Ohio-based TotalChoice Mortgage has decided to jump into the Home Equity Conversion Mortgage business. Along with the announcement last week, the company also hired new personnel to add to an existing reverse mortgage team, according to a recent report.
"To help facilitate their entry into the reverse mortgage business, TotalChoice announced the hiring of David Weinstein, area sales manager for the Five Point Lending team to oversee HECM loan origination for TotalChoice’s new, dedicated reverse mortgage division," according to Reverse Mortgage Daily.
Weinstein brings seven years of experience in the HECM field and stated that he was passionate about the core values of the product.
"The opportunity to serve the HECM clientele, the referral partners we work with every day, and most importantly the positive effect this product has on the families continues to drive me forward," said Weinstein, according to RMD.
TotalChoice Mortgage is choosing a path that is a bit in the opposite direction of some companies. Many reverse mortgage companies have been training their personnel to handle forward products as well.
Though, the grand plan in both situations remains the same. Diversification has been an active trend in 4Q 2018 and 1Q 2019.
To learn more about TotalChoice Mortgage's plan moving forward, click on the image above.