HousingWireHousingWire
CMG Home Loans, the retail lending division of CMG Financial, announced on Tuesday the appointment of Kari Van Kleef to the position of reverse mortgage operations manager. She is one of “several industry veterans who will be directing the dedicated reverse mortgage department at CMG,” the company said.
Van Kleef, who previously worked for the reverse mortgage divisions at Fairway Independent Mortgage Corp. and Movement Mortgage, has been in the broader mortgage business for about 26 years and began focusing specifically on reverse in 2015. During her time at Fairway, she established a new reverse mortgage processing center and was involved in the expansion of that company’s division from six employees to 55.
Van Kleef also helped to expand the reverse mortgage division at Movement prior to joining CMG. She will be working alongside Gina Larson, the company’s reverse mortgage regional manager for the West; Peter Klamkin, its regional manager for Texas and the East; and Sean Kirksey, its vice president of reverse mortgage.
Van Kleef expressed excitement about joining the company.
“My passion for the reverse industry is extremely strong, and I was happy to find a place that offers the perfect platform for me to apply and enhance my skills,” she said. “Their commitment to innovation and growth paired with their passionate leadership team made my decision to come to CMG easy.”
Regarding the division’s growth, Kirksey added that the addition of Van Kleef is evidence of the larger company’s commitment to the reverse space.
“We’re in a unique position in the market with 1,400 traditional loan officers in the company who have pre-established relationships with clients that we can help wherever they are in life,” Kirksey said in a statement. “CMG has already proven that we’re committed to developing the Reverse space, as proven by our growth and addition of industry veterans like Kari.”
The company also described expanded demand for its reverse lending products. Over the first seven months of this year, CMG has seen a 500% increase in its Home Equity Conversion Mortgage (HECM) volume. According to data from Reverse Market Insight (RMI), CMG originated 72 HECM loans during the first seven months of 2024 compared to 12 during the same period last year.
