We had mentioned in an earlier episode that we expected to see HUD bring futher clarification to the new Non Borrowing Spouse policy. Last week however we have a new twist. The Ineligible Non-Borrowing Spouse.
Continue readingSkipping Vacation May Cost You
How often have each of us said ‘I can’t afford to take one right now’ or ‘ I cannot afford the time? When many of us are scrambling to keep up with nonstop changes to the HECM program and challenges in reaching our market a vacation may seem to be a luxury we cannot afford. But is that true?
Continue readingRetired – Or Retooled?
Today’s retirees can retire and retool, in any number of ways. If they haven’t yet done so, it’s helpful for those approaching or in retirement to take a long look at how they might use their skills and experience for others’ benefit — or to enhance their own later years.
Continue readingRetirement Funding Solutions Enters Reverse Mortgage Industry
Retirement Funding Solutions Enters Reverse Mortgage Industry
Former Executive from Security One Lending Looks to Grow
San Diego, Calif., January 13, 2015—Retirement Funding Solutions (RFS), a Division of Synergy One Lending, announced today that it has entered the reverse mortgage business and plans to expand its San Diego Fulfillment Center in the first quarter of 2015. Its business will be built through three different distribution channels: Distributed Retail, Consumer Direct and Third Party Originations.
“Our sales force will be made up of some of the best professionals in the industry, all of whom are committed to the financial well-being of the senior homeowner,” said Torrey Larsen, President of Synergy One Lending. “We will leverage the team’s collective knowledge and experience to deliver the best possible service and value proposition to our customers.”
Unlike other reverse mortgage lenders, Retirement Funding does not have legacy asset risk, which can negatively impact the financial stability required to grow a strong, stable enterprise. Many existing GNMA Issuers are dealing with write downs from its servicing unit and better realize the risk and costs associated with their servicing practices.
“The headwinds of lower industry volume levels and the implementation of financial assessment make it an opportune time to establish a new way of creating business. The recent program changes have improved long term sustainability of the HECM program, so we look forward to building in this industry again. It is our belief that industry consolidation will continue in 2015, but a few strategically designed firms will expand market share in a meaningful way,” Larsen continued.
During Larsen’s tenure at Security One Lending, the firm grew from a 4 person start-up to the leading HECM Originator in the nation. The success of Security One Lending stemmed from both the TEAM of people that built the Firm and the Core Values by which the Firm operated. This confluence created a unique company culture that many large bureaucracies underestimate and/or ignore.
RFS is looking to grow its San Diego-based Operations Staff and is looking for the very best talent in both its Originations Team and its Marketing Department. For more information about employment opportunities or to apply please visit www.rfslends.com
About RFS
Retirement Funding Solutions is an operating Division of Synergy One Lending and currently lends in 8 states with license applications pending in 12 additional states. The firm offers a diversified mix of reverse and forward products through a variety of distribution channels, including retail, consumer direct, and wholesale to support its lending efforts. Synergy One Lending is a FHA and VA Approved Lender and is based in San Diego, Calif.
For more information on Synergy One Lending, visit www.s1lending.com. For more information on Retirement Funding Solutions, visit at www.rfslends.com
What Does 2015 Hold for Us?
“My best predictions are always for the past” one said and I couldn’t agree more. I am hesitant when it comes to predictions but here are a few we will venture to make for 2015.
Continue readingBefore the Damage is Done
We’ve all read or seen them and utter a collective ‘ugh’ or fume after the fact. Negative and misinformed stories in the press or television on reverse mortgages. Looking back and reflecting on this unfortunate and recurring ignorance by so-called experts I began to ask myself ‘what could we have done differently’?
Continue readingMarketing Psychology: Brand Aid for Brand Y-O-U
With the explosion of the Internet and, more recently, social media, being branded is no longer the purview of cattle. In fact, if you don’t clearly define your brand, you might resemble another farm animal: sheep.
Continue readingFox Business on Reverse: Neither Fair or Balanced
Last week Fox Business posted an article entitled “10 Reasons Not to Take Out a Reverse Mortgage” . Everyone loves a top ten list and one would think such a list from a well known business site would be rooted in truth. Unfortunately Fox’s post is neither fair or balanced…
Continue readingWhy New Year’s Resolutions Don’t Work
New Year’s resolutions rarely stick. In fact they may be sabotaging your goals. Why resolutions are not a good idea and rather…
Continue readingThe Year in Review: Top Stories from 2014
During the past year the reverse mortgage industry has experienced drastic change. Our top stories for 2014 highlight the addition of new HECM Products, the Extreme Summit, the revised Principal Limit Factor tables and the inclusion of non-borrowing spouses, the HECM Financial Assessment, the impacts of double digit interest rates, and how a reverse mortgage fits into modern retirement planning.
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