SAN DIEGO, Calif. /California Newswire/ — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, is pleased to announce that Tustin, California-based national mortgage lender New American Funding is expanding its reverse mortgage lending operation to 47 states using the RV Exchange (RVX) loan origination software (LOS).
ReverseVision’s flagship product, RVX serves as a centralized exchange, connecting all participants in the lifecycle of a reverse mortgage by allowing them to log in to a single system to share documents and information for each part of the loan process, encompassing everything from point-of-sale, processing, underwriting, funding and post-closing to secondary marketing. This central exchange model is unique in the mortgage industry and offers benefits to all parties that include reduced document errors, heightened information security and shorter fulfillment timelines.
Founded in 2003, New American Funding is a full-service mortgage lender that recently expanded its centralized reverse mortgage division to serve all 47 states in which New American Funding is licensed to operate. Its internal reverse mortgage lending staff serves branch office originators on the forward side with an exclusive focus on the home-equity conversion mortgage (HECM) for purchase, an FHA-insured reverse mortgage through which qualified borrowers can purchase a home with no required mortgage payment and which may enable them to create a tax-free line of credit for retirement funding.
“New American Funding selected RVX due to its simplicity, its popularity with nearly all the major lenders and its ability to integrate with our LOS as well as our enterprise CRM and lead management platform,” said Ellen Skaggs, New American Funding’s reverse national production manager. “ReverseVision was very helpful in onboarding us and worked hard to help my team create some custom modules.”
According to Skaggs, as incoming leads enter New American Funding’s proprietary CRM, they are automatically distributed to the appropriate branch. Engaging ReverseVision in the system allows leads for the reverse mortgage operation to be routed directly into RVX. Borrower data from RVX is also shared with New American Funding’s forward LOS so lenders can use its familiar interface to conduct outreach with borrowers at pre-determined relationship milestones.
“New American Funding is an exciting example of how mortgage lenders are embracing technology to enable enterprise strategies for marketing, CRM and expansion into new markets,” said John Button, CEO of ReverseVision. “ReverseVision has enjoyed the opportunity to support both its expansion of reverse mortgage lending and its commitment to an enterprise CRM strategy.”
About New American Funding:
New American Funding, a national mortgage banker licensed in 47 states, was founded by Rick and Patty Arvielo in 2003. With Rick’s expertise in marketing and technology and Patty’s extensive mortgage background, New American Funding quickly became one of the fastest-growing mortgage bankers in the industry. Today, with well over 2,100 employees, nationwide branches, a servicing portfolio of $14 billion and funding over $1 billion per month, New American Funding is at the height of its game.
At New American Funding’s mission is to provide homeowners and future homeowners a variety of home financing options at competitive rates, fulfilling their needs in a manner that enhances their standard of living and helps them realize the American Dream.
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/.