Smartfi Home Loans, based in San Diego, is expanding its services by launching a retail division to offer reverse mortgage products. Industry veteran Paul Fiore has been appointed as the president of retail sales to lead this new division.
In a social media post, Fiore expressed his excitement about his new role, stating, “Joining a team of highly accomplished professionals to establish a retail platform from scratch is an incredible opportunity.”
With previous experience at Finance of America and American Advisors Group, Fiore sees the potential to build a successful retail division in the reverse mortgage industry. He shared his enthusiasm for this new venture in an interview with HousingWire’s Reverse Mortgage Daily.
Making the Move
After leaving Finance of America, Fiore reflected on his 15 years in the industry and saw the opportunity to explore new possibilities. His decision to join Smartfi was driven by a shared vision for the future and a strong connection with the team.
Fiore officially started his role as president of retail sales on July 29, marking the beginning of building the retail division from the ground up. He emphasized the importance of creating synergy between the existing wholesale channel and the new retail channel for the company’s future success.
As the industry and borrower preferences evolve, Fiore highlighted the need to adapt the new division to meet these changing demands. He stressed the importance of understanding the market and aligning the division’s strategies accordingly.
The Ground Floor
Excited about starting a new division, Fiore likened the experience to his early days at American Advisors Group. He emphasized the need to evaluate technology and workflow before hiring personnel, such as loan officers, to ensure a successful launch.
Reuniting with former colleague Kim Smith, who is now the senior vice president of wholesale lending at Smartfi, will further strengthen Fiore’s efforts in building the new retail division.
Fiore hopes that the addition of Smartfi as a new retail player in the reverse mortgage industry will contribute positively to the market. He emphasized the importance of expanding the industry and supporting colleagues for mutual success.
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