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Reverse Mortgage Community Joins Forces to Bring Lost Loan to Fruition

During a time riddled with uncertainty and bad news stemming from the COVID-19 pandemic, several reverse mortgage players recently experienced a bright spot in the midst of the crisis — a collaboration that led to a lost reverse mortgage loan in progress getting back on track. 

On April 27, reverse mortgage technology company ReverseVision received an unusual message to its general sales phone line. In the message, the caller, Cindy Stevens, a retired broker based in California, said she had found some reverse mortgage loan documents in a parking lot in Laguna Hills, Calif. 

Stevens relayed to ReverseVision that she had found the documents, which did not contain any personal information about the borrower, in an envelope, along with three documents that looked like they were meant for the loan originator to sign. Based on the contents, she surmised that the envelope was intended to be sent via UPS to the loan originator, and gathered that ReverseVision was the platform used to originate the loan. 

Stevens then called ReverseVision to share the situation. She shared the loan officer’s name, Alexa Wiles-Greenberg of American Advisors Group, and ReverseVision personnel were able to identify the loan within their system. They then contacted the originator to connect her with Stevens, to resolve the issue and get the loan application moving once again. 

“What happened in this case was truly a story of strangers working together to help others out of the kindness of their heart,” says Jeff Hughes, Vice President of Affiliate Sales for AAG. “When the pandemic first began, we implemented a series of policies to keep our customers and employees safe, which included utilizing carrier services to transport documents that require signatures. In this case, a set of documents were lost during transit and discovered by a good Samaritan, who used the visible information to get in touch with our loan officer, Alexa Wiles-Greenberg. “

The loan closing is now scheduled for late June, after AAG provided a new set of documents to the borrower. 

“Alexa and team quickly took action to ensure that the documents were disposed of properly and that a new set was provided to the borrower in a timely manner without causing a delay to the loan process,” Hughes says. “We can’t thank the good Samaritan enough for her compassion, and a huge kudos to Alexa and team for handling this situation with professionalism.”