Skip to main content

ReverseVision Partners With Factual Data on Credit Reporting Solution

NationalMortgageProfessional.com
Jun 06, 2016
ReverseVision has partnered with Factual Data to provide integrated credit reporting solutions to users of RV Exchange (RVX)

ReverseVision has partnered with Factual Data to provide integrated credit reporting solutions to users of RV Exchange (RVX) loan origination software (LOS). Credit information supplied by Factual Data is available in RVX as of the system’s most recent update on April 18.

"Integrating with ReverseVision gives Factual Data the opportunity to help our mutual customers access the critical data they need. Lenders will have the ability to build efficiencies that allow them to proceed quickly and confidently through the lending process,” said Factual Data Senior Vice President of Sales Jay Giesen.

Factual Data provides independent verification of credit, income and other loan qualification data for the mortgage industry. 

“Through our partnership with Factual Data, RVX users will enjoy streamlined access to the critical credit information they need to identify qualified borrowers,” said ReverseVision VP of Sales and Marketing Wendy Peel.

RVX serves as a centralized exchange, connecting all participants in the lifecycle of a reverse mortgage by allowing them to log in to a single system to share documents and information for each part of the loan process. Factual Data makes it easy for RVX users to request additional details when questions arise about a borrower’s credit report.

“While a borrower’s ability to qualify for a reverse mortgage does not hinge on his or her numerical credit score, the new Financial Assessment rules require reverse mortgage lenders to carefully consider the borrower’s ability to meet financial obligations,” Peel said. “That’s why offering lenders the ability to order credit supplements from within RVX is such a critical advantage of this integration.”

Published
Jun 06, 2016
More from
Reverse
HECM Endorsements Plummet More Than 14 Percent

Home equity conversion mortgage endorsements plummeted 14.3% in August 2021 to 3,679 loans.

Reverse
Sep 14, 2021
Reverse Mortgages Aren't Expanding Into Broader Mortgage Business

The reverse mortgage sector has remained strong accounting for more than 4,000 loans a month, according to Reverse Mortgage Daily, however, growing the business further has been on the back burner.

Reverse
Jul 28, 2021
FHA Adds COVID-19 Recovery Options For Forward And Reverse Borrowers

The Federal Housing Administration announced additional COVID-19 recovery options to help both forward and reverse homeowners who are facing hardships as a result of the pandemic.

FHA
Jul 26, 2021
RMF Revamps Its Borrower Qualification Process To Increase Efficiency

Reverse Mortgage Funding, LLC (RMF) is taking a new approach to the borrower qualification process for those seeking a reverse mortgage. The process was created to drive efficiency during the approval process and increase reverse mortgage market growth.

Reverse
Jul 20, 2021
Reverse Mortgage Endorsements Slide By More Than 4 Percent In June

Reverse mortgage endorsements decline by 4.4% to 4,160 loans, increasing the streak of more than 4,000 loans per month, according to Reverse Mortgage Daily.

Reverse
Jul 06, 2021
Liberty Reverse Mortgage Becomes Full Service Reverse Lender Following RMS Acquisition

Last week Ocwen Financial Services announced the acquisition of Reverse Mortgage Solutions. In a recent interview with Reverse Mortgage Daily, Mike Kent shared how the acquisition will affect the company.

Reverse
Jun 22, 2021