Mutual of Omaha Mortgage’s reverse mortgage division announced on Monday the appointment of Jennifer Allen as its new wholesale operations manager. An industry veteran, she has spent the past 15 years of a 20-year career primarily focused on reverse mortgage operations and underwriting, according to the company.
“Jennifer brings a wealth of industry experience to our leadership team, including a strong credit background and an innovative mindset that will be pivotal in helping Mutual of Omaha Mortgage grow,” said Rachael Loonam, SVP of operations at Mutual of Omaha Mortgage in an announcement of the hiring.
“Jennifer will be an important voice and asset to our leadership team, and I can’t wait to see what we accomplish together in the future,” Loonam added.
Over the course of her career, Allen spent six years at Finance of America Reverse (FAR) in operations and underwriting roles; one year at Reverse Mortgage Funding (RMF) as a subject matter expert for that lender’s help desk.
She also spent roughly three non-consecutive years at Longbridge Financial in underwriting roles; and just under a year as a direct endorsement underwriter for forward and reverse FHA mortgage loans at Family First Funding.
“Every reverse mortgage loan is more important than ever, especially as our industry faces challenges,” Allen said in a statement. “I’m excited to bring my experience to this role, so I can work closely with both our sales team and partners to make sure we close as many of these loans as possible for our borrowers.”
Last month, Mutual of Omaha Reverse appointed industry veteran Craig Barnes to the role of wholesale training manager, alongside announcing a new strategic business partnership with an estate planning company. Mutual of Omaha also renewed a subservicing relationship with Celink in September, continuing a deal first established in 2020.
According to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), Mutual of Omaha stands as the second-largest reverse mortgage lender in the country, recording 5,957 loans in the 12-month period ending in September 2023.
