Yesterday Rock Holdings Inc., the parent company of Quicken Loans Inc. announced that they have acquired California based One Mortgage Network.  Headquartered in San Diego, One Mortgage Network is a fast growing provider of reverse mortgage products that employs over 100 people.  One Reverse Mortgage was founded in 2001 and is now focused on both the retail and wholesale reverse mortgage markets nationwide.  I’ve written a few times about their wholesale division, Reverse Mortgage Lender Network at RMD.

The company plans to work closely with Quicken Loans to leverage several key areas including its brand, marketing and technology.  RockBridge and One Reverse Mortgage believe partnering with Quicken Loans, the nation’s largest online retail mortgage lender; will enable One Reverse to build one of the most sophisticated reverse mortgage origination platforms in the country.  “We are extremely excited about our partnership with RockBridge and Quicken Loans as well as the tremendous resources they bring to us,” said Sean Marsh, CEO of One Reverse Mortgage.  “We’ve worked hard to build a strong foundation and we believe we’ve found the right people to help take us to the next level.”

“We plan on building One Reverse Mortgage in to the nation’s premiere reverse mortgage lender by leveraging Quicken Loans’ decades of best practices in technology, process, marketing, culture and client service,” Gilbert continued 
“This will also help Quicken Loans serve a broader market by adding to the diverse range of products we offer our clients,” he concluded.  To read a copy of the press release click the link below.

Rock Holdings INC (Parent Company of Quicken Loans INC. and Title Source INC.) Acquires two California-Based Companies

Technorati tags: Reverse Mortgage, Reverse Mortgage News, Quicken, Rock Holdings, Private Equity

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