San Diego-based reverse mortgage software provider ReverseVision will welcome two new mortgage lenders to its origination platform.
The company will add both Mason-McDuffie Mortgage Corporation and Live Well Financial to its software platform that serves over 20,000 users nationwide.
Monday, ReverseVision announced that Mason-McDuffie Mortgage Corporation would launch its reverse mortgage channel using ReverseVision’s software, which streamlines the reverse mortgage process from origination to processing and closing.
“ReverseVision’s platform makes it easy for our Loan Officers to design just the right reverse mortgage and then explain it to each borrower so that they fully understand how this financial tool works,” said Marilyn Richardson, president and CEO of Mason-McDuffie Mortgage.
Headquartered in San Ramon, California, Mason-McDuffie is a mortgage banker licensed in multiple states. The company’s foundation dates back to 1887. In 1982, the company held the 6th largest portfolio in the U.S. and was purchased by Weyerhaeuser Mortgage Company during the same year. The company has since been reestablished in 2005 by several of the original partners.
“It is exciting for us to be working with a company with such a solid reputation and long history in the mortgage banking space,” said John Button, CEO of ReverseVision. “We are looking forward to watching them thrive as they adopt our platform and leverage some of the new products like a contact management system that we will be rolling out next year.”
The collaboration with Mason-McDuffie is the second partnership ReverseVision has announced within the past week.
On November 22, the company announced a partnership with Live Well Financial. With a corporate headquarters located in Richmond, Virginia, Live Well is a Fannie Mae, Ginnie Mae and Department of Housing and Urban Development approved nationwide mortgage lender. The company provides its lending partners with access to Home Equity Conversion Mortgages (HECMs), conventional loan products, as well as those insured by the Federal Housing Administration.
“As one of only a few lenders capable of placing reverse mortgage originations into the secondary markets, Live Well Financial has recently added key management to the company to expand its wholesale and branch partner business,” said Bruce Barnes, executive vice president of Live Well.
Live Well’s strategic partnership with ReverseVision will also be a key step for the lender to roll out its new Broker Advantage Platform, which Barnes says will create a new standard in reverse mortgage wholesale lending.
“We are very excited to welcome aboard Live Well Financial,” said Button of ReverseVision. “We are confident that our software will accelerate their business, save time and increase their bottom line. With nearly every broker that originates reverse mortgages already using our platform, Live Well can immediately tap into a huge pool of potential customers.”
ReverseVision provides more than 5,000 firms support in originating, processing and closing of reverse mortgage loans. Some of the company’s software solutions include reverse mortgage interactive graphs, scenario analysis, multi-environment performance analysis and workflow in the origination process.
Written by Jason Oliva