SAN DIEGO, Calif. /California Newswire/ — ReverseVision, Inc., the leading provider of software and technology for the reverse mortgage industry, today announced that mortgage industry expert Rob Chrisman will address attendees of RV UserCon 2017 as a special session speaker on February 9 in San Diego. According to Chrisman, market conditions are ripe for traditional “forward” lenders to consider adding new products, including reverse mortgages, to their portfolios.
“At times like this, with rising interest rates beginning to squeeze volumes and profit margins, mortgage companies are turning their attention to product diversification,” Chrisman said. “At the same time, 10,000 Americans turn 62 every day. Demographics like that are hard to ignore. Mortgage managers need to take a look at reverse mortages that serve this population alongside ARMs, jumbo loans, non-QM lending and other products they are considering adding to their mix.”
“Rob is one of the mortgage banking industry’s most esteemed voices. We are thrilled to bring his perspective and decades of experience in forward lending to our conference attendees,” said ReverseVision Vice President of Sales and Marketing Wendy Peel.
Chrisman’s session, part of ReverseVision’s second annual user conference held February 8-10 at the San Diego Hilton Resort and Spa, will address common questions traditional lenders have about the reverse mortgage business, how new lenders entering the space could benefit reverse professionals and the potential affects these lenders may have on the industry in 2017.
“Lenders’ chief concerns are how the product helps their customers and how to profitably originate reverse mortgages in a compliant manner that doesn’t subject them to public or regulatory scrutiny,” said Chrisman. “As mortgage banker portfolio managers consider this product, they need to understand that traditional measures of forward lending don’t really apply. With reverse mortgages, three or four loans a month can be a great month for a loan officer. It’s all about the margins.”
What that means, according to Peel, is that it’s relatively easy, from a technology and training perspective, for a traditional lender to improve its bottom line by creating a reverse marketing division with just a few loan officers specializing in the product.
“Traditional mortgage bankers have a rich database of potential HECM clients. By partnering with experienced reverse mortgage lenders, they can tap into that potential and easily jumpstart a revenue center,” said Peel.
A residential lending professional with over 30 years of experience, Chrisman is publisher of Daily Mortgage News and Commentary ( http://www.robchrisman.com/ ). Chrisman’s commentary, delivered daily as an email newsletter to 50,000 subscribers, is informed by his experience as president of OnCall Mortgage, later acquired by Wells Fargo. He also served as director of secondary marketing for CMG Mortgage and director of capital markets for RPM Mortgage.
Chrisman serves on the boards of AXIS Appraisal Management Solutions, Peoples Bank, Inheritance Funding Corporation, International City Mortgage and the California Mortgage Bankers Association.
Recognized as a Deloitte’s 2015 Technology Fast 500(TM) Company, 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 technology than all other reverse mortgage LOS combined. ReverseVision has partnered with some of the finest and fastest-growing lending organizations in the U.S. 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 its software with frequent new innovations and by building on pioneering capabilities in reverse mortgage interactive graphs, scenario analysis, multi-environment performance analysis and workflow in the origination process.
For more information, visit http://www.reversevision.com/.
News Source: ReverseVision Inc.