A New Horizon: Smartfi Home Loans Ventures into Reverse Mortgages Retail
Smartfi Home Loans, a prominent San Diego-based wholesale lender in the reverse mortgage sector, is charting new territory with the launch of its retail division offering reverse mortgage products. The company has welcomed industry veteran Paul Fiore as the President of Retail Sales to lead this exciting new venture.
Embracing Change and Opportunities
Fiore, previously associated with Finance of America (FOA) post the acquisition of American Advisors Group (AAG), sees this as a golden opportunity to forge a retail division from scratch within the reverse mortgage domain. In a recent interview with HousingWire’s Reverse Mortgage Daily (RMD), Fiore expressed his enthusiasm for this fresh start with Smartfi Home Loans.
Embarking on a New Journey
Paul Fiore reflects on the sense of limitless possibilities that came after parting ways with FOA. The decision to stay committed to the reverse mortgage industry transpired naturally as he embarked on his quest for a new challenge. His alignment with Smartfi’s vision and values made it evident early on that this was the right fit for him.
Building the Foundation
Transitioning into his role as President of Retail Sales on July 29, Fiore is tasked with setting up a retail division from the ground up. While Smartfi currently operates solely as a reverse wholesale lender, establishing synergy between the existing wholesale channel and the upcoming retail channel is vital. Fiore emphasizes the importance of anticipating market trends and borrower preferences to tailor the new division effectively.
Catalyzing Innovation
In a rapidly evolving landscape, understanding the changing needs of borrowers and adapting to industry shifts is key. Fiore underscores the significance of crafting a retail platform that aligns harmoniously with market dynamics while catering to modern borrower preferences.
Pioneering a New Vision
Excited about pioneering a novel division reminiscent of his early days at AAG, Fiore emphasizes the importance of a meticulous infrastructure evaluation before expanding the team with loan officers. Deliberate planning and strategic implementation take precedence over rushed hiring, ensuring a solid foundation for the retail division’s growth.
Fostering Collaboration
Reuniting with former AAG colleague Kim Smith, Smartfi’s Senior Vice President of Wholesale Lending, Fiore is optimistic about leveraging established partnerships to bolster the new retail division. Collaborative efforts and shared expertise will undoubtedly fuel the division’s progression.
Toward Collective Success
Fiore’s optimism extends beyond Smartfi’s endeavors, as he envisions a thriving ecosystem in the reverse mortgage industry. Welcoming new players and encouraging existing ones to innovate ensures a vibrant marketplace benefiting both clients and industry professionals.
Unified by a shared passion for the industry and unwavering support for his peers, Fiore stands as a beacon of optimism and progress. As Smartfi Home Loans ventures into uncharted territories, Fiore’s leadership marks an exciting chapter in the reverse mortgage space.
Leave feedback about this