OWINGS MILLS, Md. (Sept.29, 2021)–To help its branch partners nationwide diversify their product offerings with reverse mortgages, Primary Residential Mortgage, Inc. (PRMI) has designated The Steven J. Sless Group of Primary Residential Mortgage, Inc. as its dedicated reverse mortgage center.
Specializing in reverse mortgages for nearly two decades, the Maryland-based group opened in 2019 under the leadership of Steven J. Sless, CLTC®(NMLS 298581), who is regarded in the industry and by the media as the “go-to housing wealth source.”
PRMI soon experienced accelerated reverse mortgage growth due to The Sless Group’s knack for closing reverse mortgage loans quicker than the industry average and getting clients approved for loans that other lenders or processors did not. This prompted Sless’ 2021 promotion to division president. He was also named a Reverse Mortgage Industry “Game Changer” by Yahoo Finance and The Sless Group opened a second branch in California.
“PRMI shares The Sless Group’s commitment to succeed in the reverse mortgage space, and we feel that this partnership has poised our organization to become one of the nation’s top reverse mortgage lenders,” said PRMI President of Retail Chris Jones.
The Sless Group now provides hands-on support throughout the entire reverse loan process to PRMI’s branch partners nationwide. Through a dedicated online platform, the team actively coordinates all aspects of PRMI’s reverse mortgage operations including sales management, loan support, technology, investor relations and more.
PRMI branch partners can simply log on to request help with a reverse mortgage loan, process their reverse mortgage loan or refer a reverse mortgage loan to The Sless Group. Along with having a pre-underwriting review on every loan, they are assigned a dedicated loan coordinator to get their file to the closing table quickly. They also receive regular communication about where the loan stands through every step of the processing journey and can opt for clients to receive automated status notifications as well.
Support and guidance come from entire Sless Group management team:
“We’re all here to help our PRMI colleagues close more reverse loans faster and easier,” Sless said. “Our goal is to build their confidence in using reverse loan products, while empowering them with the overall knowledge of how housing wealth fits into a winning retirement income strategy for our clients.”
Sless plans to hire experienced reverse mortgage professionals – to work in existing PRMI branches or in reverse mortgage-exclusive branches opening throughout the country under The Sless Group umbrella. He also is leading PRMI’s transition from brokering reverse mortgage loans to becoming a lender – a move slated to take place Oct. 1.
“Becoming a lender will give us more control over the manufacturing of loans, providing our clients with a more streamlined process and faster turnaround times,” Sless added.
About The Steven J. Sless Group
NMLS #1083176 Headquartered in Owings Mills, Md. with an office in San Diego, Ca., The Steven J. Sless Group of Primary Residential Mortgage is the lender’s national division dealing exclusively with reverse mortgages. For more information, visit www.TheStevenJSlessGroup.comor call 410-814-7575. Or follow @MoreWithSless on Facebook, Twitter,LinkedIn and Instagram.
PRMI NMLS 3094. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Maryland Department of Labor, Licensing and Regulation Commissioner of Financial Regulation #5511. 10995 Owings Mills Blvd., Ste. 200 Owings Mills, MD 21117.
Primary Residential Mortgage, Inc. (PRMI) is a nationwide, multibillion-dollar operation cofounded in 1998. Its top leaders are authorities in the mortgage industry. With over 275 branches, licensed in 49 states and more than 2,300 employees, PRMI has been repeatedly recognized as a top mortgage lender and employer. For more information, call 800-255-2792, visit www.primaryresidentialmortgage.comor follow them on Twitter, Facebook, LinkedIn and Instagram. PRMI is and Equal Housing Lender. NMLS #3094.
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act 4130403. Licensed by the Delaware State Bank Commissioner to engage in business in Delaware 5644 expires on 12/31/2019. DC-Department of Insurance, Securities and Banking Department MLB3094. Florida Office of Financial Regulation MLD646. Georgia Residential Mortgage Licensee. Georgia Department of Banking and Finance 6521. IN-Department of Financial Institutions Consumer Credit Division, First Lien License 11069 Secretary of State Securities Commission Second Lien License 103936. Maryland Department of Labor, Licensing and Regulation Commissioner of Financial Regulation #5511. New Jersey Department of Banking and Insurance. Pennsylvania Department of Banking and Securities. VA-Bureau of Financial Institutions: MC-2248 Broker MC-2248 NMLS # 3094 (http://nmlsconsumeraccess.org). WA-Department of Financial Institutions CL-3094.