To help our members get to know one another, NRMLA publishes periodic member spotlights featuring professionals from across the reverse mortgage ecosystem. Meet Jesse Allen, President of Retail Reverse Mortgage Lending at Rate, Chicago, IL.
A transformational leader with extensive experience in financial services and community engagement, Jesse is known for building high-performing teams and driving sustainable value for clients and stakeholders.
- His core leadership principles: work smart and hard, operate with passionate confidence and a growth mindset, and lead with accountability and compassion.
Prior to joining Rate, Jesse served as President of Reverse Mortgage Lending with OneTrust Home Loans and EVP of External Production at American Advisors Group. He also ran the reverse mortgage division at Bank of America.
How did you get into the reverse mortgage world?
A passion for personal growth and making an impact led me into the reverse mortgage space. Growing up in a small, blue-collar town about 60 miles outside of New Orleans, I learned the value of hard work, connecting with people, and embracing a fearless attitude toward new challenges.
Early in my career as a banker at institutionalized banks, most of the products I worked with were fairly commoditized. However, I found exceptions in areas like investments, insurance—including Savings Bank Life Insurance, which I sold early on—small business lending, and mortgage lending. These experiences, coupled with my blue-collar roots, gave me a deep appreciation for the power of information and financial products to empower people and positively influence their lives.
That foundation set the stage for me. One day, I answered a call from a headhunter, which led me to meet with the mortgage executive responsible for launching Countrywide Mortgage’s reverse business. They were searching for someone to build their field sales channel. Intrigued, I researched reverse mortgages, ran the math, and was blown away blown away by the opportunity to help scale a new specialty lending segment of the industry and meaningfully improve lives.
I left my executive role leading a team of 900 bankers and became employee #1 in our reverse mortgage retail channel. It was the start of an incredible journey.
What reverse mortgage issues/topics are you most focused on now?
Right now, I’m focused on expanding our reach, both in terms of growing awareness and building a sales force capable of delivering the unique expertise this space demands. This includes not only mortgage knowledge but also a deep understanding of serving older clients and their families, as well as familiarity with the host of macro trends shaping our communities during this tectonic demographic shift.
I’m particularly passionate about connecting the macro statistics to real human experiences—helping people understand the tangible impact that monetization of home equity can have on families, communities, and referral partners like realtors, builders, and financial advisors.
Another priority is equipping our sales force with the skills needed to navigate an increasingly complex environment. Success in this space requires a combination of authentic sales skills, technical expertise, and the ability to integrate technology effectively. My focus is on fostering a team that can bring all these elements together to deliver meaningful solutions and an exquisite experience to clients and partners alike.
What do you consider to be your greatest career accomplishment to date?
My greatest career accomplishment is closely tied to the most important career advice I give others: take on big, scary roles that push you far beyond your comfort zone. Perhaps due to my blue-collar roots, I’ve always embraced the mindset that if a job needed to be done and it was critical to the organization, I would step up—whether by volunteering or saying yes when asked.
One example is how I entered the reverse mortgage industry. Another, and perhaps the scariest role I’ve ever taken on, was leading the implementation of CFPB Mortgage Origination rules (ATR, QM, LO Comp, Appraisal Independence, etc.) across the consolidated Bank of America and Countrywide mortgage businesses and technology platforms. I stepped into the role just nine months before go-live. The short version of the story is that my first day on the job I was in flight to Charlotte reading the ATR final rule in preparation for the initial business requirement meeting and then through disciplined execution and collaboration, we not only went live successfully but also earned a stellar CFPB audit within weeks.
This assignment, though far outside my comfort zone, sharpened my regulatory, technical, and enterprise change management leadership skills 10x. Seeking out and accepting these big, challenging roles has shaped my core leadership principles: work smart and hard, operate with passionate confidence and a growth mindset, and lead with accountability and compassion.
What do you like to do in your spare time? Do you have any hobbies or pursuits?
In my spare time, I focus on self-development—physical, mental, and spiritual. I enjoy activities like practicing martial arts and hitting the gym, which help me stay disciplined and balanced. We raised a large family of seven so historically outside of work, my number one priority was staying engaged and doing that job well. Today they are older, so if I’m really lucky, I get to share a workout with one of them or talk through a business or life situation and support each other’s growth.
Why did you become a NRMLA member?
Corporate responsibility and community service have always been important to me, shaped by years of involvement on nonprofit boards and a commitment to giving back. Joining NRMLA allows me to combine my professional expertise with my passion for community service. It’s about more than just supporting the borrowers and communities we serve—it’s also about contributing to the industry as a whole. Through NRMLA, we have the opportunity to help nudge the reverse segment of the industry forward and play a role in shaping greater use of home equity as an integrated part of retirement planning.
What do you love most about working in the reverse mortgage industry?
The lifetime value of the emotional and financial benefits we help clients achieve.
