Reverse mortgage software solutions provider ReverseVision has created a new C-level chief revenue officer (CRO) position to its executive leadership team and has appointed Bill Mitchell as the company’s inaugural holder of the office. This is according to an announcement issued by the company on Tuesday.
In the new position, Mitchell will oversee several aspects of the company including sales, business development and marketing efforts as the organization identifies paths toward greater market penetration in the wider mortgage space. It remains highly embedded in the reverse mortgage space, providing technology solutions for 50 top reverse mortgage lenders and 100% of reverse investors, the company says, with over 10,000 daily users of its products.
“Bill is an experienced technology-focused sales and marketing professional who holds a deep understanding of the mortgage industry and what it takes to grow fintechs,” said Joe Langner, president and CEO at ReverseVision. “There is an enormous amount of opportunity on the horizon for lenders to leverage our technology to augment their revenue streams as the mortgage market tightens. The entire team at ReverseVision looks forward to Bill’s leadership as we expand.”
For Mitchell’s part, he is excited about the potential for assisting mortgage companies with adding reverse to their product offerings to expand the industry, and the adoption of its loan origination system (LOS).
“I am excited about the opportunity to help take ReverseVision to the next level,” Mitchell said. “The mortgage market is already shifting and ReverseVision is in an ideal position to help lenders sustain their business models by adding reverse products or growing existing lines. What’s more, the ongoing development of ReverseVision’s new APIs significantly expands the total addressable market for its solution […] that allow forward and reverse mortgages to coexist within the lender’s core LOS and POS, which helps alleviate adoption barriers.”
Earlier this year, ReverseVision announced it restructured its technology service plans and pricing matrix in an effort to streamline the entry of lenders into the reverse mortgage business space, while further aligning its offerings with a broader mission of allowing more adequate service to senior customers who use FHA lending programs.
President and CEO Joe Langner was also appointed in April to the Board of Directors at the National Reverse Mortgage Lenders Association (NRMLA) a few months after he took over CEO duties from John Button at the beginning of the year.