Mortgage Cadence announced that it has adapted and enhanced its technology platform to assists reverse mortgage lenders in dealing with rapidly changing market conditions. Specifically, the new updates to its Orchestrator platform will help lenders manage new mandatory live pricing requirements for reverse mortgages recently introduced by Fannie Mae.
“With private investor purchasing and proprietary portfolio products going away, lenders will find it difficult to ignore Fannie Mae’s new pricing requirements,” the company said in a statement. “What many lenders do not understand is that incorporating the new mandatory live pricing and delivery requirements into their pricing strategy opens them up to exposure and increases the risk and challenge of correctly pricing and delivering loans.”
Orchestrator can significantly reduce this risk by providing reverse lenders with a streamlined approach to mandatory live pricing through the delivery of advanced technology, commitment tracking, business workflows, and industry expertise. This technology puts reverse lenders in a position to minimize risk, optimize market opportunities, and competitively price reverse loans to the broker base.
“By having a strong pulse on the industry and a deep understanding of what the implications will be on our customers, we are able to proactively deliver much-needed solutions to customers.” said Michael Detwiler, Chief Executive Officer of Mortgage Cadence. “Every day we strive to enhance our already superior technology platform to ensure that we are providing our customer base with the last lending platform they will ever need.”