Reverse mortgage technology platform ReverseVision today announced the appointment of a new President, naming Joe Langner, former executive vice president and chief sales officer at Ellie Mae, to the position. Langner plans to lead the company to fulfill its goals of establishing Home Equity Conversion Mortgage (HECM) and private reverse mortgages as viable options for a lending portfolio next to traditional loans, he tells RMD in an interview.
John Button, who previously served as the company’s president and CEO after taking the helm in 2012 remains in the chief executive position for San Diego-based ReverseVision.
Langner brings nearly 30 years of experience in executive positions at other mortgage technology and software companies, including previously serving as both an executive vice president and chief sales officer at Ellie Mae — a software platform that processes 35% of mortgage loans in the U.S. t While at Ellie Mae, Langner oversaw the execution of the company’s initial public offering (IPO) in 2011. Most recently, he served as chief executive officer of retail, wholesale and correspondent lender-centric cloud-based digital lending platform Blue Sage Solutions based in Englewood Cliffs, N.J.
Langner relates that his previous experiences in the traditional mortgage software arena gives him insight into the processes behind what it takes to get loans done, which can help to streamline the operations of ReverseVision.
“When I think about my past experience, the reality is that both forward and reverse mortgages take a village to get done,” Langner tells RMD in an interview. “It’s not just a single supplier. It’s the lender, the settlement service providers, the software companies, [and more]. So, in understanding that need, I have a lot of experience in leveraging technology to create more open systems that can talk to each other better.”
Langner holds a wealth of experience in the realm of software as a service (SaaS), giving him insight into the ways in which modern technology can bring value and benefit to clients, he says. Being so acquainted with the forward world may also help him to identify ways to make some reverse mortgage processes less cumbersome, he says.
“There are differences in the reverse world, unfortunately some processes that are a little bit more cumbersome [than on the forward side],” Langner says. “I need to understand those key differences, and what are the impediments to our lenders in selling a reverse mortgage to a consumer. So part of it is going out, hitting the streets and talking to customers and partners, and really understanding where the pain points are so we can address them with our product.”
Simplification of the reverse mortgage process is also a priority for Langner in his new position at ReverseVision, he says.
ReverseVision CEO John Button welcomed Langner’s appointment.
“Joe’s proven ability to satisfy industry and customer needs make him the right person to lead ReverseVision as it transforms reverse mortgage lending,” said Button in a press release announcing the change. “He is the best person in the industry to execute our strategic vision of bringing reverse mortgage lending into operational coexistence in the broader mortgage market using our cloud-based, API-enabled lending technology platform.”
Late last year, ReverseVision introduced both a major brand refresh and details of a new business strategy, encompassed by an expansion of its offerings and presence in an effort to streamline the sales and origination process for both forward and reverse mortgage lenders. Its brand refresh was ushered in by the introduction of a new logo and tagline to represent the updated approach.
“HECM and private reverse programs have undergone massive transformations and so has our technology,” Button told RMD in October. “ReverseVision’s improved capacity for technology coexistence will help all lenders meet borrowers where they are in life and better serve the unique financial needs of senior customers.”