SAN DIEGO, March 13, 2012 /PRNewswire/ -- One Reverse Mortgage LLC (ORM), the nation's largest reverse-only and second largest overall retail provider of reverse mortgage home loans, today announced it has expanded and nearly doubled its headquarters to accommodate the company's continued growth. ORM will occupy one floor and 14,000+ square feet in its new office, located at 9920 Pacific Heights Blvd, Suite 350 in San Diego, California.
One Reverse Mortgage specializes in a FHA program focused on allowing homeowners, 62 years and older, the opportunity to convert some of the equity in their home into tax-free cash. Homeowners don't have to make any monthly payments on the "cash out loan" proceeds until they move from the home, sell the home or become deceased, in which case the home is then sold and the principal and interest owed on the loan is repaid from the sale proceeds.
"One Reverse Mortgage is the fastest growing reverse mortgage company in the nation," said Gregg Smith, President and Chief Operating Officer of ORM. "This success demands additional team members. We had 20 licensed bankers in 2007 and now have more than 130 with immediate plans to hire more. Our operations team has also grown from 16 team members in 2007 to more than 50 today. We expect to hire 20-30 additional team members this year."
ORM's new space was designed and built to encourage creativity, communication, collaboration and motivation. One Reverse Mortgage's culture is reflected in the bright colors, open spaces, low interior walls, and fun design combined with the latest state-of-the-art technology.
"This new space accommodates our growth, which although aggressive, has been accomplished by maintaining our focus on high-quality client service," said Richard Mandell, Chief Executive Officer of ORM. "Our licensed bankers are knowledgeable about reverse mortgages and are experienced working with seniors, which has allowed us to grow so rapidly."
One Reverse Mortgage was founded in 2001, operates in 48 states across the U.S. and is a Quicken Loans company. To learn more about One Reverse Mortgage, please visit www.onereversemortgage.com.
About One Reverse Mortgage LLC:
One Reverse Mortgage LLC is the largest reverse-only mortgage lender in America and second largest retail provider of reverse mortgage home loans. The company's specialized products focus on allowing homeowners, 62 years and older, the opportunity to convert some of the equity in their homes into tax-free cash flow without having to make any monthly payments on the "cash out loan" proceeds until the homeowner either moves from the home, sells the home or becomes deceased, in which case the home is then sold and the principal and interest owed on the loan is repaid from the sale proceeds. One Reverse Mortgage was founded in 2001, operates in 48 states across the U.S. One Reverse Mortgage is a Quicken Loans company, which means we have a combined 33 years of mortgage experience. For more information visit: www.onereversemortgage.com.
About Quicken Loans Inc.:
Quicken Loans Inc. is the nation's largest online home lender and a top five retail lender. The company closed a record $30 billion in retail home loan volume across all 50 states in 2011. Quicken Loans generates loan production from five web centers located in Detroit, Ohio and Arizona. The company also operates a centralized loan processing facility in Detroit, as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked #1 in customer satisfaction among all home mortgage lenders in the United States by J.D. Power and Associates in 2010 and 2011. "QuickenLoans.com" has been named "Best of the Web" by Forbes and Money magazines. The company ranked in the Top 10 of FORTUNE magazine's "100 Best Companies To Work For" in 2012 and has placed among the top-30 companies on FORTUNE's list for the past nine years. It ranked in the Top-15 of Computerworld magazine's "100 Best Places to Work In Technology" for seven years in a row.
Quicken Loans was named #1 in the Detroit Free Press' 'Best Places to Work in Michigan' List in 2010 and 2011. The company moved its headquarters and 3,700 of its more than 5,000 team members to downtown Detroit. Another 1,000 team members are expected to move to downtown Detroit in mid 2012. For more information about Quicken Loans, please visit us on the web at www.quickenloans.com, on Twitter at @QLnews, and on Facebook at www.facebook.com/QuickenLoans.
SOURCE One Reverse Mortgage LLC