San Diego-based Smartfi Home Loans, a top 15 U.S. reverse mortgage lender, recently made the decision to close its retail division and place an “exclusive focus” on its wholesale channel, the company confirmed Tuesday with HousingWire’s Reverse Mortgage Daily.

The move was officially announced Sept. 15 and ends a short stint for the company’s retail division, which was formed in mid-2024. At that time, Smartfi hired former Finance of America executive Paul Fiore as its president of retail sales.

“Effective immediately, Smartfi will cease activities on its retail origination channel and exclusively concentrate on its wholesale business,” a company details ⇒

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