OneTrust Home Loans, a DBA of CalCon Mutual Mortgage LLC based in San Diego, Calif., announced this week the appointment of Gabe Bodner to the head of its 55-plus lending division which includes its reverse mortgage business.
Bodner, a 20-year mortgage professional, previously served OneTrust as a VP and reverse mortgage planner. He also has experience in the space at companies including Fairway Independent Mortgage Corp., and Cherry Creek Mortgage prior to its acquisition by Guild Mortgage.
Education first
With the appointment of Bodner, the company says it is also refreshing the senior-focused division to operate on an education-first approach.
“Key initiatives include monthly webinars to educate financial planners, clients and referral partners on the benefits of reverse mortgages, alongside comprehensive training programs designed to help mortgage loan originators specialize in the 55-plus market,” the company said. “The division is also strengthening its partnerships with builders and real estate professionals while establishing robust referral programs to connect reverse MLOs with forward loan teams.”
When reached by phone, Bodner told HousingWire’s Reverse Mortgage Daily (RMD) that the opportunity came about from serving as the company’s top producer, and his own role in educating people about the reverse mortgage product category.
Earlier this year, Bodner published a book about reverse mortgage use cases and strategic ways to incorporate it into a financial plan, and the company’s leadership recognized the importance of education and why a practitioner with educational experience should lead the division.
“I’ve always used education at the forefront for building and growing my personal book of business,” Bodner said. “I believe that the executive team at OneTrust has ultimately realized the importance of utilizing education with older clients, and specifically in the reverse mortgage space.”
Executive confidence in 55-plus
Bodner said that the firm’s executive team came to him a couple of weeks prior to him taking the job to explain that growing the division through education was an important priority.
“I have seen a larger commitment to this space in the last three weeks, then I had previously seen in the prior two years,” Bodner said.
When asked about the confidence that the executive team has in the division, Bodner said the support has been easily felt. James Hecht, the company’s CEO, said, “We are confident that Gabe’s leadership will bring fresh energy and innovative strategies to our 55-plus lending division. His expertise and dedication to serving seniors will strengthen our ability to meet the evolving needs of this important demographic.”
There will also be some changes to the division’s consumer-direct side, which includes the development of more sustainable lead generation models and the incorporation of bridge lending “to create dual-sale opportunities tailored to senior homeowners,” the company said. The division is also undergoing a change in its technology tools.
Bodner succeeds Jesse Allen in the leadership role of OneTrust’s 55-plus division, who was recently appointed as president of reverse mortgage lending at Rate, the lender formerly known as Guaranteed Rate.
