Steve Loney, NMLS #382902, a Reverse Mortgage Expert, is Vice President of Reverse Mortgages SIDAC, LLC. Previously he was Senior Vice President of a mortgage broker as well as Assistant Branch Manager in Minnesota and Michigan for one of the largest Reverse Mortgages companies in the industry. As a manager in the reverse mortgage industry since 2001, Mr. Loney has assisted in supervising loan officers, processors, as well as originating reverse mortgage loans. In addition, he has developed a specialized processing system. This unique system is designed to assist the processor in being much more efficient and accurate in the processing of reverse mortgage loans. The system is also providing a database of information for marketing and other analysis for the business.Mr. Loney has also been instrumental in developing relationships with many other mortgage companies and banks for the purpose of originating and processing reverse mortgage loans for their clients.
Mr. Loney attended Wisconsin State University, majoring in Mathematics. He spent four years in brokering alternative financial programs for businesses before entering the Reverse Mortgage industry. Prior to that he was a controller for a large forest products company for twenty-four years.