SAN DIEGO, Calif. /California Newswire/ — ReverseVision, Inc., the leading provider of software and technology for the reverse mortgage industry, today announced that Kiel Mortgage has chosen RV Exchange (RVX) loan origination software (LOS) to power its home-equity conversion mortgage (HECM) division.
Founded three decades ago by a husband-and-wife team, Kiel Mortgage is a privately-held mortgage lender serving three states in the Pacific Northwest region. After originating a handful of HECMs over the years, Kiel Mortgage Co-founder Laura Kiel decided to add HECMs as a permanent part of Kiel Mortgage’s product line and created a reverse lending division under her supervision.
“Even before establishing our reverse mortgage division, we were originating a few HECMs per year. With each transaction, we saw how helpful this product is and how much comfort and peace of mind it brings to borrowers,” Kiel said. “Once HUD revamped the HECM program to offer even greater borrower benefits and security, we knew HECMs would become an important opportunity for many people over the age of 62 and decided to establish a specialty in reverse mortgages.”
Committed to educating the Pacific Northwest on all things HECM, Kiel makes a monthly appearance on “Aging Options,” a radio show that focuses on a wide range of issues affecting seniors. Hosted by an elder law attorney, “Aging Options” is the number one-rated Saturday morning radio program in the Seattle area. In addition, Kiel Mortgage hosts its own weekly radio show on Sundays to educate listeners on the Seattle-area housing market and answer questions on real estate financing options, including HECMs.
“As both a dedicated originator of HECM loans and passionate advocate for borrower and industry education, Kiel Mortgage represents the very best in reverse mortgage lending. We are thrilled to help facilitate their growth in the reverse mortgage space,” said ReverseVision Vice President of Sales and Marketing Wendy Peel. “With product-specific technology from ReverseVision, Kiel Mortgage is well placed to continue expansion of its reverse mortgage division and offer seniors in the Pacific Northwest options for purchasing a home or aging in place comfortably.”
RVX, ReverseVision’s flagship product, provides a single platform in which all participants in the reverse mortgage lifecycle can connect to exchange documents and data for each part of the origination process. The system also encompasses functionality to power a lender’s entire reverse mortgage operations, including point-of-sale, processing, underwriting, funding, post-closing and secondary marketing.
“All of the investors we work with use RVX, so it made total sense for us to deploy it as our reverse LOS. We didn’t even consider another option,” Kiel said.
To support Kiel Mortgage’s implementation of RVX, ReverseVision’s Professional Services team conducted on-site installation and training at the lender’s Renton, Washington, headquarters over the course of two days.
Having recently expanded its reverse mortgage division to include dedicated personnel in California, Kiel says the company plans to add additional staff in Oregon to support its HECM origination efforts.
“Reverse mortgages are truly an emerging market; it’s a specialized product that requires dedicated attention and care,” Kiel added. “Thanks in part to our education efforts, we’re seeing a dramatic, positive shift in the perception of reverse mortgages in our area.”
ReverseVision, Inc. is the leading software and technology provider for the reverse mortgage industry, offering products and services focused exclusively on the home-equity conversion mortgage (HECM) and related reverse mortgage programs. With nearly 10,000 active users, ReverseVision technology supports more reverse mortgage transactions than all other systems combined. The company’s comprehensive product suite also includes reverse mortgage sales and education tools and a dedicated professional services team. ReverseVision partners with some of the finest and fastest-growing banks, credit unions and lending organizations in the United States to provide its reverse mortgage technology to brokers, correspondents, lenders and investors.
A 2017 HousingWire TECH100(TM) company, ReverseVision has also been recognized in Deloitte’s Technology Fast 500(TM) listing. ReverseVision’s annual user conference, the only event of its kind in the industry, brings together more than 200 lenders, vendors and educators each year to advance reverse mortgage lending. The company continues to build on its technology’s pioneering capabilities with frequent enhancements aimed at boosting users’ reverse mortgage volume, workflow efficiency and data analysis capabilities.
For more information, visit http://www.reversevision.com.
About Kiel Mortgage:
Headquartered in Renton, Washington, Kiel Mortgage is a privately-held mortgage lender that has been originating mortgages in the great Pacific Northwest for over three decades. Its highly trained and supportive team members are committed to building strong client relationships by listening to individual needs and shaping mortgage programs that are specifically tailored to meet individual needs and goals.
For more information, visit https://www.kielmortgage.com/.
News Source: ReverseVision Inc.