Nationwide Equities president Glenn Wallace retires after 50 years

Glenn J. Wallace, the president of reverse mortgage direct lender and broker Nationwide Equities Corp., is retiring after more than 50 years in the mortgage finance industry, the company announced on Thursday. Philip Parziale, the company’s general counsel, will succeed him as president while continuing in his legal role. Wallace built a career in banking, mortgage lending and entrepreneurship, holding prior leadership positions at Citibank and Dime Savings Bank before joining Nationwide Equities. At Citibank in New York City, Wallace became the bank’s top-producing loan originator and was promoted to assistant vice president within two years. He later joined Dime Savings Bank, where he helped develop home equity and cooperative apartment loan programs. He became a senior vice president at age 31 and subsequently served as president of the bank’s New Jersey mortgage banking division. Wallace later partnered with Paul Lamparillo to acquire Nationwide Equities, where the two served as co-presidents. During his tenure, Wallace introduced the company’s net-branching model and secured regulatory approval for the approach, helping Nationwide Equities expand to more than 100 branch office...