360 Mortgage launches reverse division

by Ryan Smith15 Apr 2014
360 Mortgage Group has launched a new reverse mortgage division.

The company’s on-demand reverse processing platform will allow originators to remain fully compliant while increasing their customer base. 360 Mortgage Group will also be originating reverse mortgages through its own retail channel. The company has tapped reverse mortgage industry veteran Mike Suits as the division manager of 360 Mortgage Reverse.

 “Part of 360 Mortgage group’s strategy is to take advantage of growth opportunities in an assertive manner where and when opportunities present themselves.  We have been researching entering the reverse lending market for the last few years, and our timing was accelerated when Mike Suits became available,” said Mark Greco, president and founder of 360 Mortgage Group. “Mike’s character, leadership ability and extensive reverse market and product knowledge makes him the perfect addition to our team.”

Suits brings more than 12 years of industry experience to 360 Mortgage. Most recently, he was president of Reverse Mortgage USA, where he developed and launched the company’s wholesale division and re-created and restructured its branch division. Previously, Suits held positions with Urban Financial Group, Genworth Home Equity Access and MetLife Bank.

“360 Mortgage Group is known throughout the mortgage industry for superior technology and its ability to create strong partnerships by providing exceptional service to originators throughout the US,” Suits said. “Our goal in the reverse mortgage division will be to capitalize on the market share already available through the great relationships that 360 Mortgage Group has developed over the years by leveraging out team’s significant experience in the reverse mortgage industry.”



Is TILA-RESPA a good or bad thing long term?