CHICAGO, Nov. 20, 2024 ~ Rate, a leading fintech mortgage company known for its customer-centric approach, has recently announced the appointment of Jesse Q. Allen as President of its reverse mortgage division and Greg Pahel as EVP Consumer Direct Reverse Lending. These additions to the team highlight Rate's dedication to expanding its reverse mortgage business and catering specifically to homeowners aged 55 and above.

According to Rate CEO Victor Ciardelli, "Jesse brings a wealth of experience and a remarkable track record of success in the reverse mortgage space. His leadership aligns perfectly with Rate's vision of providing innovative solutions that truly meet the needs of homeowners seeking financial flexibility in retirement." With Allen at the helm of the reverse mortgage division and Pahel leading the consumer-direct model, Rate is poised to become a leader in this growing market.

Allen's impressive career spans over 35 years in financial services, with a focus on reverse mortgages. He has held senior-level positions at top institutions such as American Advisors Group and Bank of America, where he helped grow their reverse mortgage business into one of the largest platforms in the industry. "Rate's entrepreneurial and innovative culture prioritizes the customer and loan officer at the heart of all operations," said Allen. "The company's extensive reach, core values, and brand credibility offer an incredible platform and opportunity to scale and empower more people to live retirement with greater financial freedom and peace of mind."

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Pahel also brings over a decade of experience in reverse lending to his role at Rate. He will be responsible for establishing and growing a consumer direct model for the company. Pahel is known for his expertise in building high-performance sales strategies and has been instrumental in driving success for some of the industry's most successful consumer direct sales platforms. Prior to joining Rate, he served as Head of National Retail Sales at Nations Direct Mortgage and held key leadership roles at prominent institutions like American Advisors Group (AAG).

"I am incredibly excited to embark on this new chapter with Rate," said Pahel. "Over the next three to five years, I expect to see significant changes in the competitive landscape, with the rankings of the top lenders in the reverse mortgage market up for grabs. The companies that embrace innovation, deliver outstanding customer service, and create efficiencies will rise to the top. Rate is exceptionally positioned to be at the forefront of this transformation, allowing us the opportunity to change countless lives with this remarkable loan program."

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For those interested in joining Rate's team as they strive to become a leading retail reverse lender, visit their website or contact Eric Hollander at 513-991-6474.

With these new appointments and their commitment to providing tailored financial solutions for older homeowners, Rate is well-positioned to make a significant impact in the reverse mortgage market. Their focus on innovation and customer service sets them apart from competitors and will likely lead them to success in this growing industry.

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