Today, Lender Lead Solutions introduced the Specialized Technology for the Origination of Reverse Mortgages application (STORM). STORM serves the same purpose as a customer relationship manager (CRM) but has a unique focus on the reverse mortgage market. According to David Peskin, chief executive officer of LLS, “We have created a complete lead-to-closed loan application that automates the tasks in the sales and origination processes while also providing originators and management with the ability to track loan status and monitor individual and team performance.”
This is a great addition to the suite of products that LLS is offering at the moment through their wholesale channel and will help originators convert the leads that are generated through their system. “Reverse mortgages represent a longer sales cycle, due to the nature of the product and the requirement for HUD counseling,” said Peskin. This will also be totally web based which is a nice feature that most wholesalers don’t offer right now.