Reverse Mortgage Funding LLC Launching with Deep Talent Bench
Bloomfield, N.J., July 29, 2013 — Reverse Mortgage Funding LLC (RMF) is launching with a powerhouse management team of former MetLife leaders Craig Corn, Robert Sivori and Mike Mooney and industry veterans David Peskin and St. John Bannon. The team has an impressive track record, having built and led a series of significant industry-leading firms that have had substantial contributions to the industry. The new company will offer a full spectrum of reverse mortgage products and services across all channels.
Craig Corn, chief executive officer of RMF, has held several important positions within the industry over his career; most recently, he was the business unit head for MetLife’s Reverse Mortgage Division. Prior to joining MetLife, Corn was co-president of EverBank Reverse Mortgage, which was purchased by MetLife in May 2008. Prior to that, Corn was senior vice president at Financial Freedom, where he was responsible for the company’s third-party origination channels and secondary marketing/product development. He has also been senior vice president at Lehman Brothers, where he was responsible for the firm’s reverse mortgage business, which included the purchase and sale of Financial Freedom and the development of groundbreaking proprietary reverse mortgage products, as well as spearheading the first ever securitizations of reverse mortgage collateral.
“I am incredibly fortunate to be working with what I consider to be the best in the business,” Corn said. “Together we are designing the company from a clean sheet—instituting best practices, being selective about who we choose to work with, doing what we know to be right, and seeking out and working with like-minded loan originators. With Bob and David co-leading this with me, the company is positioned for incredible success.”
David Peskin, president of RMF, is an accomplished financial professional and entrepreneur. Peskin has held a number of leadership positions in the mortgage industry including chairman of Guardian Reverse Mortgage, where he helped transform the operation into a highly efficient and scalable retail platform, which was sold to Knight Capital in 2010. Prior to Guardian, Peskin was the chief executive officer of Senior Lending Network, one of the largest independent reverse mortgage companies in retail and wholesale in the U.S. Peskin has served as a board member of the National Reverse Mortgage Lenders Association (NRMLA).
“This is such an incredible thrill for me. I have worked with, have competed against and have incredible respect for each one of the executive team members,” Peskin said. “Partnering with Bob, Craig, and the entire management team charts a clear path to success. We are all very
excited about the opportunity to collectively take both the company and the industry to new levels. I believe all of us working together under one common goal will allow us to accomplish things in the future that we haven’t been able to realize in the past.”
Before joining the new company, Robert Sivori, chief operating officer, was a vice president at MetLife and was responsible for the strategic planning group. He previously was co-president of EverBank Reverse Mortgage and spent many years building a distinguished record at BNY Mortgage Company, where he held various roles including president. Sivori currently serves on the NRMLA Board of Director’s.
Previously a private consultant to the reverse mortgage industry, St. John Bannon, chief financial officer of RMF, had been working with David Peskin on operational and compliance reviews for Government National Mortgage Association (GNMA) Home Equity Conversion Mortgages -Backed Security (HMBS) issuers and with private equity firms on potential investments in the industry. Prior to that, he was chief operating officer of the Senior Lending Network. He also spent 13 years at AIG’s International Consumer Finance Group as executive vice president and director of operations. Prior to that, Bannon was chief financial officer for Shearson Lehman Mortgage and Far West Savings; the senior vice president for Bank of America’s secondary markets and mortgages wholesale business; and executive vice president at ITT Finance, where he co-founded the national mortgage business in 1992.
Mike Mooney leads the reverse mortgage third-party origination channel for RMF. He is also responsible for building the traditional third-party channel. Prior to joining RMF, Mooney was building MetLife’s Reverse Mortgage Third-Party Origination Division into a market share leader.
Reverse Mortgage Funding LLC is a member of the National Reverse Mortgage Lenders Association.
For more information, visit www.reversefunding.com.
About Reverse Mortgage Funding LLC
Reverse Mortgage Funding LLC was established in July 2012 and is led by industry veterans Craig Corn, Robert Sivori, and David Peskin. These executives have an average of more than 15 years of experience in building and, most importantly, growing firms in the industry. The company has offices in New York and New Jersey. Learn more by calling (877) 820-5314 or visiting www.reversefunding.com.