Cherry Creek Expands Its Reverse Mortgage Channel – NMP Skip to main content

Cherry Creek Expands Its Reverse Mortgage Channel

Navi Persaud
Nov 02, 2021

Cherry Creek Mortgage announced the hire of a new leadership team to expand the company's reverse mortgage division.

Bruce Barnes and Jim Cory joined Cherry Creek as managing directors of the reverse mortgage division. Under their leadership, the company intends on expanding its reverse presence in retail, wholesale, and closed loan production.

“Together, Jim and I have built several successful reverse mortgage platforms and have been responsible for funding billions of dollars in reverse mortgage production. It is our plan to make the reverse mortgage division the best place to work and to become a leading lender in the reverse mortgage space,” said Barnes.

“We believe the company has an untapped opportunity to leverage our large retail team, joint ventures, and other strategic initiatives to expand our reverse mortgage presence,” said Rick Seehausen, president and chief operating officer of Cherry Creek Mortgage. “With the recent strong rise in home price appreciation around the country and our ability to securitize and service the reverse product, it’s an opportune moment to showcase reverse mortgages, which can be a valuable tool for seniors.”

Cherry Creek is headquartered in Colorado and is licensed in 38 states, including Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia, Wisconsin, Wyoming.

Published
Nov 02, 2021
More from
Reverse
Finance Of America Reverse Updates Its Brand Assets

Finance of America Reverse announced the launch of its updated brand assets with what the company says, “reflects its modern identity and impactful relationships with customers.”

Reverse
Nov 12, 2021
HECM Endorsements Are Moving On Up

Reverse Mortgage Insights' latest report showed a 16.3% (5,029 loans) jump in HECM endorsements in Oct. 2021.

Reverse
Nov 03, 2021
Opportunities In Reverse 

For seniors who still have a mortgage, 40% are looking to use the equity they’ve built to eliminate their monthly payment. 

Reverse
Oct 19, 2021
HECM Endorsements Plummet More Than 14 Percent

Home equity conversion mortgage endorsements plummeted 14.3% in August 2021 to 3,679 loans.

Reverse
Sep 14, 2021
Reverse Mortgages Aren't Expanding Into Broader Mortgage Business

The reverse mortgage sector has remained strong accounting for more than 4,000 loans a month, according to Reverse Mortgage Daily, however, growing the business further has been on the back burner.

Reverse
Jul 28, 2021
FHA Adds COVID-19 Recovery Options For Forward And Reverse Borrowers

The Federal Housing Administration announced additional COVID-19 recovery options to help both forward and reverse homeowners who are facing hardships as a result of the pandemic.

FHA
Jul 26, 2021