HUD issues Mortgagee Letter to remind mortgagees of HECM advisor limitations

1st Reverse Financial adds new CFOMortgagePress.com1st Reverse Financial Services, CFO, Wilmington Savings Fund Society, Dennis Thomas, Ralph Rosynek 1st Reverse Financial Services LLC (1st Reverse), a subsidiary of Wilmington Savings Fund Society, FSB (WSFS Bank), has announced the addition of Dennis Thomas to the senior management team as the company's new chief financial officer. In his new role, he will be responsible for all fiscal matters and reporting activities for 1st Reverse. "Earlier this month, 1st Reverse and WSFS Bank joined forces to expand 1st Reverse's existing reverse mortgage platform. Part of this expansion includes the addition of key individuals such as Dennis Thomas, to our senior management team," said Ralph Rosynek, president of 1st Reverse. Thomas, a CPA, brings over 30 years of experience to the 1st Reverse team. He was the Director of Internal Audit for the Federal Home Loan Bank of Chicago where he directed the Bank's audit staff in a wide variety of audits, including the Mortgage Partnership Finance (MFP), derivatives and hedging strategies. Prior to this, he served as the Regional Accountant for the Office of Thrift Supervision (OTS) and has spent time working with the Internal Revenue Service (IRS). He has also written guidance for thrift examiners and speaks on a variety of key issues to public accountants and financial institution executives. For more information, visit www.1stReverse.com.