When Jesse Allen arrived at Rate in late 2024 to lead its reverse mortgage division, he was immediately tasked with continuing the growth trajectory for the Chicago-based mortgage lending giant.

Rate has long been a leading forward mortgage lender, ranking No. 9 nationally in 2025 with $45.6 billion in volume, according to Inside Mortgage Finance. Its place in the reverse lending landscape is relatively small, with the company endorsing 235 Home Equity Conversion Mortgages (HECMs) in 2025, good for 17th in the country, Reverse Market Insight reported. Still, that represented 54% growth from the prior year.

Allen, a longtime reverse details ⇒

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