Cherry Creek Mortgage, a nationwide, full-service mortgage lender, Ginnie Mae HMBS issuer and servicer of HECM reverse mortgages, has hired a new leadership team to expand the company’s reverse mortgage division.
Reverse mortgage executives Bruce Barnes and Jim Cory have joined Cherry Creek as managing directors of the reverse mortgage division. Under their leadership, the company intends on expanding its reverse mortgage presence in retail, wholesale and closed loan production.
“We are excited about the opportunity to advance Cherry Creek as a leading, retail, wholesale and closed loan purchaser of reverse mortgages,” says Barnes. “Together, Jim and I have built several successful reverse mortgage platforms and have been responsible for funding billions of dollars in reverse mortgage production. It is our plan to make the reverse mortgage division the best place to work and to become a leading lender in the reverse mortgage space.”
“We believe the company has an untapped opportunity to leverage our large retail team, joint ventures and other strategic initiatives to expand our reverse mortgage presence,” states Rick Seehausen, president and COO of Cherry Creek Mortgage. “With the recent strong rise in home price appreciation around the country and our ability to securitize and service the reverse product, it’s an opportune moment to showcase reverse mortgages, which can be a valuable tool for seniors.”