has hired Live Well Financial's core team of mortgage lending executives: Bruce Barnes, Jim Cory and Joshua Moran, formerly executive vice president, senior vice president of operations and senior vice president of wholesale & correspondent lending, respectively.
Additionally, approximately 50 sales and operations employees are joining Open Mortgage to expand the company's retail, wholesale, principal agent and closed loan seller mortgage channels.
"As a top reverse mortgage lender, Live Well Financial's team has unparalleled industry expertise in all phases of reverse mortgages and a love of technology, just like us," said Scott Gordon, founder and CEO of Open Mortgage. "We are expanding the Open Mortgage family and gaining some of the brightest folks in our industry."
In early May, Live Well Financial ceased operations.
"We are looking forward to further advancing Open Mortgage as a leading retail, wholesale, principal agent and close loan buyer of reverse mortgages," said Barnes. "Since joining Live Well in 2014, we built an industry leading reverse mortgage platform funding over $5 billion in reverse loan volume. Our plan is to do this again only bigger and better."