Following the announcement this week by the National Reverse Mortgage Lenders Association that the industry has developed guidance on limited underwriting for lenders to use in an effort to prevent reverse mortgage tax and insurance defaults, one software provider has adapted its platform to help implement the changes. The limited underwriting is based in part [...]

While certain big banks recently announced they were exiting the reverse mortgage space, UBS says it’s getting back into the business by providing warehouse lines to lenders. The company quietly added its first client in May and is looking for new customers to add to its roster. “We’re looking to add more people and are [...]

Reverse Fortunes, a customer relationship manager (CRM), released new features to help streamline the lead-to-client process last week. Designed specifically for reverse mortgage originators, customers now have the ability submit loans to MetLife’s wholesale division seamlessly from within the system using “easy buttons.” “Using our CRM originators can eliminate double data entry and simplify the [...]

Reverse Vision rolled out software updates that allow customers to run scenarios for the new HECM Saver and the updated principal limit factors, but it also released a new tool that visualizes how the changes will impact borrowers. Using the borrowers age, the tool graphically compares the updated principal limit factors to the old factors as well [...]

To help customers follow the new HECM Counseling protocols, Reverse Vision released CounselingDocs.org to help facilitate the transfer of documents between lenders, borrowers, and counseling agencies. The new reverse mortgage protocol from the Department of Housing and Urban Development requires that borrowers interested in reverse mortgages receive a large information package that includes individualized loan [...]

Reverse Version officially announced the release of its Good Faith Estimate (GFE) Validator, a feature designed to assist reverse mortgage originators in disclosing an accurate GFE. As part of the new RESPA regulations, originators are required to provide upfront estimates to borrowers that are equal or within a certain threshold of the fees charged later [...]