SAN DIEGO, Calif. /California Newswire/ — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, today announced that Utah-based Box Home Loans (Box) has selected ReverseVision Exchange (RVX) loan origination system (LOS) to support its new reverse mortgage origination business.
An independent mortgage banker for more than a decade, Box leverages its highly efficient, technology-enabled business model to offer borrowers a tailored selection of suitable and competitively priced loan options. The lender launched its reverse mortgage origination unit in September. Reverse mortgage industry veteran and home-equity conversion mortgage (HECM) specialist Stan Francom will oversee the new unit, which will have a special focus on the HECM for Purchase, a loan product that allows older borrowers to buy their new principal residence and obtain a reverse mortgage within a single transaction.
“Huge numbers of Baby Boomers are rapidly approaching retirement and looking for ways to stretch their savings,” said Box Home Loans senior vice president McKay Shoell. “Soon, it will be commonplace for consumers and financial planners to consider home-equity options like HECM as part of their financial approach to retirement along with income, social security and retirement.”
According to Shoell, the availability of a high-performance reverse mortgage LOS factored into Box’s decision to begin offering HECM products.
“ReverseVision Exchange is the de facto industry standard,” said Box Home Loans HECM Specialist Stan Francom. “We’re extremely excited to be partners with ReverseVision and benefit from their depth of knowledge and customer support. They have one of the most educated and professional teams in the industry.”
“Box Home Loans is getting into reverse mortgages at the right time and with the right approach by putting the borrower’s needs first and engaging technology to improve the transaction from end to end,” said ReverseVision Vice President of Professional Services Jeffrey Birdsell, CMB. “Armed with RVX and their own quality-first capabilities, Box Home Loans is equipped to charge into the future of reverse mortgage lending.”
Recognized as a Deloitte’s 2015 Technology Fast 500(TM) company, ReverseVision is the leading software and technology provider for the reverse mortgage industry and offers products and services focused exclusively on reverse mortgages. More reverse mortgages are originated monthly using ReverseVision technology than all other reverse mortgage loan origination systems combined. ReverseVision has partnered with some of the finest and fastest-growing lending organizations in the United States to provide its leading reverse mortgage technology to brokers, correspondents, lenders and investors.
ReverseVision is 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/.
News Source: ReverseVision Inc.