SAN DIEGO, Calif., June 13, 2019 (SEND2PRESS NEWSWIRE) — ReverseVision, the leading provider of technology and training for the Home Equity Conversion Mortgage (HECM) industry, today announced that Hometown Lenders has implemented ReverseVision’s HECM and proprietary reverse loan origination technology to support the launch of the independent mortgage bank’s HECM lending channel.
With more than 80 branches across 38 states, Hometown Lenders implemented ReverseVision’s RV Exchange (RVX) loan origination system (LOS) and ReverseVision Sales Accelerator (RVSA) to support the launch and growth of HECM and proprietary reverse mortgage products in-house.
According to mortgage industry veteran David Weinstein, who was recently tapped by Hometown Lenders as national HECM manager, the independent mortgage bank’s vision is to build one of the nation’s most elite HECM lending divisions. Said Weinstein, “The senior leadership team at Hometown has tasked me with architecting a HECM channel capable of supporting the development of an eminent HECM lender – and I feel that ReverseVision is a critical part of that success.”
Since joining Hometown Lenders, Weinstein has spearheaded a holistic HECM outreach campaign to educate borrower-facing players in the housing ecosystem – including realtors, financial planners, builders and Hometown’s internal sales staff – about how borrowers can leverage benefits unique the HECM product, such as the ability to not make principal mortgage payments or HECM for purchase.
“Adding HECM and reverse mortgage products is part of our lending institution’s larger strategy to provide a fully-rounded suite of products for our originators and third-party partners to succeed in helping borrowers achieve their home-ownership and financial goals,” said Weinstein. “And an important part of facilitating a mutually successful lending experience is outfitting our team with leading technology.”
Since implementing RVX, Weinstein has leveraged the platform to develop investor relationships to introduce proprietary reverse products to new states. Additionally, those proprietary products have been configured for seamless integration in RVX’s powerful origination workflow.
“ReverseVision is the one place we can go to and have all the products that we need,” said Weinstein. “This allows us to deliver consistently outstanding customer service across all of our branches, while being able to promote HECM and proprietary products through one portal.”
Used by all of the top-ten producing HECM lenders, RVX serves as a central platform for participants in the reverse mortgage lifecycle to share documents and exchange information across the loan process. From the point-of-sale to post-closing and secondary marketing, RVX instantly connects borrowers, loan officers, service providers, branch managers and investors to the right party at the right time.
“ReverseVision is proud to support Hometown Lenders as it strives to more fully meet the financial and retirement goals of its senior borrowers with a HECM lending channel,” said ReverseVision Vice President of Sales and Marketing Wendy Peel. “Hometown serves as an example of how a large lender can successfully integrate HECM and reverse lines into their business model.”
About Hometown Lenders, Inc.
Hometown Lenders, Inc. is a Huntsville, Alabama-based, multi-channel mortgage lender that operates from the core belief that exceeding borrower expectations is the only way to do business. Hometown delivers on a pledge of excellence by leveraging unsurpassed customer service and leading-edge technology to provide the most innovative and creative mortgage financing solutions available. Hometown offers a complete range of conforming, non-conforming and government loan programs, as well as a variety of other options to help borrowers successfully budget their mortgage. For more information, visit https://htlenders.com/.
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 is used by 10 out of 10 top reverse mortgage lenders and 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 four-time HousingWire TECH100™ company, ReverseVision has also been recognized in Deloitte’s Technology Fast 500™ listing. 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 https://www.reversevision.com/.
News Source: ReverseVision Inc.