SAN DIEGO, Calif. /California Newswire/ — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, has forged a partnership with Skyline Financial Corp. (Skyline Home Loans and NewLeaf Lending) to support the lender’s growing reverse mortgage division with RV Exchange (RVX) loan origination technology and RV University (RVU) training programs.
One of the nation’s top 50 mortgage lenders and a leading national issuer of Ginnie Mae securities, Skyline has originated a modest number of FHA-insured home-equity conversion mortgages (HECMs) over the years, mostly on a hybrid correspondent basis. According to industry veteran and recently appointed Division Vice President Joe Renner, Skyline is now ready to focus on becoming a full-fledged reverse mortgage lender.
“The home-equity conversion mortgage is often overlooked as a viable home-equity alternative, and it’s especially underutilized as a means of purchasing a home. By growing our retail efforts and expanding HECM products to our wholesale channel, we can better serve the needs of Skyline customers,” said Rinner. “Getting the right technology and training from ReverseVision was our first step.”
ReverseVision’s RVX serves as a centralized exchange, connecting all participants in the lifecycle of a reverse mortgage and allowing them to log in to a single system to share documents and information for each part of the loan process. The system encompasses everything from point-of-sale, processing and underwriting to funding, post-closing and secondary marketing.
“ReverseVision is proud to support a lender of Skyline’s size and influence in making HECM loans available to more consumers,” said Wendy Peel, vice president of sales and marketing for ReverseVision. “Skyline serves as the model for how large lenders can leverage an established network of traditional loan officers to create a thriving reverse mortgage line of business.”
ReverseVision also offers live and online training programs through its RVU education platform, including a three-day course specifically designed to help companies like Skyline that have yet to establish their own HECM training accelerate the origination process.
Patrick Trolley, a mortgage planner and senior account executive with Skyline and NewLeaf, attended ReverseVision’s accelerated loan originator training in April. An experienced traditional lender, Tromley had no specific knowledge of reverse mortgage lending. He enrolled in the training not only to springboard his own HECM origination efforts, but to better support his network of broker clientele.
“It was a great experience. I learned a lot and left the training feeling confident enough to line up two leads within a week,” said Tromley. “I would recommend this training to anyone who is contemplating getting into the HECM space.”
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 Skyline Home Loans/NewLeaf Lending:
Skyline Financial Corp. is a full-service, direct mortgage lender based in Calabasas, California. It operates as a retail lender under the name of Skyline Home Loans and is in the wholesale space as NewLeaf Lending. Consistently ranked one of Mortgage Executive Magazine’s top 50 mortgage companies, Skyline has been in business for over 30 years. With more than 40 branches throughout the nation and nearly 600 employees, the company’s mission statement is to” put the power of the home mortgage in the hands of our customer, through human connection, trust and our intelligent mortgage platform.”
News Source: ReverseVision Inc.