Member News Who’s Who in Reverse Mortgages Ellington Financial Acquires Controlling Interest in Longbridge Financial Ellington Financial Inc., a real estate investment trust investing in a diverse array of financial assets, including residential and commercial mortgage loans, entered into a definitive agreement to purchase an additional 49.6 percent ownership interest in Longbridge Financial from Home Point Capital Inc. for approximately $75 million. Following the closing of the transaction, Ellington Financial, which has been an investor in Longbridge since 2014, will hold substantially all of Longbridge’s equity. “We are incredibly excited that Ellington Financial has increased its commitment to Longbridge—a testament not only to the growth and strength of our company, but also to the opportunities ahead in the reverse mortgage industry,” Longbridge CEO Chris Mayer says. The transaction is anticipated to close in the second quarter of 2022, subject to customary closing conditions, including regulatory approvals. Constellation Mortgage Solutions Acquires ReverseVision Constellation Mortgage Solutions Inc., a portfolio of market-leading financial technology solutions in the mortgage space, acquired ReverseVision Inc., in San Diego, CA. The acquisition includes ReverseVision’s core platform, ReverseVision Exchange; RVDOC Composer, which provides customized and compliant reverse mortgage documents; and ReverseVision Sales Accelerator, which includes advanced loan modeling and comparison tools. “The ReverseVision team is excited to join Constellation Mortgage Solutions and looks forward to the next chapter of the ReverseVision story under Constellation’s stewardship,” says Joe Langner, former CEO and president of ReverseVision. Robinson Becomes AAG President and COO American Advisors Group (AAG) announced that Ed Robinson has formally taken over as president and chief operating officer after serving in both roles in an acting capacity since August 2021. The move is the latest phase in a series of high-profile leadership acquisitions as part of AAG’s 2022 growth and expansion plan. Robinson, a seasoned mortgage industry executive and U.S. Army veteran, will be responsible for the day-to-day operations of AAG, including managing the profit and loss and key initiatives focused on optimizing the customer experience. Mid America Adds Talmadge as Western Sales Manager Jarred Talmadge has joined Mid America Mortgage as Western reverse mortgage sales manager. Talmadge will be responsible for expanding Mid America’s reverse mortgage presence in the Western U.S. Talmadge brings more than 25 years of mortgage industry experience and has spent the last three years specifically focused on reverse mortgages. Talmadge joins Mid America from American Advisors Group, where he was market sales manager for the Rocky Mountain region. In addition to being an industry veteran, Talmadge is an author and instructor, offering real estate agents, loan officers and financial planners courses in sales, marketing and reverse mortgages. Harkless Becomes Chief Revenue Officer at Open Mortgage Open Mortgage has named Scott Harkless to the newly created position of chief revenue officer. Harkless will report directly to Open Mortgage President Joe Stephenson in this role on the senior leadership team, overseeing all sales functions within the company, including wholesale and retail in both the reverse and forward divisions. Formerly a civil litigator, Harkless joined Countrywide Home Loans’ strategic alliance division in 2006. After Bank of America acquired Countrywide in 2008, Harkless led its business-to-business platforms as the executive sales leader. In 2018, Harkless joined American Advisors Group and served as both the East divisional sales executive, driving traditional and reverse mortgage production from Utah to the Eastern seaboard, and later as the vice president for enterprise partnerships. Pahel Joins PRMI As Retail Production Manager Primary Residential Mortgage Inc. added Greg Pahel as retail production manager overseeing consumer direct reverse mortgage production. In addition to originating loans, Pahel will coach, lead, provide sales support and mentor the division’s sales force while overseeing and maximizing their production. He also will help recruit and manage new loan originators and teams nationwide under the Sless Group umbrella, oversee local hiring and manage a team of loan originators in Phoenix, AZ, where he is based. Pahel most recently served as senior vice president of consumer direct sales with the Federal Savings Bank. He previously was Home Equity Conversion Mortgage (HECM) division president/executive vice president of HECM CD sales at Paramount Residential Mortgage Group and consumer direct sales channel leader at American Advisors Group. 34 REVERSE MORTGAGE / MAY- JUNE 2022
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