Ralph Rosynek, chief information officer and senior vice president of wholesale for Moneyhouse, joined Andrew Berman, head of engagement and outreach for National Mortgage Professional magazine, May 4 to explore how Moneyhouse has been affected by the COVID-19 pandemic on the latest episode of the Mortgage Leadership Outlook series.
Rosynek is one of the most popular professionals in the home equity conversion or reverse mortgage sector. Before joining Moneyhouse, he worked as president for 1st Reverse Financial Services, HECM director for Reverse Mortgage Solutions, and held many other positions in the reverse industry. He brought his expertise to Moneyhouse where he is responsible for the development and launch of the company's U.S. continental forward and reverse retail, wholesale, and correspondent platforms.
Rosynek noted that now is a great time to look at reverse mortgages. “We’ve seen a big increase in our pipelines because of this,” Rosynek said due to the impact on retirement savings from drops in the stock market and a lack of a “rainy day plan” by many older workers.
Reverse mortgages used to be a preservation product, but it has become a universally accepted product, he explained. The pandemic brought about the thought process that “What if this happens again?” Reverse mortgages will help with a lack of available cash.
“It’s a rainy day fund,” for many working seniors, Rosynek added.
See more of the Rosynek interview.