Reverse Fortunes recently announced new improvements to its customer relationship manager (CRM). Created for reverse mortgage lenders, loan officers, and branch managers, RmCRM was born out of the company’s first database add-on for ACT with the specific challenges that users face daily in mind.
While the original add-on provided a turnkey solution for the reverse mortgage originator, Reverse Fortunes began to see system limitations for larger organizations with thousands of records and started to pursue the idea of a web-based solution to increase speed, data security, and the flexibility of integrating with other web-based vendors that offer reverse mortgage products.
“[The recent] updates are part of RmCRM because we can continually build improvements for our users without the need to install new software or purchase upgrades,” says Shannon Hicks, Vice President of Product Development at Reverse Fortunes. “Our recent improvements have been easier integration with Reverse Vision (LOS-loan origination software) and the ability to attach files to individual records.”
Currently, Reverse Fortunes is looking at integrating other services that lenders typically order during a loan transaction, allowing the user to do so at the click of a button. By partnering with developer Kyliptix, the company is able to create this solution in a cost-effective manner.
“We are working to provide future integration with other Loan Origination Software programs,” explains Hicks. “Many of our users are banks or independent loan officers who broker out loans between various lenders. Our goal is to expand the ability of RmCRM to export data to several other systems that have an established market share in the reverse mortgage world today. Not only will this help the end user easily generate quotes or proposals in several different systems, but serve as an incentive for users of other LOS systems to adopt RmCRM as part of their day-to-day business practice.”
While Reverse Fortunes is not able to disclose the specific company names it will be integrating with currently, an announcement will be made prior to the launch. At this time, the RmCRM has close to 200 users, adding more individual lenders and branches every day.
“The real advantage for the branch or retail manager is their ability to assign leads to their loan officers and also track their productivity through the built in Sales Reporting system,” says Hicks.
Though there is some competition for the RmCRM, most comes from established lending institutions and lead providers. However, in this niche industry, this is the first web-based CRM with product integration to come to market. And while this is only the first version of the CRM, future versions will be available at no extra cost for upgrades and users will be provided with new features that are constantly being added.
Written by Kelly Mellott