San Diego, CA (PressExposure) August 04, 2011 -- At Legacy Reverse Mortgage, a professional relationship comes full circle between CEO Jim Cory and reverse mortgage specialist Ken Keranen.
Legacy Reverse Mortgage, a San Diego-based reverse mortgage lender, is proud to announce the addition of industry veteran Kenneth A. Keranen to the company's team. Interestingly, the appointment of Keranen as the company's specialist for its northwestern market comes 13 years after Legacy CEO Jim Cory first met Keranen, who became Cory's boss and mentor.
Keranen got his start in the field at a time when the reverse mortgage industry was still relatively young and operated largely below the national radar. In 1993, Keranen joined ARCS Mortgage in Bellevue, Washington, as their first full time reverse mortgage loan officer. Within two years, the company had closed on more than 200 reverse mortgage loans.
That was in 1993, a time when notevery state in the U.S. supported the Home Equity Conversion Mortgage, or reverse mortgage, as was the case in Arkansas, South Dakota, and Texas.
Keranen left ARCS in 1995 to start from the ground up the reverse mortgage origination arm at Seattle Mortgage Company, a Washington community-focused, local mortgage lender. Having applied his technical skills and training from college and his time with the U.S. Navy, Keranen oversaw the design and implementation of a unique reverse mortgage management software application and the management of ARCS's growing retail operation.
It was at Seattle Mortgage that Keranen first met Cory, having hired him on as a junior loan officer.
Having graduated Maxima Cum Laude with a Bachelor of Business Studies from the University of Portland, and subsequently studying at Portland State University for his Masters of Business Administration, Keranen brings a great deal of theoretical business knowledge, in addition to his practical experience and skills, to Legacy.
After working a number of integral positions building and managing branches and product pipelines with seasoned reverse mortgage companies all over the U.S., Keranen's last held post was with HomeServices Lending, a division of Wells Fargo Bank which recently ceased originating reverse mortgages due in part to new loan originator compensation rules introduced by the Federal Reserve Board in April .
Keranen's work ethic, extensive industry experience, and vibrant passion for driving the industry forward into the future is a natural fit with Legacy Reverse Mortgage. And 13 years after introducing the company's current CEO to the reverse mortgage industry, the relationship between Keranen and Cory has now come full circle.
Keranen joins Legacy Reverse Mortgage with a focus on overseeing the company's market in Oregon, Northern California, and Washington, with a special emphasis on his expertise with the HECM for Purchase program. He will also be organizing community workshops and educational seminars for seniors, real estate agents, and other key industry players in an effort to further Legacy's work in educating the public about reverse mortgages.
About Legacy Reverse Mortgage: Legacy Reverse Mortgage is one of the fastest growing reverse mortgage providers in the country. The company's management team has over 20 years of combined experience specifically in reverse mortgages, including Chief Executive Officer Jim Cory, who in 13 years has held several posts from Seattle Mortgage to Fannie Mae and serving on the Board of Directors of the National Reverse Mortgage Lending Association ("NRMLA").
Legacy was founded on the core principles of integrity, value, and shared success. The company's goal is to provide every customer with an honest and fair solution to their home financing needs. Legacy believes in educating customers, developing relationships, and never straying from a committed offer. You can learn more about Legacy Reverse Mortgage by calling (800) 991-4613 or by visiting http://www.legacyreversemortgage.com.