SAN DIEGO, Calif. /California Newswire/ — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, has partnered with Factual Data to provide integrated credit reporting solutions to users of RV Exchange (RVX) loan origination software (LOS). Credit information supplied by Factual Data is available in RVX as of the system’s most recent update on April 18.
“Integrating with ReverseVision gives Factual Data the opportunity to help our mutual customers access the critical data they need. Lenders will have the ability to build efficiencies that allow them to proceed quickly and confidently through the lending process,” said Factual Data Senior Vice President of Sales Jay Giesen.
Loveland, Colorado-based Factual Data provides independent verification of credit, income and other loan qualification data for the mortgage industry. Founded in 1985, Factual Data is a trusted name in risk mitigation and provides data verification for top lenders in the United States.
“Through our partnership with Factual Data, RVX users will enjoy streamlined access to the critical credit information they need to identify qualified borrowers,” said ReverseVision Vice President of Sales and Marketing Wendy Peel.
RVX is San Diego, California-based ReverseVision’s flagship product. The LOS 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.
Factual Data makes it easy for RVX users to request additional details when questions arise about a borrower’s credit report. Without leaving RVX, users can quickly and easily order supplemental credit information, such as updated tradeline or payment histories, from the relevant creditor.
“While a borrower’s ability to qualify for a reverse mortgage does not hinge on his or her numerical credit score, the new Financial Assessment rules require reverse mortgage lenders to carefully consider the borrower’s ability to meet financial obligations,” Peel said. “That’s why offering lenders the ability to order credit supplements from within RVX is such a critical advantage of this integration.”
About Factual Data:
Factual Data is a trusted provider of credit, risk mitigation, flood and verification services to the mortgage lending industry. Leveraging innovative technology and deep industry experience, Factual Data simplifies the mortgage lending process for its customers.
For more information, visit https://www.factualdata.com/.
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/.