Sarah Hulbert, a 16-year veteran of the reverse mortgage banking industry and former chairwoman of the National Reverse Mortgage Lenders Association (NRMLA) Board of Directors has been named president of Senior Financial Corporation (SFC), as announced Monday, April 23 by Shad M. Derifield, chief executive officer and chairman of SFC. Hulbert will lead a team of industry experts in the expansion of SFC into a nationwide leader of reverse mortgage retail banking.
"We are very excited that we have been able to acquire Hulbert and feel, with her expertise and solid reputation, we will be able to secure the top 10 reverse mortgage lender status by 2009," said Derifield.
The Rocklin, California-based SFC has been expanding throughout the country since its inception in 2006, currently operating in eight states, with plans to expand into all major markets by the end of 2009.
Hulbert brings with her a proven track record of building successful reverse mortgage organizations. She most recently was senior vice president and director of wholesale operations for EverBank Reverse Mortgage LLC (recently acquired by Met Life). Prior to joining EverBank, she was senior vice president and national director of Seattle Mortgage's Reverse Mortgage Division, which has since been acquired by Bank of America.
A renowned speaker and published author, Hulbert has served on the National Reverse Mortgage Lenders Association's Board of Directors since 2000, serving as co-chairperson from 2003 to 2006, and as chairwoman ex-officio since January 2007. Additionally, she currently serves as co-chair of NRMLAs Standards and Ethics Committee.
2008 marks the first group of Baby Boomers who are turning 62, the minimum required age to qualify for a reverse mortgage. As such, many investors are paying close attention to reverse mortgages as an industry that is poised for significant growth--10,000 individuals reach the age of 62 every day, with projections demonstrating there will be 80,000,000 homeowners eligible for a reverse mortgage within the next 10 years.
For more information, www.sfcreverse.com.