New American Funding Bolsters Reverse Division With Addition Of New Managers

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New American Funding Bolsters Reverse Division With Addition Of New Managers

May 22, 2023 | News | 0 comments

New American Funding (NAF), a mortgage lender in Orange County, has recently strengthened its reverse mortgage division by appointing experienced professionals as divisional managers.

NAF Appoints Barbara Sica as East Coast Divisional Manager and Dennis Loxton as Central Regional Manager for HECM Business. Both newly appointed managers have extensive experience in reverse mortgage products.

Barbara Sica has held various positions related to reverse mortgages at companies such as Liberty Reverse Mortgage, Associated Mortgage Bankers, and United Northern Mortgage. In her most recent role, she served as a Vice President and Regional Reverse Manager at Homebridge Financial Services. Sica has been involved in the mortgage banking industry since 1986 and made the transition to reverse mortgages in 2002.

Dennis Loxton, the newly appointed Central regional manager, brings a wealth of experience to his role. He most recently held the position of regional sales manager at Longbridge Financial, and prior to that, he served as the national sales manager for the reverse mortgage division of Mid America Mortgage. Loxton also held the position of regional vice president for the Eastern region at Liberty Reverse Mortgage and served as the sales director for the central United States at American Advisors Group (AAG). His career in the reverse mortgage industry began in 2005 with Financial Freedom.

In March, NAF made several strategic changes within its leadership team, including the appointment of Robinson as the head of the reverse mortgage division. This decision was closely followed by the promotions of co-founder Patty Arvielo to the position of co-CEO and Christy Bunce to the role of president.

NAF stated that the promotions of Arvielo and Bunce would play a crucial role in advancing the growth and expansion of the company’s reverse mortgage operations. The recent hires and leadership changes demonstrate NAF’s commitment to strengthening its presence in the reverse mortgage market.

According to a spokesperson from NAF, the recent changes in the leadership structure serve to enhance the company’s position in the reverse mortgage sector. The spokesperson stated that Patty and Christy are fully aligned with NAF’s reverse strategy and wholeheartedly support Shannon and her team in expanding the reverse business.

NAF has also announced its objective of entering the top 10 within the reverse lending industry, indicating its ambitious goal for growth and market presence in that particular sector.