Last week California based Bay Docs announced the launch of a seamless integration of its document production system with Reverse Mortgage Solutions RM Compass loan origination system. Now originators using RM Compass will be able to print out applications as well as closing packages for a variety of reverse mortgage products without having to re-key information.
“We looked to partner with a company whose experience and knowledge of the reverse mortgage industry would benefit our end users. To my knowledge, no reverse mortgage document company has the level of expertise of Bay Docs,” states Bob Yeary, CEO of RMS, he continues, “In a fast growing, highly watched industry, it is important to know who is doing your loan documents to ensure your staying compliant while also maintaining a secure technology environment.”
Based in Northern California, Bay Docs has been providing document services to reverse mortgage lenders since 1994. The company is also tailoring its ordering system to enable any LOS system, whether they support forward or reverse mortgage platforms, to feed directly to their order page thus facilitating lenders need for reverse mortgage documentation.
RMS released RM Compass back in June to provide a front end system built for reverse mortgage lenders to help streamline the reverse mortgage process. The internet based LOS was designed to be cost effective for the smaller originator and scalable for larger lenders that need an enterprise platform too.