Blending HECM and private reverse lending technology with forward lending platforms ‘an operationally pragmatic approach to reverse home equity products’
SAN DIEGO, Calif. /California Newswire/ — ReverseVision, the leading provider of Home Equity Conversion Mortgage (HECM) and private reverse mortgage sales and origination technology, today announced its transformation as an API-enabled flexible reverse lending platform, unveiling a new logo as part of its revised mission and rebranding.
ReverseVision technology supports more reverse mortgage transactions than all other systems combined. Its revised approach and associated system updates reflect ReverseVision’s commitment to evolving platform functionality and equipping every lender-forward and reverse-with tools to easily integrate HECM and private reverse mortgages into the loan evaluation, sales and origination process for every applicable senior borrower.
“The ReverseVision platform is transforming to enable a broader range of implementations matching lenders’ business models. We are enabling all lenders to meet borrowers where they are in life,” said ReverseVision Vice President of Sales and Marketing Wendy Peel. “Our revised API-enabled platform offers an operationally pragmatic approach to reverse home equity products.”
“By providing open APIs that accelerate connectivity with all mortgage lending and retirement planning systems, we are powering greater integration and use of reverse lending in the mortgage ecosystem. New technology partnerships with leading digital mortgage firms will greatly expand presentation and demand for reverse lending. We seek to put tools in the hands of every lender that wants to create borrowers for life with a comprehensive Generational Lending strategy,” added Peel.
Initial system capabilities provided by the revised platform include:
* Loan Import API
The development of a loan import API enables any system to programmatically create and prepopulate a reverse loan file within ReverseVision Exchange (RVX). Common system sources include customer relationship management (CRM) systems, point-of-sale solutions, forward loan origination system (LOS) or other third-party software. The loan import API saves LOs from retyping information into multiple systems by automatically importing relevant borrower data fields into RVX at the touch of a button.
* Streamlined product selection within RVX
An update to ReverseVision Administrator (RVA) simplifies the loan program selection menu, improving the loan selection process for LOs.
* Simplified attachments and docs packaging
Available in 2020 ReverseVision users will be able to build a list of documents to be attached to a loan via a single request, significantly reducing the time it takes to attach multiple documents to a loan file.
* Comparison Calculator API
Due to the popularity of RVSA’s Comparison Calculators, ReverseVision will release an accompanying API in 2020. The Comparison Calculator API will allow lenders to place ReverseVision’s acclaimed Comparison Calculators into their own point-of-sale solution, LOS, CRM, website or mobile app, to provide borrowers and LOs with a visually interactive tool for comparing HECMs and private reverse loans against home equity lines of credit (HELOCs) and traditional first- and second-lien mortgages.
These capabilities are made possible by an all new cloud computing based platform that operates in concert with the classic core RVX origination system. The new architecture enables significantly more flexibility for interaction with other systems and improved scalability while retaining comprehensive reverse origination features. The approach avoids the need for lenders to implement an all new system to exploit a growing set of integrated capabilities. In turn, ReverseVision customers can exploit these new APIs for internal integration and development efforts.
“HECM and private reverse programs have undergone massive transformations and so has our technology,” said ReverseVision President and CEO John Button. “ReverseVision’s improved capacity for technology coexistence will help all lenders meet borrowers where they are in life and better serve the unique financial needs of senior customers.”
ReverseVision’s updated visual identity is accompanied by the new tagline, “Rethink. Remortgage. Retire.” Additionally, product logos for RVX, ReverseVision Sales Accelerator (RVSA), ReverseVision Database (RVDB), ReverseVision Pro Services (RVPS) and ReverseVision University (RVU) have been refreshed to reflect the rebrand.
About ReverseVision
ReverseVision, Inc. is the leading Home Equity Conversion Mortgage (HECM) and private reverse mortgage sales and origination technology platform, supporting more reverse mortgage transactions than all other systems combined. The company’s comprehensive product suite flexes to lenders’ unique business and operational models, connecting all lending participants across the entire reverse mortgage lifecycle to meet borrowers where they are in life. A four-time HousingWire TECH100(TM) company, ReverseVision continues to build on its technology’s pioneering capabilities with frequent enhancements aimed at boosting users’ reverse mortgage volume and workflow efficiency.
For more information, visit https://www.reversevision.com/.
Twitter: @reversevision #digitalmortgage #HECM
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Learn More: https://www.reversevision.com/
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