Celink Announces New Hires to Compliance, IT Teams

National reverse mortgage subservicer Celink announced this week it is growing its compliance and information technology teams with new hires. The company has hired Debra Taylor as compliance Officer and Becky Cotter to serve as project manager in Celink’s IT department.  As a compliance officer, Taylor will oversee Celink’s state licensing, will manage internal quality […]

LaRose Named Rising Star by HW Magazine

As part of HousingWire’s feature about rising star’s in the mortgage industry, Ryan LaRose, Chief Operating Officer for Celink, was named as the only reverse mortgage professional. “Our editors sought to recognize young industry professionals who are already leading in their respective fields. Our awards don’t just recognize future potential, we wanted to spotlight those […]

Reverse Mortgage Subservicer Celink Acquired with Plans to Grow

Reverse mortgage subservicer Celink has been acquired by investment group Peer Advisors, with growth plans ahead for the company.  The Peer Advisors team, led by Jim Mahoney, Jason McNamara and Al Benedetti, completed the acquisition through private equity investment from Santa Monica, Calif.-based Clearlake Capital Group. Peer Advisors says it plans to grow the organization.  […]

Celink Goes to Chicago Marathon in Veteran Support

Reverse mortgage subservicer Celink went to Chicago last weekend to show support for a team of veterans participating in the 26.2-mile race.  As a sponsor of the Wounded Warriors of the Achilles Freedom Team that competed on Sunday October 7, Celink CEO John LaRose and his wife, Tara, headed to the finish line to greet […]