SAN DIEGO, Calif., April 20, 2017 (SEND2PRESS NEWSWIRE) — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, today announced the expansion of its RV University (RVU) education and training program with the addition of a three-day Accelerated Loan Originator Training course available live each month at ReverseVision\u2019s San Diego training facility.<\/p>\n
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\nLaunched in March, the live training course is specifically designed for loan originators and processors looking for quality Home Equity Conversion Mortgage (HECM) education and software training. Both front-line originators and managers will benefit from programming designed to accelerate the HECM origination process and position companies to achieve optimum results.<\/p>\n
ReverseVision will offer the course on a monthly basis and is currently accepting enrollment for its May and June sessions. The three-day session covers all facets of HECM education, beginning with a primer on loan structure and regulatory guidelines on day one. Day two gives students hands-on practice preparing proposals and disclosures for various origination scenarios using ReverseVision technology. On the final day of the training, attendees learn compliant and successful sales methods for describing HECM loans to a range of borrowers and referral partners.<\/p>\n
Mickey Cunningham, an experienced forward loan originator with Gateway Mortgage Group, is one of 11 students who attended the first Accelerated Loan Originator Training session in March. Gateway Mortgage Group is among the largest privately held mortgage bankers in the country.<\/p>\n
\u201cThe HECM product is unlike any other loan product I\u2019ve worked with during my 26-year career in mortgage,\u201d said Cunningham. \u201cWhile it was great to test-drive ReverseVision\u2019s excellent technology, what really stood out for me was the incredible amount of loan education. Anyone who is going to originate HECM loans needs to have this kind of training.\u201d<\/p>\n
Christina Harmes, assistant manager of C2 Financial\u2019s reverse mortgage division, also attended the session. C2 is the largest mortgage broker in California and second-largest broker in the United States.<\/p>\n
\u201cReverse mortgages will be trending for some time thanks to rising interest rates and the size of the Baby Boomer generation. There\u2019s a real need for comprehensive training to help forward loan officers learn how to originate reverse mortgages,\u201d said Harmes. \u201cIn fact, that\u2019s why I enrolled in RVU \u2014 to evaluate whether the program could be used to help C2 as we train more forward loan officers to originate HECM products.\u201c<\/p>\n
\u201cI was really pleased by the amount of information geared toward HECM newcomers and the methodical way it was delivered,\u201d Harmes continued, \u201cbut what I didn\u2019t expect is that I would learn so much myself. As a professional who\u2019s closed many reverse mortgages, it was gratifying to receive definitive answers to some more advanced questions I\u2019ve been wondering about for some time.\u201d<\/p>\n
ReverseVision has offered 24\/7 online training through its RVU platform for the last three years. RVU\u2019s online classes remain an affordable option for mortgage lenders seeking introductory and \u201crefresher\u201d HECM education. In addition, select courses qualify attendees to earn credits toward Nationwide Multi-State Licensing System (NMLS) and Certified Reverse Mortgage Professional (CRMP) continuing education requirements. The CRMP program, administered by the National Reverse Mortgage Lenders Association (NRMLA), is the highest industry credential for reverse mortgage professionals.<\/p>\n
\u201cKey regulatory changes have evolved the HECM significantly, which is why both new and experienced reverse mortgage professionals stand to benefit from hands-on training that addresses product knowledge, HECM selling techniques and the RV Exchange software,\u201d said Wendy Peel, vice president of sales and marketing at ReverseVision. \u201cNormalizing this product so that more traditional lenders see HECMs as a natural addition to their product offerings will be key to our industry\u2019s continued growth and success.\u201d<\/p>\n