Reverse Mortgage Loan Blog

WASHINGTON, D.C.— The Board of Directors of the National Reverse Mortgage Lenders Association has elected Joe DeMarkey of BNY Mortgage Company and Bart Johnson of Financial Freedom as Co-Chairs of the Association for the next 12 months.

Joe DeMarkey is Director of Corporate Development at BNY (an Everbank Company) with over 9 year’s experience in the reverse mortgage industry. According to the U.S. Department of Housing and Urban Development, BNY Mortgage ranked fifth overall in the nation as a producer of federally insured reverse mortgages (i.e., Home Equity Conversion Mortgages). In addition to his current responsibilities, DeMarkey (who is based in Milford, Mass.) has played a pivotal role in helping grow BNY’s reverse mortgage retail sales division.

Bart Johnson is President of Financial Freedom, a subsidiary of IndyMac Bank, FSB, based in Irvine, Calif. A career mortgage banker, he joined the company in late 2002 as Chief Operating Officer, and was promoted to President in November 2005. Under his leadership the company has significantly grown business volumes, profitability, and market value. Today, Financial Freedom is the largest producer and servicer of reverse mortgages in the country. At the beginning of 2007, Bart relinquished the internally-focused day-to-day management of the business to assume a more externally-focused national and international role, to continue building both the Company and the industry.

DeMarkey and Johnson succeed Sarah Hulbert of BNY Mortgage, Renton, Wash. and Jim Mahoney, Chairman of Financial Freedom, Irvine, Calif., who served as Co-Chairs for the past three years.
In addition to DeMarkey and Johnson, the Board of Directors elected Patrick McEnerney of New York-based MortgageIT, a subsidiary of Deutsche Bank, as Vice Chairman; Dean Jones of SCME Mortgage Bankers, based San Diego, Calif. as Secretary; and Dan Ryan of Farwest Mortgage Bankers, Inc., based in Placentia, Calif., as Treasurer.

In addition to the new leadership, the following individuals were elected to one-year terms on the NRMLA Board of Directors: Sarah Hulbert, BNY Mortgage, Renton, Wash.; Jim Mahoney, Financial Freedom, Irvine, Calif.; David Levitt, Circle Mortgage Corporation, Hollywood, Calif.; Bob Sivori, BNY Mortgage, West Paterson, N.J.; Vanessa White, BNY Mortgage, West Paterson, N.J.; Scott Norman, Financial Freedom, Austin, TX; Jeff Taylor, Wells Fargo Home Mortgage, Greensboro, N.C.; Diane Coats, Wells Fargo Home Mortgage, Greensboro, N.C.; Cheryl Chapin McNally, Wells Fargo Home Mortgage, Sagamore Beach, Mass.; John Myers, Financial Heritage, San Diego, Calif.; John Nixon, Seattle Mortgage Company, Bellevue, Wash.; David Peskin, Vertical Lend Inc, dba Lender Lead Solutions, Melville, N.Y.; Mark Browning, Community Home Equity Conversion Corp., Rochester, N.Y.; Nick Buscaglia, M&T Bank, Buffalo, N.Y.; David Carey, Fannie Mae, Washington, D.C.; Tony Garcia, LibertyStreet Financial Group, Carlsbad, Calif.; Steve Irwin, Financial Freedom, San Francisco, Calif.; David Levitt, Circle Mortgage Corp., Hollywood, Calif.; Shawna James, MortgageIT, a subsidiary of Deutsche Bank, New York.

This year, the following five members of NRMLA were elected to the Board of Directors for the first time: Charlie Jones, Seattle Mortgage Company, Seattle, Wash., Dan Osterhout, Cambridge Senior Capital, Bridgeport, CT; Mike Gruley, 1st Financial Reverse Mortgages, Northville, Mich.; Kevin Murphy, Kastle Mortgage Corp., Belmar, N.J.; and Barry Scoles, 1st Reverse Mortgage USA, Lakewood, Colo.

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