360 Mortgage Group, a privately owned mortgage banker with a focus on third-party origination, has expanded its reverse mortgage division by launching a retail branch model to support reverse mortgage production throughout the U.S.
This new model, the division's third production channel for the reverse mortgage market, will supplement its wholesale and inside-direct sales channels, says the company.
360 Mortgage first announced in April that it was opening this division.
As a first step in its national expansion plans, the reverse division has opened its first branch in Dallas and currently has additional retail branches pending in seven other states. In conjunction, the company has named Nancy Pedone, who has more than 16 years of experience in the mortgage industry, national reverse branch manager of its reverse division.
Most recently, Pedone served as national sales manager for retail at reverse mortgage lender American Advisors Group. She was also national sales manager, responsible for the growth and development of the reverse division, at Network Funding. In addition, she was vice president, regional sales executive at Security One Lending and has also held roles at MetLife Home Loans, Countrywide Bank/Bank of America and Homestead Funding.