Genworth Financial Home Equity Access, Richmond, Va., a reverse mortgage lender once known as Liberty Reverse Mortgage, is expanding its wholesale lending operations.
It cited the increased number of companies (more than 1,300) that started a reverse mortgage lending program in 2008; most of those broker loans through a larger lender like Genworth.
Genworth also said recent changes at other wholesale reverse mortgage lenders have shown a need for additional capacity.
The company has created an inside sales division to build relationship with new reverse mortgage lenders. It will be headed up by Bob Marseilles, national wholesale manager; most recently he was with Financial Freedom.
Genworth has also hired four regional account managers to work with mortgage brokers on the east coast. They are: Barbara Chearney, who covers Maryland, Virginia and the District of Columbia; Gina Monopoli, New Jersey and Southern Pennsylvania; Kirk O'Connor, New England; and Tim Frederick, Alabama, Eastern Florida and Georgia.