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Cherry Creek Grows Its Reverse Mortgage Division

Bruce Barnes and Jim Cory

Cherry Creek Mortgage [1] has announced two new additions to expand the company’s Reverse Mortgage Division. Joining Cherry Creek are new Managing Directors of the Reverse Mortgage Division, Bruce Barnes [2] and Jim Cory [3]. Barnes and Cory will be tasked with expanding Cherry Creek’s reverse mortgage presence in retail, wholesale, and closed loan production.

“We are excited about the opportunity to advance Cherry Creek as a leading, retail, wholesale and closed loan purchaser of reverse mortgages,” said Barnes. “Together, Jim and I have built several successful reverse mortgage platforms and have been responsible for funding billions of dollars in reverse mortgage production. It is our plan to make the reverse mortgage division the best place to work and to become a leading lender in the reverse mortgage space.”

Barnes has a decade-plus of industry experience under his belt, having spent time at EquiPoint Financial, Silvergate Bank, Live Well Financial, and most recently at EcoChain Systems. Cory has two-plus decades of industry experience, including positions at Seattle Mortgage Company, Liberty Street Financial, Legacy Reverse Mortgage, Live Well Financial, Open Mortgage, and Fannie Mae.

“We believe the company has an untapped opportunity to leverage our large retail team, joint ventures and other strategic initiatives to expand our reverse mortgage presence,” said Rick Seehausen [4], President and COO of Cherry Creek Mortgage. “With the recent strong rise in home price appreciation around the country and our ability to securitize and service the reverse product, it’s an opportune moment to showcase reverse mortgages, which can be a valuable tool for seniors. We are very committed to this business and are here to stay.”