New reverse mortgage industry entrant Mid America Mortgage has selected the loan origination system (LOS) created by San Diego-based ReverseVision, ReverseVision Exchange (RVX), to support its introduction of Home Equity Conversion Mortgage (HECM) and proprietary reverse mortgage offerings. As a relatively new player overall but with an experienced reverse mortgage industry participant at the helm, […]
Nashville, Tenn.-based FirstBank has exited the third-party origination (TPO), correspondent, and reverse mortgage businesses, RMD has learned. The reverse mortgage division of FirstBank has now moved to operate within Mid America Mortgage, Inc. based in Addison, Texas, a specialty lender that had previously earned a Home Equity Conversion Mortgage (HECM) underwriting designation by the Federal […]
