SAN DIEGO, Calif. /California Newswire/ — ReverseVision, the leading provider of technology and training for the Home Equity Conversion Mortgage (HECM) industry, today announced that Norwich Commercial Group, Inc. – dba Norcom Mortgage (Norcom) – has selected ReverseVision as its provider of choice for end-to-end HECM technology.
In addition to ReverseVision’s flagship RV Exchange (RVX) loan origination software (LOS), Norcom has deployed RV Database (RVDB), an add-on that enables lenders to create a local “data warehouse” of pertinent reverse mortgage data, and RV Sales Accelerator (RVSA), a web-based tool that helps loan officers drive HECM loan volume.
“Over the course of my career, I’ve managed hundreds of HECM transactions using both proprietary and name-brand solutions,” said Pete Mendenhall, Certified Reverse Mortgage Professional (CRMP) and Vice President of HECM Lending for Norcom. “What I like about ReverseVision’s technology is that it gives me the ability to manage and oversee everyone who touches the loan and keep them pulling in the same direction. For example, the real-time report in RVSA gives me a birds-eye view of where my prospects are in the origination life cycle with the push of a button.”
Norcom has also leveraged ReverseVision’s integrations with Velocify’s customer relationship management (CRM) tools and Ellie Mae’s Encompass(R) LOS to streamline lead management and loan fulfillment.
“ReverseVision’s integrations deliver a lot of flexibility and time savings,” added Mendenhall. “Our traditional/forward and HECM teams can easily trade leads with one another. At the same time our HECM loan officers are working in RVX, our operations team – which is responsible for closing and funding – can work in Encompass, which they know best, without any balls getting dropped.”
Founded in 1989, Norcom is a generational lender that has grown rapidly since evolving from a mortgage broker to a mortgage lender in 2005. Working to be licensed in all 50 states, Norcom is currently licensed in 40 U.S. states plus the District of Columbia and Guam. Its team of more than 130 loan officers and 102 third-party originator (TPO) partners offers a 360-degree variety of conventional and specialized loan products, including HECMs and other equity-release programs.
“On its own, RVX is powerful origination technology that connects every participant in the lifecycle of a HECM loan – all the way to the secondary market,” said ReverseVision Vice President of Sales and Marketing Wendy Peel.
“When supported by ReverseVision’s full product suite, RVX becomes an unstoppable tool for helping lenders like Norcom Mortgage accelerate business and close more loans. We are honored to be Norcom’s provider of choice for reverse mortgage technology, and we look forward to a partnership marked by growth and success.”
ReverseVision is the leading provider of technology and training for Home Equity Conversion Mortgage (HECM) origination. With nearly 10,000 active users, ReverseVision technology is used by 10 of the top-ten reverse mortgage lenders and supports more HECM transactions than all other systems combined. The company’s comprehensive product suite also includes HECM 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 HECM 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 HECM lending. The company continues to build on its technology’s pioneering capabilities with frequent enhancements aimed at boosting users’ HECM volume, workflow efficiency and data analysis capabilities.
For more information, visit https://www.reversevision.com/.
Founded in Avon, Connecticut, in 1989, Norcom is a fast-growing generational lender serving families throughout the United States. The Norcom family offers customers a wide range of mortgage programs that fit their needs and superior customer service while placing an emphasis on speed, flexibility and low rates. The company gives back to the communities it serves through its outreach division, Norcom Cares.
For more information, visit https://norcommortgage.com/.