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Poncin joins Wells Fargo Home Mortgage Woodbury site

Paul Poncin has joined Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A. as a reverse mortgage consultant.

In this role, Poncin will work exclusively with senior homeowners seeking a reverse mortgage, a home financing program that allows homeowners to utilize the equity in their home to supplement their retirement income.

Poncin will be based in Wells Fargo Home Mortgage's Woodbury office, and serve customers statewide.

Poncin has more than 16 years of financial experience. Prior to joining Wells Fargo Home Mortgage he served as a business banker for U.S. Bank.

"We are excited to have a reverse mortgage consultant on our team who will be able to focus on the needs of our senior customers in Minnesota," said Robert Austin, a branch manager for Wells Fargo Home Mortgage. "Reverse mortgages are gaining in popularity among senior homeowners, so we are pleased to offer Paul's expert consultation."

A reverse mortgage is a loan that enables senior homeowners to convert part of the equity in their home into tax-free income without having to sell the home, give up title, or take on a new monthly mortgage payment. Reverse mortgages are generally limited to individuals 62 years and above who own their homes free and clear of debt, or have only a small loan balance remaining.

Wells Fargo Home Mortgage is one of the nation's leading retail mortgage lenders and services one of every seven mortgage loans in the nation.

A division of Wells Fargo Bank, N.A., it has a national presence in mortgage stores and banking stores, and also serves the home financing needs of customers nationwide through its call centers, Internet presence and third-party production channels.