WSFS Financial Corp. of Wilmington, Del., said it has hired Patricia Kauker as a vice president of its newly created reverse mortgage business unit.
Ms. Kauker is a reverse mortgage expert, WSFS said Thursday. She has worked for Beneficial National Bank, Norwest Mortgage, Financial Freedom, and, most recently, at AIG Bank in Wilmington as the head of its reverse mortgage initiative.
"Product improvements, demographic changes, and market awareness make this an opportune time for WSFS to re-enter this market," the company said.
WSFS Financial had $3 billion in assets as of Sept. 30. Its principal subsidiary, Wilmington Savings Fund Society, operates 27 retail banking offices in all three counties in Delaware and in Chester and Delaware counties in Pennsylvania.
Other operating subsidiaries include WSFS Investment Group Inc., Montchanin Capital Management Inc., and WSFS REIT Inc.
