SAN DIEGO, Calif., June 6, 2017 (SEND2PRESS NEWSWIRE) — ReverseVision, the leading provider of software and technology for the reverse mortgage industry, today announced that Kiel Mortgage has chosen RV Exchange (RVX) loan origination software (LOS) to power its home-equity conversion mortgage (HECM) division.<\/p>\n
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\nFounded three decades ago by a husband-and-wife team, Kiel Mortgage is a privately-held mortgage lender serving three states in the Pacific Northwest region. After originating a handful of HECMs over the years, Kiel Mortgage Co-founder Laura Kiel decided to add HECMs as a permanent part of Kiel Mortgage\u2019s product line and created a reverse lending division under her supervision.<\/p>\n
\u201cEven before establishing our reverse mortgage division, we were originating a few HECMs per year. With each transaction, we saw how helpful this product is and how much comfort and peace of mind it brings to borrowers,\u201d Kiel said. \u201cOnce HUD revamped the HECM program to offer even greater borrower benefits and security, we knew HECMs would become an important opportunity for many people over the age of 62 and decided to establish a specialty in reverse mortgages.\u201d<\/p>\n
Committed to educating the Pacific Northwest on all things HECM, Kiel makes a monthly appearance on \u201cAging Options,\u201d a radio show that focuses on a wide range of issues affecting seniors. Hosted by an elder law attorney, \u201cAging Options\u201d is the number one-rated Saturday morning radio program in the Seattle area. In addition, Kiel Mortgage hosts its own weekly radio show on Sundays to educate listeners on the Seattle-area housing market and answer questions on real estate financing options, including HECMs.<\/p>\n
\u201cAs both a dedicated originator of HECM loans and passionate advocate for borrower and industry education, Kiel Mortgage represents the very best in reverse mortgage lending. We are thrilled to help facilitate their growth in the reverse mortgage space,\u201d said ReverseVision Vice President of Sales and Marketing Wendy Peel. \u201cWith product-specific technology from ReverseVision, Kiel Mortgage is well placed to continue expansion of its reverse mortgage division and offer seniors in the Pacific Northwest options for purchasing a home or aging in place comfortably.\u201d<\/p>\n
RVX, ReverseVision\u2019s flagship product, provides a single platform in which all participants in the reverse mortgage lifecycle can connect to exchange documents and data for each part of the origination process. The system also encompasses functionality to power a lender\u2019s entire reverse mortgage operations, including point-of-sale, processing, underwriting, funding, post-closing and secondary marketing.<\/p>\n
\u201cAll of the investors we work with use RVX, so it made total sense for us to deploy it as our reverse LOS. We didn\u2019t even consider another option,\u201d Kiel said.<\/p>\n
To support Kiel Mortgage\u2019s implementation of RVX, ReverseVision\u2019s Professional Services team conducted on-site installation and training at the lender\u2019s Renton, Washington, headquarters over the course of two days.<\/p>\n
Having recently expanded its reverse mortgage division to include dedicated personnel in California, Kiel says the company plans to add additional staff in Oregon to support its HECM origination efforts.<\/p>\n
\u201cReverse mortgages are truly an emerging market; it\u2019s a specialized product that requires dedicated attention and care,\u201d Kiel added. \u201cThanks in part to our education efforts, we\u2019re seeing a dramatic, positive shift in the perception of reverse mortgages in our area.\u201d<\/p>\n
About ReverseVision:<\/strong> A 2017 HousingWire TECH100\u2122 company, ReverseVision has also been recognized in Deloitte\u2019s Technology Fast 500\u2122 listing. ReverseVision\u2019s annual user conference, the only event of its kind in the industry, brings together more than 200 lenders, vendors and educators each year to advance reverse mortgage lending. The company continues to build on its technology\u2019s pioneering capabilities with frequent enhancements aimed at boosting users\u2019 reverse mortgage volume, workflow efficiency and data analysis capabilities.<\/p>\n
\nReverseVision, 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 supports more reverse mortgage transactions than all other systems combined. The company\u2019s 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.<\/p>\n