Celebrate 15 years of putting Reverse clients first with
Mark Reeve, Vice President, Reverse Mortgage Division
January 2023 marks the 15th anniversary of the Reverse Mortgage business at Plaza Home Mortgage®. To this day, Plaza is the only third-party originator with a Reverse lending channel that doesn’t compete with its clients by also having a traditional retail team.
From the beginning, Plaza has always had robust training and educational campaigns to ensure our originators are assisting their senior borrowers and their advisors properly. Our strong support process allows our clients to become more comfortable with what is often perceived as a too complicated product: reverse mortgages. Our strong belief in education and program knowledge won’t ever change.
In my opinion, there are three things that have set Plaza apart in the reverse mortgage space over the past 15 years. The first is our commitment to our clients and their senior borrowers. Dedication to the senior client is our number-one responsibility. The second is the deep experience and tenure of our reverse mortgage team. The longevity and dedication of many of our reverse mortgage team associates is deeply gratifying. There would be no reverse division without their commitment and hard work!
Finally, Plaza has continued to be financially stable, and this has enabled the Reverse Division to be a dependable source of liquidity and stability for current production and our servicing portfolio.
Looking back on the last 15 years, I've never been more optimistic about our reverse program than I am now. Clearly our country, economy and industry are going through some tough times. The current economic environment is prompting many seniors with high levels of equity to revisit this unique program. Seniors and their financial advisors are coming to understand that the equity that they have built up over years can be utilized to provide much needed relief and support. Reverse mortgage lending is a game changer for many enabling them to stay in their home and live out their lives more comfortably.
It’s a great time to be in the reverse lending business. I personally want to thank our loyal clients and partners who have put their confidence in us over the last 15 years. Trusting Plaza and our reverse mortgage team is something we do not take lightly, and we accept this incredible responsibility with the utmost gratitude and humility.
Here’s looking ahead to the next 15 years together!
All the best,