ReverseVision Expands Credit Report Tools for RV Exchange Users

Reverse mortgage originators who use ReverseVision’s RV Exchange (RVX) loan origination software will now have access to additional credit reporting services provided by Informative Research, one of the nation’s oldest and largest credit reporting agencies.

The completion of ReverseVision’s integration with Informative Research, announced Tuesday, enables RVX users to to order Premier Credit Report, Informative Research’s version of the tri-merge credit report that has become standard in the mortgage industry.

“Through this integration with Informative Research, RVX users will experience ease-of-access to the critical credit information required to identify qualified borrowers,” said ReverseVision Vice President of Sales and Marketing Wendy Peel in a press release.

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The integration with Informative Research is the latest update to the RVX system this year. Earlier this summer, ReverseVision integrated the credit reporting services of Factual Data into RVX and expanded the system’s real estate tax and flood services through an integration with LERETA, a national provider of property tax data and flood hazard status information.

Informative Research enables lenders to customize how credit information is presented in a borrower’s report. The company prides itself on providing dedicated customer support specialists focused on helping lenders maintain high levels of borrower service.

“With this integration, Informative Research and ReverseVision assure their mutual customers unmatched access to critical credit data needed for originating reverse mortgages,” said Informative Research Chief Operating Officer Stan Baldwin in a press release. “Further, the integration helps support our unceasing commitment to improving lender workflow and streamlining credit reporting capabilities.”

Founded in 1946, Garden Grove, Calif.-based Informative Research provides complete residential mortgage credit reports. Organizations such as Fannie Mae among other top lenders have relied on the company and its proprietary Keystone logic system, which allows individual reports from the three credit bureaus to be merged into an accessible format with duplicated or incomplete listings removed for lender efficiency.

While a borrower’s ability to qualify for a reverse mortgage is not solely dependent on his or her numerical credit score, the Department of Housing and Urban Development’s Financial Assessment rules require reverse mortgage lenders to carefully consider the borrower’s ability to meet financial obligations, said Peel.

“That’s why offering lenders the ability to order credit reports from within RVX has a significant impact on efficiency,” Peel said.

Credit information supplied by Informative Research is available in RVX as of the system’s June 16 update.

Written by Jason Oliva