SAN DIEGO, Calif. /California Newswire/ — ReverseVision, Inc. today announced the addition of appraisal services from Landmark Network to the ReverseVision Reverse Loan Origination System (RLOS) platform. The addition of Landmark Network's appraisal service enables ReverseVision users to simply order an appraisal with the click of a button. ReverseVision's RLOS offers a library of tightly integrated services that streamline the reverse lending process.
"Appraisals are a critical element of mortgage finance generally speaking, and especially for reverse mortgages. Landmark is one of the most widely used appraisal services in the reverse mortgage space, and our clients will really benefit from this one-click integration," said John Button, President and CEO of ReverseVision. "Faster workflow with fewer errors is an excellent benefit to our customers."
"Being able to connect Landmark appraisal orders, and get real-time status back in ReverseVision, is sure to help clients provide a higher level of customer service to their originators and borrowers," Button added.
Not only does the integration place the order, but also it automatically updates the loan record with details from Landmark as the appraisal is being processed. Tight appraisal integration in the RLOS plays an important role in supporting compliant reverse lending processes.
Cited in the January issue of The Reverse Review, the shrinking pool of qualified appraisers can create obstacles for reverse mortgage loan originations: "…in Montana, for example. There, six-week turnaround times and $800 fees are the standard, simply because there are more transactions than certified appraisers and the closest appraiser might be 100 miles away." ( www.reversereview.com/magazine/feature-the-appraisal-problem.html ). Reverse lenders that originate through the ReverseVision RLOS platform can avoid the impact of appraiser scarcity, high costs and delayed turnaround time through its Landmark Network integration.
"Being able to order an appraisal from us, and then have the status and results automatically feedback into ReverseVision is a powerful tool for our clients," said Erik Richard, Landmark Network's Chief Executive Officer. "Users will be able to spend more time focusing on core tasks and less time tracking their appraisal submissions."
The integrated appraisal service also stores both the final appraisal and the appraisal invoice within ReverseVision (attached directly to the loan).
ReverseVision, Inc. ( http://reversevision.com/ ) 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 than all other systems 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 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.
About Landmark Network:
Landmark Network ( http://www.landmarknetwork.com/ ) is a Los Angeles-based appraisal management company that offers a wide range of national valuation solutions. With branch offices in Boston and New Jersey and an east coast operations center in Maine, Landmark stands apart by paying premium rates and selecting appraisers based on the specifics of each assignment. Landmark is the largest provider of appraisal services for the reverse mortgage industry and was awarded Best Appraisal Management Company in 2011 and 2012 by Reverse Mortgage Daily.
Most recently Landmark has also been named as one of Inc. Magazine's Fastest Growing Companies in both 2012 and 2013. Landmark's alternative valuations division provides an array of valuation tools including the patent-pending TriMerge BPO(TM) report and in 2011, the company launched Landmark QCS, a compliance and post-closing audit service for mortgage lenders.
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