ReverseVision, Inc. plans to become the authority on continuing education for the reverse mortgage industry with the launch of its new online learning center, RV University.
is an online education platform created to teach mortgage professionals about the reverse mortgage industry.
Eyeing dramatic growth potential in the number of Baby Boomers that continue to age, RVU looks to address a resource shortfall for reverse lenders who are already struggling to find experienced originators and back-office staff.
“The most important factor that drove our decision to launch RVU is that it will help the players in the space to grow at a pace that should match the industry’s demand,” stated ReverseVision President and CEO John Button. “Our goal is not only to offer the best software for reverse mortgage loans, but also to be the source for the continuing education needed to accelerate one’s business.”
RVU’s premier course is Reverse Mortgage Fundamentals, a two-hour class that educated participants on the key laws and principles that comprise the HECM program.
The program enables reverse mortgage professionals to brush up and sharpen their understanding of the newest program changes, while also allowing forward lenders the educational opportunity to break into the reverse space.
As an Internet-based solution, ReverseVision intends RVU will be a cost-effective solution for companies looking to expand their training programs, helping them save time and money by replacing the need for in-house, HECM-specific training for both new and experienced staff.
“We created RVU because over time we’ve come to understand there is a need for training that is consistent, accessible and HECM-specific,” said RVU Product Manager Rachel Smith to RMD. “Compared to live training, RVU is more convenient and consistent, and far less expensive. We wanted to give everyone the maximum value that we could.”
Utilizing RVU courses can also help companies ensure their staff members are speaking the same language with respect to reverse mortgages, and better position themselves to avoid training-related issues that may arise from a Consumer Financial Protection Bureau (CFPB) audit.
“For years, there have been web-based schools for traditional lenders, but until now our industry was being ignored,” stated Marta Harder, COO for Colorado-based 1st Reverse Mortgage USA. “We are growing rapidly, and being able to get all of our staff aligned in their knowledge of the industry is key to our success.”
Many of RVU’s courses will offer Continuing Education credits from the Nationwide Mortgage Licensing System (NMLS) and the National Reverse Mortgage Lenders Association for its Certified Reverse Mortgage Professional (CRMP) distinction.
Written by Jason Oliva