Contract Processing Service for Reverse Mortgages Launches

NewImage.jpgReverse Pipeline Management Corporation (RPMC) launched earlier this week and offers lenders a contract processing specializing in reverse mortgages.

Headquartered in Orange County, CA, the company offers full service reverse mortgage processing and pipeline management to brokers and lenders and brings over 15 years of experience in the industry.

“Whether a company is new to the industry, downsizing their staff, or simply need help with overflow processing, we are here to meet their needs. We have built our business around processing, so our clients don’t have to,” said John Metcalf, President and Founder of Reverse Pipeline Management.

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According to the company website, RPMC’s goal is to relieve clients from the rigors of processing and allow them to focus on generating new business.  The process is almost entirely virtual to help streamline closing loans.

”With the anticipated influx of new brokers to the industry next year, and a proven system and track record, Reverse Pipeline Management is arriving just in time to meet the new and existing demands of the industry” added Matt Klaus, Account Executive at Urban Financial Group / Reverse It!.

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  • “With the anticipated influx of new brokers to the industry next year…”

    Matt must be talking about the forward side of the mortgage industry. Does Matt really believe that this will be true of the reverse mortgage industry?

  • Cynic,

    You are right. With the SAFE act being implemented and all the changes and hammering the reverse mortgage industry has been through and will be going through, what is attracting an influx of brokers coming into our industry next year?

    What am I missing, I am all ears and wish some one would straighten me out if I am wrong. I don’t see it, who does see it, I would love to have my eyes opened. Please, let me hear from you, many of us would like to know.

    As far as contract processing, it is good to have a firm like RPM to be able to go to. Dependability, reliability and quality is needed more now than ever. IRPM can supply that at a reasonable cost, I am sure they will be used. If wish them luck.

    Thank you,

    John A. Smaldone

  • I think he is probably referring to the change from requiring FHA approval to originate HECMs to having a private lender’s approval. Assuming the minimum standards drop, you could expect an increase in the number of brokers.

    • Matt,

      My jaw dropped reading your explanation.

      Are you hearing of any Full Eagle lenders dropping standards below those currently employed by HUD for Mini Eagles? My impression is that they are generally higher. Can you cite who has lower standards?

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