HUB STAGE: Creative Uses for the Reverse Mortgage Product
With a challenging housing market, forward originators are looking to seize profitable opportunities that benefit borrowers and their bottom lines through products including reverse mortgages. Hear from industry leaders who have leveraged the Home Equity Conversion Mortgage (HECM) product to advance their traditional refinance business, capture new construction loan business, and use it as a default mitigation tool.
Speakers
Moderator
Bill Packer currently serves as the Chief Operating Officer for Longbridge Financial, one of the largest Reverse Mortgage providers in the nation offering both the FHA insured HECM product and its own proprietary product. Packer has direct responsibility for Servicing, Operations, including underwriting, Credit, Technology, Project Management, Strategic Initiatives and Vendor Management. Prior to joining Longbridge, he was the Chief Operating Officer and Board Member for American Financial Resources (AFR) as well as the Executive Vice President for AFR’s Technology Services division. Prior to joining AFR, he held a variety of leadership positions with Bank of America. Packer is active in the mortgage community including the former Chairperson of the Mortgage Bankers Association’s Residential Technology Committee and a member of several advisory boards including Snapdocs, Flatworld Mortgage Solutions, and Ice (EllieMae) Mortgage Technology.
Speakers
Jim Cory is a mortgage entrepreneur with 25 years of experience building successful, high growth companies in the reverse mortgage industry. As Managing Director - Reverse at Guild Mortgage Company, Jim is a leader of the company’s reverse mortgage division and is working to expand Guild Mortgage’s reverse presence. Jim has held a variety of senior leadership positions at several mortgage companies, including Cherry Creek Mortgage, Seattle Mortgage, and most notably, Fannie Mae. In 2008, he also founded Legacy Reverse Mortgage, a distinguished mortgage originator that he later successfully sold. Since 1998, Jim has been an active member of the National Reverse Mortgage Lenders Association and the Mortgage Bankers Association.
Michael Kent has served as President of Liberty Reverse Mortgage since April 2015. Before joining Liberty, Kent spent four years at Reverse Mortgage Solutions, Inc. (RMS) where he was President of Loan Originations. In addition to his reverse background, he has over 30 years of “forward” mortgage experience, and he has held leadership roles across various lending functions, including sales, operations, and secondary markets. He currently serves as Co-Chairman of the National Reverse Mortgage Lenders Association. Kent was born and raised in Chicago and attended Southern Illinois University, Carbondale. He has been involved in several not-for-profits working in the areas of homelessness, world hunger, and women’s cancer.
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