One Reverse Mortgage announced today it has received approval to issue Ginnie Mae securities through GNMA’s HECM-Backed Securities program. The San Diego-based reverse mortgage division of Quicken Loans is the largest reverse-only lender, and upon the recent exits of Wells Fargo and Bank of America from the business, will assume the second spot for reverse [...]

Quicken Loans today announced the launch of a mobile phone application that will allow users to apply for mortgages from their smartphones. Through its “MyQL Mobile” app, Quicken clients will be able to apply for loans from their iPhone, iPad or iPod Touch. The app guides loan applicants from the application to the closing table [...]

Rockbridge Growth Equity announced it led the acquisition of Connect America, a security and safety solutions provider for older Americans who wish to continue to live an independent life at home. RockBridge, one of the portfolio companies of Quicken Loans founder Dan Gilbert, partnerd with Falcon Investment Advisors in the acquiistion, providing subordinated debt and preferred equity [...]

Quicken Loans reported it closed approximately 15,500 home loans totaling $3.4 billion in loan volume in September, the largest monthly volume in the company’s 25 year history. The record month surpassed the previous high of nearly 14,000 closed loans and $3.15 billion in loan volume, which the 50-state centralized home lender achieved just one month prior [...]

One Reverse Mortgage is encouraging seniors to take advantage of the Federal Housing Administration’s reverse mortgage program before the amount seniors can receive decreases between 1 and 5 percent. While FHA hasn’t officially announced the principal limit changes, the annual mortgage insurance premium (MIP) will increase from .5 percent to 1.25 percent. The MIP is [...]

One Reverse Mortgage is moving the company’s headquarters to downtown Detroit later this summer. The company said 110 team members will move to the Compuware Building and share space with its sister companies, Quicken Loans Inc., Fathead and In-House Realty.