All About One Reverse Mortgage
Founded in 2001 and located in San Diego, California, One Reverse Mortgage is a reverse mortgage lender and a member of the National Reverse Mortgage Lenders Association (NRMLA). It’s also one of the best known brands in the industry. For those in the know, this comes as no surprise – One Reverse Mortgage was purchased by Rock Holdings in 2008, a company owned by Quicken Loans, arguably the strongest brand in the business.
Have you ever seen a mortgage commercial starring Henry Winkler, the actor who played Arthur “The Fonz / Fonzie” Fonzarelli on the television show “Happy Days”? These advertisements are for One Reverse Mortgage, and they’re some of the most recognizable within the industry. The commercials promise to help you “take control” of your retirement. The advertising is certainly well done, and many Americans have taken One Reverse Mortgage up on its offer – the company consistently ranks in the top 10 for largest reverse mortgage originators.
One Reverse Mortgage states that 98% of its customers are satisfied, and the company boasts an “A+” rating from the Better Business Bureau. One Reverse has more reviews available on the Internet than most other lenders, including a website maintained by the company itself. This is a common practice among forward mortgage companies, and with the dearth of reviews online, other lenders may be well advised to follow suit.
One Reverse Mortgage Statistics
Here is a breakdown the company’s total originations and total max claim amounts by month:
|Date||Loans||Total Max. Claim|
Since the beginning of 2015, One Reverse has originated the second most loans of any reverse mortgage lender, second only to its competitor AAG:
|AMERICAN ADVISORS GROUP||86,750|
|ONE REVERSE MORTGAGE LLC||17,104|
|REVERSE MORTGAGE FUNDING LLC||15,693|
|FINANCE OF AMERICA REVERSE LLC||12,216|
|FAIRWAY INDEPENDENT MORTGAGE CORPORATION||8,611|
|LIBERTY HOME EQUITY SOLUTIONS INC||7,725|
|MUTUAL OF OMAHA MORTGAGE INC.||7,500|
|SYNERGY ONE LENDING INC.||6,849|
|HIGH TECH LENDING INC||5,424|
|REVERSE MORTGAGE SOLUTIONS INC||5,001|
How Do We Feel About One Reverse Mortgage?
Although we have mixed feelings about celebrity driven advertising in the reverse mortgage industry, there’s very little negative press tied to One Reverse Mortgage. Its parent company, Quicken Loans, also has a stellar reputation.