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Legacy Improves HECM Counseling Process for Borrowers Through Website

NewImage.jpgLegacy Reverse Mortgage has developed a way to improve communication and the speed of delivery between a reverse mortgage borrower and HECM counselor through its company website.  With the help of Reverse Vision, Legacy offers a shared and secured portal for borrowers to retrieve documents for their loan.

“At Legacy Reverse Mortgage, we want to make sure every one is working off the same page and that mortgage applicants understand all of the details of their reverse mortgage calculations,” said Jim Cory, the company’s President and CEO. “Our new streamlined mortgage protocol with counselingdocs.org means that we can make the whole process faster, easier and simpler than our competitors.”

After a customer meets with a Legacy loan officer, they go over a quote that is produced by Reverse Vision software and published to counselingdocs.org with a secure passcode and user identifier.  The customer can then give the secure passcode and identifier to their independent HUD approved HECM counselor.

As part of the new HECM counseling protocols, borrowers interested in reverse mortgages must receive a large information package that includes individualized loan tables prior to the counseling session.