Federal Savings Bank Enters Retail Reverse Mortgage Market

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Hopkins Federal Savings Bank, founded in 1921 has established iReverse Home Loans, a retail reverse mortgage subsidiary.

Hopkins Federal Savings Bank, founded in 1921 has established iReverse Home Loans, a retail reverse mortgage subsidiary.

Senior management at Hopkins Federal Savings Bank had been closely monitoring the reverse mortgage industry for numerous years. As product innovations came to market and the overall sector began to mature, Hopkins felt it was the right time to enter the market and offer a unique opportunity to select reverse mortgage specialists nationwide.

Hopkins has teamed up with Kenneth J. Klawans, a Certified Senior Advisor and 20-year mortgage and banking industry veteran to create an organization that combines ethical, honest business practices with the opportunity for select experienced Reverse Mortgage Specialists to enjoy an extraordinary compensation structure…all with the benefit of operating nationwide under a federal bank charter.

"A reverse mortgage is an excellent product for the right individual," said Steven A. Cohen, President and CEO of Hopkins Federal Savings Bank. "It's not necessarily suitable for every situation but for many seniors who have built up considerable equity in their home, it can be a life saver."

iReverse Home Loans fills a niche in the market by combining the ability to originate reverse mortgages nationwide, industry high compensation plans and an intense focus on ethics, compliance and fraud prevention. "We're not looking to hire everyone." says Kenneth J. Klawans, President of iReverse Home Loans. "We're only looking for the best."

About Hopkins Federal Savings Bank
Since 1921, Hopkins Federal Savings Bank has been serving local communities with assets of approximately $300 million. The bank is rated "Superior", the highest rating, by Bauer Financial, an independent rating agency for banks nationwide. The bank's website is http://www.hopkinsfsb.com. Equal Housing Lender- Member FDIC.

About iReverse Home Loans
Established in 2007, iReverse originates reverse mortgages nationwide through a team of experienced, reverse mortgage specialists. Information about iReverse programs can be found at http://www.ireverse.com/employment.

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Kenneth J. Klawans