Wednesday, April 23, 2008

Reverse Mortgage Industry Leader Joins Senior Financial Corp., an Initial Public Offering Contender

ROCKLIN, Calif., April 23 /PRNewswire/ -- Sarah Hulbert, a 16 year
veteran of the contrary mortgage banking industry and former President of
the National Change By Reversal Mortgage Lenders Association (NRMLA) Board of
Directors have been named President of Senior Financial Corp. (SFC),
announced Monday April 21, 2008 by Shad M. Derifield, Head Executive
Officer and President of SFC. Hulbert will take a squad of industry experts in the enlargement of SFC
into a countrywide leader of contrary mortgage retail banking. "We are very
excited that we have got been able to get Hulbert and experience with her
expertise and solid repute we will be able to procure the top 10 reverse
mortgage loaner position by 2009," said Derifield. The Rocklin,
California-based Company have been rapidly expanding throughout the country
since its origin in 2006, currently operating in eight states, with
plans to spread out into all major marketplaces by the end of 2009, and the Initial
Public Offer in 2010. Hulbert conveys with her somes proved path record of edifice successful
reverse mortgage organizations. She most recently was Senior Frailty President
and Director of Wholesale Lending for EverBank Change By Reversal Mortgage LLC,
(recently acquired by Met Life). Prior to joining EverBank, she was Senior
Vice President and National Director of Seattle Mortgage's Change By Reversal Mortgage
Division, which have since been acquired by Depository Financial Institution of America. A celebrated talker and published author, Hulbert have served on the
National Change By Reversal Mortgage Lenders Association's Board of Directors since
2000, serving as co-chairperson from 2003 to 2006, and as chairwoman
ex-officio since January 2007. Additionally, she currently functions as
co-chair of NRMLA's Standards and Ethical Motive Committee. 2008 Marks the first grouping of Baby Boomers who are turning 62, the
minimum required age to measure up for a contrary mortgage. As such, many
investors are paying stopping point attending to change by reversal mortgages as an industry
that is poised for important growing -- 10,000 people attain the age
of 62 every day, with projections demonstrating there will be 80,000,000
homeowners eligible for a contrary mortgage within the adjacent 10 years. Depending on marketplace statuses SFC will be the first Change By Reversal Mortgage IPO
since 1992. A contrary mortgage, the most popular of which is the FHA-Insured Home
Equity Conversion Mortgage (or HECM), is a merchandise designed for homeowners
age 62 and over. This merchandise lets senior householders to tap into their
home's equity, with no refund until the borrower no longer inhabits the
home as their primary residence. In most cases, one hundred percentage of the
costs may be financed into the contrary mortgage -- there are no
out-of-pocket disbursals and no income or recognition requirements. For more than information delight contact Senior Financial Corp. at
888-816-8882 or . This release was issued through eReleases(TM). For more than information,
visit .

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