One Reverse Mortgage was acquired by Quicken Home Loans in early 2008 and shortly after saw its business model drastically change.  The San Diego, CA based company eliminated all of its outside sales staff to better align with Quicken’s business model and began leveraging the web to market its business more than anyone in […]

Fortress Investment Group (NYSE: FIG) and Quicken Loans announced last week that they’ve entered into an exclusive joint venture to help Fortress implement a refinancing and loan modification strategy for its mortgage portfolio and investments.  Fortress acquired more than $12 billion of servicing when it purchased the subprime mortgage banking operations of Centex in […]

About a week ago I wrote about how the Quicken acquisition of One Mortgage Network has temporarily closed Reverse Mortgage Lender Network (their wholesale division).  Little did I know there was some other changes going on at One Mortgage Network too.  A few RMD readers decided to update me on what was happening so […]

I recently had a RMD reader ask me what is going on with Reverse Mortgage Lender Network so I thought I would update everyone on why the website was recently taken down.  When I contacted RMLN this is the response I received.

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 […]

The past week or so has been an interesting time in the reverse mortgage world.  Early last week, out of nowhere I received an email from Sun West that said they would no longer accept any HECM 100 submissions unless it was already in the current pipeline.  Surprised?… Yes. Shocked… no.  With the liquidity crunch […]