360 Mortgage Group Introduces Reverse Mortgage Processing as a Service Platform

Hires Reverse Mortgage Industry Veteran Michael Suits to Lead New Division

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Austin, TX (PRWEB) April 09, 2014

360 Mortgage Group, LLC (360 Mortgage Group), a privately-owned mortgage banker with a primary focus on third party origination, announced today the formal introduction of its Reverse Mortgage Division. The foundation of 360 Mortgage Reverse is an end-to-end reverse mortgage processing platform for mortgage brokers, third party originators, community banks and credit unions to originate reverse mortgage loans. This on-demand reverse mortgage processing platform, allows originators to scale capacity to market demands, increase profitability, remain fully compliant and continue to own the customer relationship. 360 Mortgage Group, which is currently licensed for reverse mortgage loans in 35 states and the District of Columbia, will also be originating reverse mortgages through its growing retail channel.

In conjunction with the launch of its reverse mortgage division, 360 Mortgage Group named reverse mortgage industry executive Mike Suits Division Manager of 360 Mortgage Reverse. In this role, Mr. Suits will be responsible for the Division’s management and growth, developing new lending relationships nationally, hiring and mentoring experience professionals and building brand reputation.

Joining Mr. Suits at 360 Mortgage Reverse is a team of 16 experienced reverse mortgage professionals, including Processors – Kristin Yates and Kim Stripling; Underwriters – Mindy Brown and Michael Adler; Closing – Alex Padilla; Funding – Ruben Maltos; Trainer – Mickie Raquet; and Account Executives – Melissa Entin and Christopher Kerksieck, who have previously worked together with Mr. Suits.

“Part of 360 Mortgage group’s strategy is to take advantage of growth opportunities in an assertive manner where and when opportunities present themselves. We have been researching entering the reverse lending market for the last few years, and our timing was accelerated when Mike Suits became available. Mike’s character, leadership ability and extensive reverse market and product knowledge makes him the perfect addition to our team,” commented Mark Greco, President and Founder of 360 Mortgage Group. “Our on-demand reverse mortgage processing platform will not only allow third party originators to offer additional products to remain competitive through any market cycle, but also remain fully compliant, mitigate risk and continue to control the client relationship. With Mike and his new team we are off to a fast start.”

Benefits of 360 Mortgage Reverse Processing Platform

  •     Compliant and reliable.
  •     Single point of contact for origination through closing.
  •     Allows all type and sized partners the ability to originate reverse mortgage loans.
  •     Cost effective, pay per loan and not have to hire a reverse mortgage processor on your staff.
  •     Time management, access to experienced processing team.

Mike Suits, Reverse Mortgage Division Manager

Mr. Suits brings to 360 Mortgage Group more than 12 years of retail and wholesale mortgage industry experience, the last seven focusing on the reverse mortgage industry. During his career, Mr. Suits has held leadership as well as operational and sales management positions, and helped create new and expand existing reverse divisions at some of the largest companies in the mortgage industry. Most recently, Mr. Suits was the President of Reverse Mortgage USA, where he was responsible for retail and wholesale operations for all departments of the company. In this role, he was responsible for the successful development and launch of the wholesale division as well as the re-creation and restructuring of the branch division. Under the direct management of Mr. Suits, all division experienced growth in volume and market share. Previously, Mr. Suits held Reverse Mortgage Regional Wholesale Account Executive positions with Urban Financial Group, Genworth Home Equity Access and MetLife Bank.

“360 Mortgage Group is known throughout the mortgage industry for superior technology and its ability to create strong partnerships by providing exceptional service to originators throughout the U.S.,” said Mr. Suits. “Our goal in the Reverse Mortgage Division will be to capitalize on the market share already available through the great relationships that 360 Mortgage Group has developed over the years by leveraging out team’s significant experience in the reverse mortgage industry.”

For more information on 360 Mortgage Reverse, please contact Michael Suits at (512) 418-6011 or msuits (at) 360mtg (dot) com.

360 Mortgage Reverse is currently licensed for reverse mortgage loans in the following states; Alabama, Arkansas, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming and the District of Columbia.

About 360 Mortgage Group, LLC:

Established in 2007, 360 Mortgage Group, LLC (NMLS ID#155922) is a privately owned mortgage banker with a primary focus on third party origination that has successfully utilized its high-technology platform to provide better communication and customer service to business partners. An approved Fannie Mae seller/servicer, Freddie Mac seller/servicer and Ginnie Mae Issuer, 360 Mortgage Group is headquartered in Austin, Texas and provides services in 44 states across the country. 360 Mortgage Group has emerged as an industry leader in refinancing under Home Affordable Refinance Program (HARP) 2.0. For more information on 360 Mortgage Group, please visit https://www.360mtg.com.

Media Contact:
John Lovallo of LEVICK - Telephone: 917-612-8419 - Email: jlovallo (at) levick (dot) com


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  • Bryant Madden
    LEVICK
    202-973-5303
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