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The Federal Savings Bank welcomes Harbor Mortgage Solutions Team

HECMWorld Press Release

The Federal Savings Bank Welcomes the Harbor Mortgage Solutions Team, Broadening Reach in Home Equity Conversion Mortgages

Chicago, IL. (June 21, 2023)

The Federal Savings Bank is proud to welcome the Harbor Mortgage Solutions Team. This not only strengthens the bank’s capabilities in both conventional and home equity conversion mortgages across the United States but also extends local operations and face-to-face consultations in Massachusetts.

George Downey | Regional SVP

Led by Regional Senior Vice President George Downey, the Harbor Mortgage Solutions Team has over 30 years of experience in the mortgage industry. They specialize in reverse mortgages, but their expertise also extends to conventional and jumbo mortgages, further enhancing The Federal Savings Bank’s capacity to cater to diverse financial needs nationwide.

In response to the rising liquidity challenges for seniors, The Federal Savings Bank and the Harbor Mortgage Solutions Team are enhancing their focus on the Home Equity Conversion Mortgage (HECM) program. This FHA-insured reverse mortgage program enables seniors to securely access their home equity with flexible and secure terms. The addition of the Harbor Mortgage Solutions team to The Federal Savings Bank is more than a resource integration—it’s a strategic collaboration to effectively manage the rewards and risks of housing wealth for seniors.

With George Downey, a known figure for his insightful newsletters and appearances on the Senior Bulletin Podcast, at the helm, the Harbor Mortgage Solutions team goes beyond providing mortgage services. They extend their expertise to the community through educational workshops and webinars. Downey’s industry service is significant, including his role as a Director on the board of the National Reverse Mortgage Lenders Association.

To learn more about The Federal Savings Bank, the HECM program, or to schedule a consultation, visit or contact George Downey directly at (781) 843-5553 or



Regional Senior Vice President
The Federal Savings Bank
(781) 843-5553 | Cell (617) 594-3666 |

About The Federal Savings Bank

The Federal Savings Bank is a federally chartered bank, veteran founded and operated. We are proud to be a nationwide mortgage lender, supporting borrowers in all 50 states. We believe in unparalleled experience, exceptional customer service, operational excellence, and community beyond walls.


Editor in Chief:
As a prominent commentator and Editor in Chief at, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
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