The reverse mortgage division of Fairway Independent Mortgage Corp. has honored a longtime professional in its ranks with a lifetime achievement award, in recognition of his 40-year career in the mortgage banking, real estate, homebuilding and title insurance industries.
Pete Stebbins, 90, initially joined Fairway in 2012 and currently works as director of business development in the company’s Madison, Wisconsin, office. The company said that Stebbins has been “instrumental in connecting reverse loan originators with key industry partners,” including real estate agents, financial planners and builders.
“His relentless dedication to relationship-building and support for his teammates has profoundly influenced the reverse mortgage landscape in Dane County and beyond,” the company explained.
Stebbins shares his enthusiasm for the reverse mortgage product category by serving on the board of directors for multiple organizations, including local chapters of real estate agent and mortgage associations. He currently serves on the board of the Wisconsin State Mortgage Bankers Association and he has also volunteered time for Habitat for Humanity.
Stebbins has observed various changes to the reverse mortgage industry throughout his career and he sees more change on the horizon.
“Regulatory reforms have made reverse mortgages safer and more consumer-friendly,” Stebbins said. “I believe the next five to 10 years will bring even greater innovation and acceptance of this valuable tool.”
Stebbins — referred to as “Pistol Pete” by his colleagues — was also lauded by Dan Ventura, Fairway’s president of reverse lending.
“Pistol’s achievements are only outshined by his kindness and generosity. This award is a true reflection of his outstanding career and the positive impact he’s made,” Ventura said.
Stebbins was presented with the award by Josh Kilty, Fairway’s senior vice president of reverse lending.
