Cherry Creek Expands Its Reverse Mortgage Channel

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Bruce Barnes and Jim Cory joined Cherry Creek as managing directors of the reverse mortgage division. Under their leadership, the company intends on expanding its reverse presence in retail, wholesale, and closed loan production.

“Together, Jim and I have built several successful reverse mortgage platforms and have been responsible for funding billions of dollars in reverse mortgage production. It is our plan to make the reverse mortgage division the best place to work and to become a leading lender in the reverse mortgage space,” said Barnes.

“We believe the company has an untapped opportunity to leverage our large retail team, joint ventures, and other strategic initiatives to expand our reverse mortgage presence,” said Rick Seehausen, president and chief operating officer of Cherry Creek Mortgage. “With the recent strong rise in home price appreciation around the country and our ability to securitize and service the reverse product, it’s an opportune moment to showcase reverse mortgages, which can be a valuable tool for seniors.”

Cherry Creek is headquartered in Colorado and is licensed in 38 states, including Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia, Wisconsin, Wyoming.