Reverse Mortgage Solutions (RMS) announced that First American’s reverse mortgage packages and services are now integrated into its RM Compass loan origination system.  RMS Customers will now have the opportunity to use First American’s reverse mortgage document preparation service through RMS’s web application and ultimately saving time and eliminating the need to re-key data.
“Our customers […]

First American Corporation announced it has developed a new reverse mortgage tool to help servicers identify candidates who may be eligible for a HECM.  The tool provides servicers with a score that examines a broad range of homeowner and property data obtained from First American’s data repository, to determine whether a HECM can be used […]

Celink recently released its new Client Data Portal which provides its customers a secure way to access standard reports.  The Client Data Portal also has the ability to make ad hoc queries on their portfolio database, create new reports, and view loan-level information in real time.
“The days of providing only monthly reports to lenders […]

A recent article from MortgageOrb describes how the unique nature of reverse mortgages creates some special challenges for servicers and their attorneys when loans mature or the borrower goes into default.
According to the article, Fannie Mae servicing guidelines for both conventional and FHA reverse mortgages provide that a mortgage may be called due by […]

Reverse Mortgage Solutions (RMS) announced a partnership that enables Lender Processing Services (LPS) to offer RMS’s reverse mortgage origination and servicing technology to lenders.  Currently, RMS is the only provider of both an origination system (RM Compass) and a fully scalable servicing platform for reverse mortgages (RM Navigator).  “This alliance enables LPS to offer […]