New Sales Tool Aims to Be One-Stop-Shop for Reverse Mortgage Lenders

There are a number of technology platforms in the reverse mortgage industry, but perhaps none so complex as to offer a one-stop shop for the entire sales and pre-origination process.

RV Sales Accelerator (RVSA) is a web-based tool that combines contact management capabilities with the origination features of ReverseVision’s flagship RV Exchange (RVX) system.

The intent behind developing this new tool is to help originators better nurture leads and prospects by giving them the ability to manage their business simply through the use of one system.

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“As a technology provider in this industry, we have the ability to provide sales tools to originators that currently aren’t offered today,” said Joe Rinner, ReverseVision’s product manager for RVSA. “We hope these tools, coupled with contact management functionality and the legacy originations functionality in RVX, are going to streamline originator’s business by giving them everything they need in one area.”

ReverseVision will be showcasing the new RVSA product at its inaugural User Con 2016 event January 20-22 at the Sheraton San Diego Hotel & Marina. Conference attendees interested in adopting the technology will be able to benefit from an early-adopter discount and will be encouraged to login and check out the software.

The need for RVSA came from the realization that many reverse mortgage loan originators either were using multiple systems to keep track of leads and process loans or had no solution at all. But the product is not just a contact management system integrated with the RVX loan origination platform.

In fact, RVSA is not an integration at all. Rather, the product shares a database with RVX, enabling users to easily access a wealth of information within a single system. Under separate systems, an originator would need to log into one system to find a borrower’s personal information, and then log onto his loan origination system to find information on the borrower’s reverse mortgage.

“With RVSA, you’re simplifying the need to go into separate systems to find information,” Rinner said. “If everything is in one place, it streamlines energies and efforts to just focus on one web-based system.”

RVSA users can expect the same functionality as with most basic contact management systems, including the ability to nurture leads and prospects, manage their referral business, create notes, as well as the ability to set-up email drip campaigns—essentially marketing emails that are sent automatically on a schedule. “Soon users will be able to see which campaigns are driving certain leads and track their marketing efforts,” Rinner said.

On the sales side, RVSA will include premium features that empower the ability of a loan officer to convey the benefit of a Reverse Mortgage. Initially, these tools will offer a modest enhancement to tools available today in RVX. The sales tools will continue to grow over time to be unlike anything else currently available in the industry. Such functionality may provide originators with some valuable ammunition in their crusade to increase outreach to the financial planning community.

“These tools are built to to increase people’s understandings of the core benefits of a reverse mortgage and make for easier sales for the loan originator,” Rinner said.

Also included, the RVSA system provides notifications about an originator’s active pipeline in real time as loans are processing through RVX, without requiring the originator to jump between the two systems to find such information.

Reverse mortgage professionals embody multiple titles whether it is a Loan Originator, Educator or Advisor. But at the end of the day, their primary function is to sell; to promote the benefits of reverse mortgages and help people understand how these loans can play a key role in their financial strategy.

“RVSA is a mobile tool that will solidify the reverse mortgage loan originator’s position in the marketplace to act not only as educators for the product, but also convey the benefits of it,” Rinner said.

With RVSA, originators will be enabled to improve workflow and increase concentration on borrowers. RVSA will eliminate the need to rely on separate disconnected tools and resources, allowing originators to instead sharpen focus on their primary job function as sales professionals.

Attendees at next week’s User Con will be able to learn about RVSA, see a demo of the new product and access it. Additional topics at the conference will offer other ideas for originators to provide a compelling case for retirees to use reverse mortgages.

Written by Jason Oliva

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