Three well-known mortgage professionals have announced the launch of the 1st Reverse Mortgage Store in Oak Brook, Ill., which will be devoted exclusively to supplying reverse mortgage loan products and services.The managing partners of the office are David J. Cesario, Ralph E. Rosynek Jr., and Terry R. Bivins. Mr. Cesario was most recently senior managing partner and co-owner of 1st Metropolitan Mortgage Co., and he was previously national director of training for RBC Mortgage Corp. Mr. Rosynek is a former owner and president of Margo Financial Services LLV (a division of Argo Federal Savings Bank) and of Shoreline Bancorp LLC. Mr. Bivins was most recently a national sales manager in wholesale lending, and he founded a retail mortgage origination company, Ficus Financial Services Inc., in 1983 and co-founded a wholesale lending company, EQ Financial, in 1992. The new reverse mortgage company can be found online at http://www.1streverse.com.
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Mike Kortas is looking to keep loan officers in the loop through the entire mortgage loan customer lifecycle and beyond, with the launch of evoLend.
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A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
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Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
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The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
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