Two major names in the reverse mortgage industry on Monday announced a partnership designed to streamline the title process.
Users of ReverseVision’s software can now access Premier Reverse Closings’ title services directly through the RV Exchange system, the two companies announced in a joint release.
“Through our partnership with PRC, RVX users can now easily and efficiently request specialized title services from the nation’s leading expert in reverse mortgage closings,” ReverseVision vice president of sales and marketing Wendy Peel said in a statement.
“We look forward to a long [and] fruitful partnership with PRC that will generate even more solutions for optimizing the HECM lending process,” Peel said.
The Rocklin, Calif.-based PRC says it’s helped to close more than 175,000 transactions during its nine years in the industry, the vast majority consisting of Home Equity Conversion Mortgage loans.
“As leaders of our respective corners of the industry, Premier Reverse Closings and ReverseVision share a commitment to excellence in serving both reverse mortgage professionals and borrowers,” PRC senior vice president for sales Heather Moulden said in the same statement.
“By integrating with PRC, RVX has given its customers access to a dedicated team of the industry’s most experienced HECM closing specialists,” she said.
The San Diego-based ReverseVision plans to add a fee lookup function for its PRC integration in an upcoming software release, the company said.
ReverseVision reports 10,000 active users within the HECM marketplace, including all of the top 10 reverse mortgage lenders in the industry.
Written by Alex Spanko