One Reverse Mortgage Halts All Loan Origination Operations

One Reverse Mortgage Halts All New Originations And Transfers 500 Employees 

one reverse mortgage halts
One Reverse Mortgage halts all new originations!
Quicken Loans announced this week it was halting all originations at One Reverse Mortgage. The company is shifting all of the company’s employees over to Rocket Mortgage. One Reverse Mortgage is one of the biggest reverse mortgage companies in the nation.
ORM told Housingwire that they will cease originating new reverse mortgages and all of the company’s employees will move to Rocket Mortgage.
The company said the decision comes as the result of “shifting demand” for reverse mortgages.
Quicken says their reverse mortgage business has dropped off. Whereas, they also stated that its Rocket Mortgage brand continues to grow.  As a result, they made the decision to pause reverse mortgage originations. Employees will also be offered positions with Rocket Mortgage.

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