MADISON, WI., January 30, 2023 – Fairway Independent Mortgage Corp., one of the nation's largest lenders, today announced the next step in the evolution of Reverse Mortgages for its extensive network of originators. Fairway plans to invest unprecedented resources in their Reverse Mortgage channel.
A key focus is decentralizing operations, moving away from the strongly centralized model which had previously been in place. To drive this initiative, Fairway is launching a new Reverse Advisory Council, comprised of top leadership from Sales, Operations, and Support, to lead on Reverse Mortgage production.
Branches will also benefit from increased regionalized support service across the entire network, focusing on fast response at every level. National Sales Support Director Mike Daryanani looks forward to driving the new model: "Seeing how professional and knowledgeable the Fairway loan officers are, I've always known that we were on another level. We're ready to serve a new phase of Reverse assisting both loan officers and our senior homeowners. The changes we're implementing are all about making the experience for Reverse borrowers faster and easier."
Tane Cabe, National Director of the HECM for Purchase Program, also expressed excitement about the new direction. "Fairway has the culture, experience, and tenacity to lead the Reverse Mortgage space. This next season for us will be one of serving our borrowers beyond expectations. Fairway has always been a leader in the "forward" purchase market through its national network of knowledgeable loan officers. Fairway is the company to lead the charge in Reverse Mortgages, changing the lives of retirees throughout the nation."
According to RMI data for 2022, Fairway was the #3 Retail Reverse Mortgage lender in the country, and #1 in HECM for Purchase. Peter Sciandra, VP of Secondary Marketing for Reverse, is looking to 2023 and beyond: "Combining experienced Reverse Mortgage professionals with the excellence of Fairway's retail platform has always been our path towards mainstreaming the Reverse Mortgage. With this infusion of both financial and sweat equity, Fairway has its sights set not only on #1 in the industry, but bringing Reverse Mortgages to an entirely new audience."
Fairway COO Len Krupinski agreed that Fairway always grows by staying true to their roots. "Removing silos from the business and leading from the street has helped us become the #3 purchase lender in the country and close over $42 Billion last year in a challenging market – now we bring that practical approach to Reverse in a big way."
Steve Jacobson, CEO of Fairway concluded "We've built an amazing Reverse platform at Fairway with some excellent leaders, and it is time to take that platform to the next level with more speed and improved processes and communication. That's what our sales team and our customers deserve, so we're making it happen. Fairway gives these opportunities for growing platforms – it's part of what makes Fairway who we are, and it's time for our Reverse Mortgage platform to really expand so we can continue to help and serve families."
About Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation (NMLS #2289) is a full-service mortgage lender with a wide array of innovative products that help make homeownership more affordable with the speed and service its clients deserve. Based in Madison, WI, Fairway is dedicated to finding great mortgage options and providing some of the fastest turn times for its borrowers. We strive to exceed expectations, guarantee satisfaction and earn trust. For more information, visit fairway.com.