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One Mortgage Network provides reverse mortgages that let homeowners aged 62 and older turn home equity into cash.
Founded in 2001 in San Diego, US, One Mortgage Network LLC originates reverse mortgages and earns fees from origination, closing costs and service fees. Borrowers can convert part of their home equity into cash without monthly mortgage payments. In January 2008 the company was acquired by Quicken Loans Inc and RockBridge Equity Partners LLC, with terms not disclosed. The company has completed one deal to date.
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