Reverse Mortgage Jobs at Quicken?

I am wondering if any of these positions will be for their Reverse Mortgage operations…

Quicken Loans Inc., the nation’s largest online lender, is hosting a career fair on Saturday, September 17, 2011 from 10 a.m. to 1 p.m. at its Detroit headquarters inside the Compuware Building. The company is seeking to hire more than 500 team members for several areas of the business including mortgage banking, marketing, technology and more.

A listing of available positions can be found at http://www.quickenloanscareers.com.

The company also operates a centralized loan processing facility in Michigan as well as its San Diego-based One Reverse Mortgage unit.

Source: DigitalJournal.com

Here are some Advantages of a Reverse Mortgage

Reverse Mortgages offer seniors the ability to access the equity in their homes so that they may age in place, improve the quality of their lives and live a more fulfilling retirement. Seniors 62 or older can convert part of the equity in their home into tax-free income without selling the home or giving up title. Borrowers can use the funds any way they wish and they make no payments on a reverse mortgage during the life of the loan.

Since you are not required to make payments, the risk of losing your home for not making payments is removed.
There are no income, health, or credit qualifications needed. Rather than making payments the mortgage is paid off when the home is no longer the primary residence of the borrower.
As a non-recourse loan, the borrowers are never required to pay more than the home is worth.
The older a person is the more one can access.
When using the HECM line of credit option, the unused portion of the line of credit grows.
The proceeds are tax free* and Social Security and Medicare are not affected. *Consult a tax advisor.
An important consumer safeguard is the FHA requirement that the borrower obtain third party counseling.
There are no restrictions on how the proceeds can be used.
You can stay in your home as long as you choose and access the cash now.

Now you can even use a reverse mortgage to purchase a home, perfect for thode who are thinking about downsizing.

It feels like it has been a few years since the popular Financial Freedom Jumbo loan was discountinued.

Here is some news about the new jumbo product from Generation Mortgage.

The product is tailored specifically for seniors whose homes appraise higher than than $1,000,000 said the company.

“Many owners of higher-valued homes find themselves in the position of being house rich and cash poor,” said Jeff Lewis, Chairman of Generation Mortgage. “With our Plus loan, these owners can receive the liquidity they require without having to sell their home or other assets. And, with an improving real estate market, this offering becomes even more attractive.”

According to the company, the minimum home value eligible is $500,000.  Borrowers are required to receive a HECM counseling certificate in order to obtain the loan and the product includes a $25 servicing fee (not a set aside).  Additionally, seniors can use the Prime to purchase a home.

When we have more details and a calculator we will post them here…

In the meantime, simply call 1-888-823-6125 to speak with an expert.