SAN DIEGO, Calif. /California Newswire/ — ReverseVision, Inc. announces their newest credit report partnership with CBCInnovis, a leading provider of credit and risk management solutions headquartered in Columbus, Ohio. This integration within RV Exchange (RVX), ReverseVision's flagship reverse loan origination system (RLOS) platform, increases RVX users' choice of automated credit report services.
Reverse mortgage lenders use RVX for the full lifecycle of the loan-from initial proposal through application, underwriting, closing and post-closing. Now, with Financial Assessment (FA) in place, each borrower will need to show a general credit standing of satisfactory. Credit may be used as an indicator the borrower has the ability to pay taxes and insurance on their property. Otherwise a Life Expectancy Set Aside (LESA) may need to be established for their loan. This change in policy, very similar to what is standard with a forward loan, makes the reverse loan more secure for both the borrower and the investor.
"Partnering with ReverseVision will greatly assist our clients as they adapt to the new FA requirements and help them expedite loans more efficiently by having our credit reports automatically populate within their loan applications," said Reno D'Water, Interface Account Manager for CBCInnovis.
The CBCInnovis interface is available to all RVX users who set up an account with the provider. This functionality will allow users to pull borrower's credit reports from CBCInnovis and have the data automatically populate into the credit report fields.
"CBCInnovis' proven experience, innovative technology and diverse portfolio of solutions makes them a trusted resource and excellent addition to our vendor services," said president and CEO of ReverseVision John Button.
"This is just another excellent example of how RVX is streamlining workflow for our users and improving efficiencies through our technology," said Gregg Holsapple, ReverseVision Product Manager.
About ReverseVision:
ReverseVision, Inc. is the leading software and technology provider for the reverse mortgage industry offering products and services focused exclusively on reverse mortgages. More reverse mortgages are originated monthly using ReverseVision's RV Exchange platform than all other systems combined. ReverseVision has partnered with some of the finest and fastest growing lending organizations in the US to provide the leading reverse mortgage technology to brokers, correspondents, lenders and investors. ReverseVision is recognized as a driving innovator in the reverse mortgage industry. ReverseVision continues to improve their software with frequent new innovations building on pioneering capabilities in reverse mortgage interactive graphs, scenario analysis, multi-environment performance analysis and workflow in the origination process. More information: http://www.reversevision.com/.
About CBCInnovis:
CBCInnovis offers a diverse portfolio of innovative, technology-driven mortgage lending support solutions to the financial services industry. For more than 65 years, CBCInnovis' customized, integrated services have helped lenders make sound decisions, streamline processes, reduce risk, and maximize business performance. For more information, please contact us at 877-284-8322 or visit our website at http://www.cbcinnovis.com/.
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