Maverick Funding Opens Reverse-Mortgage Subsidiary

Maverick Funding Opens Reverse-Mortgage Subsidiary Maverick Funding Corp., based in Parsippany, N.J., has launched a new subsidiary, Reverse Mortgage Network.

According to the company, the new subsidiary is licensed to market reverse mortgages in 22 states. Maverick Funding Corp. has hired 22 loan officers from Wells Fargo's now-defunct reverse mortgage business to run this new endeavor.

‘We see this as an opportunity to serve a segment of the population that, in many cases, is underserved, particularly in today's difficult economic climate,’ says Ralph Vitiello, CEO of Maverick Funding Corp.

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