Read about the latest happenings in companies across the reverse space. Have exciting news to share? Email us to see it in print!
Liberty Home Equity Solutions Honors World Elder Abuse Awareness Day Employees of Liberty Home Equity Solutions stood together, united against elder abuse in honor of World Elder Abuse Awareness Day on June 15. To show their support, the team dressed in purple and wore purple ribbons, the official color of WEAAD. “Liberty is committed to protecting our senior customers and preventing elder abuse,” said Liberty President Mike Kent. “It’s an honor to work with the elder population, and we take this responsibility very seriously. We encourage everyone to get involved and help raise awareness for this important cause.”
Mortgage Cadence Announces Integration with DocuSign and eOriginal Mortgage Cadence has integrated with award-winning electronic signature and Digital Transaction Management (DTM) provider DocuSign, Inc., and the vaulting, transaction and transferable records services of eOriginal, Inc. This new integration helps to expedite the mortgage origination process while creating a more streamlined, reliable and secure digital experience for borrowers, lenders and investors. All signed documents are tracked, retrieved and stored in the Mortgage Cadence Enterprise Lending Center or Loan Fulfillment Center, ultimately driving additional tasks and keeping the lender on-platform and focused on the lending process. “Most borrowers today—whether millennials or baby boomers—are accustomed to doing just about everything online,” says Trevor Gauthier, president of Mortgage Cadence. “In order to increase borrower satisfaction, lenders require tools that allow them to originate and close mortgages digitally. Integrating with DocuSign’s and eOriginal’s best-in-class eSignature and eClosing solutions, along with our proprietary loan origination and document preparation and delivery solutions, allows us to provide an incredibly robust service to our clients and their borrowers—a testament to our dedication to the mortgage industry.”
AAG Extends Jumbo Reverse Mortgage AAG has released its jumbo reverse mortgage loan, called the AAG Advantage, to its wholesale partner network in California. With AAG Advantage, California brokers and loan officers may originate reverse mortgages through AAG on properties valued at up to $6 million, versus the FHA loan limit of $625,500 associated with a traditional HECM loan. The AAG Advantage was initially launched in select states by the company’s retail channel last September. The loan will roll out to other states through both retail and wholesale platforms in future phases. “We’re pleased to now offer the AAG Advantage to our wholesale partners in California, where many of their clients’ property values tend to be higher,” says Kimberly Smith, senior vice president of wholesale lending at AAG. Smith continues, “With AAG Advantage and our solid network of California wholesale partners, we can help extend reverse mortgages to a greater number of seniors, provide them access to more funds and help them age in place with increased security and peace of mind.”
ReverseVision Teams Up with Factual Data to Provide Integrated Credit Reporting Solutions to Users of RV Exchange LOS ReverseVision has partnered with Factual Data to provide integrated credit reporting solutions to users of RV Exchange (RVX) loan origination software (LOS). Credit information supplied by Factual Data is available in RVX as of the system’s most recent update on April 18. “Through our partnership with Factual Data, RVX users will enjoy streamlined access to the critical credit information they need to identify qualified borrowers,” says ReverseVision’s vice president of sales and marketing, Wendy Peel. “While a borrower’s ability to qualify for a reverse mortgage does not hinge on his or her numerical credit score, the new Financial Assessment rules require reverse mortgage lenders to carefully consider the borrower’s ability to meet financial obligations,” Peel says. “That’s why offering lenders the ability to order credit supplements from within RVX is such a critical advantage of this integration.”
Open Mortgage Launches Reverse Mortgage Wholesale Operation on ReverseVision’s RV Exchange LOS Texas-based mortgage lender Open Mortgage has launched its reverse mortgage wholesale operation on the RV Exchange (RVX) loan origination software (LOS). A full-service mortgage lender, Open Mortgage has been a home-equity conversion mortgage (HECM) retail lender since 2010, originating its reverse mortgage production via the RVX LOS. “As competition heats up, mortgage brokers are eager to add a product that differentiates them in the marketplace, but they may not know where to start,” says Sharon Falvey, director of sales operations for Open Mortgage. “Thanks to our experience as an RVX-enabled HECM retail lender, we are ideally positioned to serve those mortgage brokers through a combination of unparalleled customer service and technology infrastructure while they become reverse mortgage experts themselves.”
