TowneBank’s reverse team focuses on HECM for Purchase business

Sitting comfortably in the top third of the Top 100 HECM Lenders list, Virginia-based TowneBank has been operating a reverse channel for more than a decade. Chip Glover, EVP and director of capital markets who heads the reverse channel, tell us part of its strategy to capture volume in the current climate is to focus on the HECM for Purchase product. “We think it affords us the best chance to be profitable in the HECM space,” he said.