Open Mortgage Celebrates 15 Years in Business
AUSTIN, Texas, Jan. 11, 2018 /PRNewswire/ — Open Mortgage celebrates its 15-year anniversary this month. Headquartered in Austin, Texas, the company was founded on January 5, 2003 by software engineer and serial entrepreneur, Scott Gordon.
“The company is a culmination of my experience in the technology and banking industries,” says Gordon. “The mortgage industry was also one that I believed could use more transparency and efficiency, so I built a company with those in mind.”
Since its inception, Open Mortgage has grown from three employees to 80 branches in 46 states, serving thousands of clients annually, with projected lending of about one billion dollars in 2018.
Open Mortgage saw a growth spurt in 2005-06 as it expanded to 13 states, moving from broker to banker in 2007. Though, just around the corner was the mortgage meltdown of 2008.
Gordon credits the company’s strong emphasis on compliance as a factor in weathering the downturn. Emerging stronger than ever, Open Mortgage started originating reverse mortgages in 2011, became a wholesale lender in 2014, is a direct lender with Fannie Mae as of 2016, now serving 46 states.
ABOUT OPEN MORTGAGE:
Open Mortgage is a multi-channel mortgage lender committed to providing retail and partner loan officers extensive training and support. Founded in 2003, Open Mortgage is headquartered in Austin, TX and has retail locations nationwide.