Security One To Grow Through Acquisition

Security One Lending, San Diego, has acquired Omni Reverse, Mission Viejo, Calif., in a stock transaction whose details were not disclosed. The website for Security One describes the company as specializing in the reverse mortgage product, although it apparently does forward mortgages as well and is an approved Fannie Mae seller/servicer. Torrey Larsen, president of Security One said, "The combined entity will be well positioned to compete for market share as the industry, in my opinion, experiences consolidation during the next 18 months." The company is currently licensed in 13 states and plans to be licensed in 38 by the end of the year. Until last year, Omni Reverse was known as OmniHome Financing. Its president, David Bancroft said Omni Reverse has been looking for a partner for a long time.