Jesse Q. Allen has joined national mortgage lender Rate as president of its reverse mortgage division while Greg Pahel has joined the lender as executive vice president consumer direct reverse lending.
Allen has decades of industry leadership experience and a proven track record of launching and growing successful teams. He formerly served as president of Reverse at OneTrust Home Loans and brings over 35 years of experience in financial services, including an extensive background in reverse mortgages.
Allen has held several senior-level positions at leading financial institutions, including American Advisors Group, and as head of Bank of America’s reverse mortgage business, which grew from a startup to one of the largest platforms in the history of the industry.
Pahel has more than a decade of experience in reverse lending. Known for building and executing high-performance sales strategies, he has been a driving force behind some of the industry’s most successful consumer direct sales platforms. Before joining Rate, Pahel served as head of national retail sales at Nations Direct Mortgage and held key leadership roles at prominent financial institutions, including American Advisors Group, where he consistently exceeded growth targets and led teams to unprecedented levels of performance.
Together, Allen and Pahel will lead Rate’s efforts to expand its reverse mortgage business, catering specifically to homeowners aged 55 and above.
These appointments underscore Rate’s commitment to enhancing financial solutions tailored to the unique needs of this demographic, empowering them to leverage their home equity for a more comfortable and secure retirement.
“Jesse brings a wealth of experience and a remarkable track record of success in the reverse mortgage space,” says Victor Ciardelli, CEO of Rate, in a release. “His leadership aligns perfectly with Rate’s vision of providing innovative solutions that truly meet the needs of homeowners seeking financial flexibility in retirement.”
“With Jesse running our reverse mortgage division and Greg establishing and growing our consumer-direct model, we are well-positioned to become a leader in this growing market,” Ciardelli adds.