The 2022 TECH100 Mortgage list of honorees is a program that aims to spotlight companies seeking to make the housing sector better and more sustainable by increasing efficiency, improving borrower experience and bringing elasticity to mortgage origination and servicing processes. Among the list of honored companies this year is San Diego, Calif.-based reverse mortgage loan origination system (LOS) provider ReverseVision.
Each chosen organization was measured based on key technology, quantifiable metrics and client impact, according to the list’s organizers. For ReverseVision, selection on the list is a very welcome occurrence.
“ReverseVision has been a leader in the reverse mortgage space for nearly two decades, delivering solutions that meet unique and complex lending needs through relentless innovation and service,” said Stephen Ryczek, newly-appointed president of ReverseVision. “This recognition is a testament to the hard work and dedication of the entire ReverseVision team to continuously drive the mortgage industry forward, extending technology to underserved segments.”
The announcement comes on the heels of news last month that ReverseVision would be acquired by a division of Toronto-based Constellation Software, a holding company that bought another mortgage LOS in 2019. ReverseVision marks the second mortgage software provider acquired by Constellation in the last couple of years. The company previously acquired forward LOS provider Mortgage Builder in 2019.
“Constellation and ReverseVision share a dedication to the industries and customers we serve, making this a big win for all,” said Ryczek at the time the deal was announced. “ReverseVision’s commitment to meeting the evolving and unique needs of their customers is demonstrated by the immense recognition both their products and team have received in the industry. This acquisition expands our footprint in the digital mortgage ecosystem, and we are thrilled to have them join us as we continue to develop innovative and streamlined technology solutions in the lending space.”
While no other directly-involved reverse mortgage companies are present on the list, certain companies are reverse mortgage-adjacent. Mr. Cooper Group at the end of 2021 exited the reverse mortgage business through the sale of its reverse mortgage servicing portfolio to Mortgage Assets Management, LLC (MAM) at the end of 2021. Mortgage data analytics platform RiskSpan is also present on the list; that company partners with the National Reverse Mortgage Lenders Association (NRMLA) to provide data on the amount of senior-held home equity present in the United States. At last count, the figure reached over $10 trillion.
Also present on the list this year is Baltimore, Md.-based automated borrower intelligence and retention system platform Sales Boomerang, which recently launched a new “Reverse Mortgage Alert” product designed to inform lenders when a borrower begins qualifying for a reverse mortgage.
Find the full list of 2022 TECH100 recipients at HousingWire. Reverse Mortgage Daily is an HW Media publication.