SAN DIEGO, Calif., April 4, 2017 (SEND2PRESS NEWSWIRE) — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, today announced that Atlantic Coast Mortgage (ACM) has selected RV Exchange (RVX) loan origination software (LOS) to support its new home-equity conversion mortgage (HECM) division.<\/p>\n
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\nFounded in 2011 by mortgage industry veterans, ACM is a privately-held mortgage lender serving seven states in the Mid-Atlantic region. The company hired Senior Vice President Craig Minton, formerly of Bank of America and Wells Fargo, to establish a new HECM division with a special focus on the HECM for Purchase product. HECM for Purchase is an FHA-insured reverse mortgage program through which qualified borrowers can purchase a home with no required monthly mortgage payment.<\/p>\n
\u201cWhether it be to purchase a new home or refinance an existing home, the reverse mortgage loan is an excellent addition to ACM\u2019s portfolio of quality loan products that help borrowers achieve their financial and homeownership dreams,\u201d said Minton. \u201cOur dedicated reverse mortgage consultants will work closely with our experienced team of traditional loan officers and real estate agent partners to serve the needs of our senior clients.\u201d<\/p>\n
\u201cAtlantic Coast Mortgage is a highly respected and growing regional lender, and we are delighted to facilitate their entry into the reverse mortgage business,\u201d said ReverseVision Vice President of Sales and Marketing Wendy Peel. \u201cThe ACM team will benefit from technology that supports the entire reverse mortgage process from end to end, and its customers will gain access to a home-equity option that opens new doors for purchasing a home or extending retirement income.\u201d<\/p>\n
ReverseVision\u2019s RVX 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, encompassing everything from point-of-sale, processing, underwriting, funding and post-closing to secondary marketing.<\/p>\n
\u201cRVX is a very user-friendly software, which is why it\u2019s the go-to technology for the reverse mortgage industry. My past experiences using RVX were incredibly positive, so it\u2019s the software I recommended we use at ACM,\u201d Minton said.<\/p>\n
ReverseVision\u2019s Professional Services team traveled to ACM\u2019s Fairfax, Virginia, headquarters to oversee turnkey integration of RVX into ACM\u2019s origination software over the course of just two days.<\/p>\n
ACM plans to grow its dedicated team of reverse mortgage consultants and is actively seeking loan officers with HECM origination experience.<\/p>\n
\u201cWhat sets us apart from most of our competitors is the level of service we deliver to senior clients,\u201d said Minton. \u201cOur reverse mortgage consultants provide in-home consultations to each client so they can feel comfortable in their own setting while learning about the reverse mortgage loan program.\u201d<\/p>\n
\u201cOur senior population is healthier and as a result is living longer,\u201d Minton continued. \u201cThe biggest concern among seniors is not dying \u2014 it\u2019s running out of money. For many seniors, the reverse mortgage is a safe and effective strategy to assist in funding their retirement.\u201d<\/p>\n
About ReverseVision:<\/strong> 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.<\/p>\n
\nRecognized as a Deloitte’s 2015 Technology Fast 500\u2122 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.<\/p>\n