Reverse Mortgage lenders that use ReverseVision software to streamline the origination process can now access a new version of the technology that includes appraisal services.
The new version, No. 4.0.0 of its ReverseVision product, incorporates a new component: ReverseAccessVision (RAV). The new version allows access to fraud detection and appraisals via Mortgage Information Services, Inc.
Through the new release, users an order appraisals and manage the status and delivery of the appraisals, allowing them to track the dates of the appraisal being scheduled and received.
“The new appraisal service is an incredible time saving feature for our clients and will be a major asset in our already streamlined process of creating reverse mortgage loans,” said Jeff Birdsell, ReverseVision Product Manager.
The appraisal information including document, order and invoice are entered directly into ReverseVision attached to the loan.
“The combination of our appraisal process with ReverseVision’s technology offers a valuable time-saving advantage to users, allowing them to focus on their core tasks rather than on order submission and tracking through a separate process,” said David Stroop, Regional Vice President of MIS.
Written by Elizabeth Ecker