Skip to main content

ReverseVision Announces Update to Its RV Exchange LOS

Mar 09, 2015

ReverseVision has released an update to their RV Exchange LOS that includes all Financial Assessment critical screens and calculations. This release was targeted to meet the U.S. Department of Housing & Urban Development’s (HUD’s) original Financial Assessment (FA) implementation date of March 2.

“There are a series of new screens and features to collect FA-related data elements like Borrower’s Credit, Credit Accounts, Income, Asset Dissipation and Expenses,” said ReverseVision President and CEO John Button.

In addition, a single new results screen brings all the data together for the Underwriter to complete the assessment and calculate the Life Expectancy Set Aside. Updates to the administration and reporting components have also been made.

“All the critical FA features are part of the March 2 release, but we will be delivering more than just these critical features. Additional features that focus on data quality and efficiency, as well as LO-specific tools, will be released by the first week of April,” said Button. “These updates will include capabilities like the ability to import credit report data, assign a credit report to a lender and a Celink export update.”

About the author
Published
Mar 09, 2015
More from
Reverse
Rising Rates Reduce Reverse Mortgage Payouts

High rates also reduce how much one can borrow against their home equity, AARP reports.

CFPB Issues Warnings On Reverse Mortgage Marketing

Says it is working with state regulators to ensure fairness in advertising and teach consumers where to go for help.

Aug 15, 2023
Movement Mortgage Expands Into Reverse Mortgage

South Carolina mortgage company hires industry vet to run the operation

Aug 02, 2023
PHH Mortgage Signs Subservicing Deal With Finance of America Reverse

PHH, a subsidiary of Ocwen Financial, says deal offers opportunity to grow its reverse subservicing portfolio.

May 05, 2023
Judge Approves Liquidation Plan For RMIT

Decision OK'd after one-day delay for reverse mortgage lender to provide additional funding information.

May 01, 2023
MISMO Recruiting For New Reverse Mortgage Group

The development work group will analyze and develop standards for reverse mortgages.

Apr 28, 2023