has announced that Mid America Mortgage Inc.
has selected its flagship reverse loan origination system (LOS), ReverseVision Exchange (RVX), to support the introduction of HECM and private reverse mortgage products.
Instead of developing a proprietary reverse origination solution in-house, as Mid America has done with its forward LOS, the multi-state lender chose to partner with ReverseVision because they are the industry’s foremost experts on reverse mortgage execution and technology development. Utilized by each of the top-10 producing HECM and reverse lenders, RVX’s end-to-end reverse origination platform connects all participants across the reverse mortgage lifecycle, allowing them to exchange information throughout the loan process.
“Mid America has always sought opportunities to establish itself in underserved areas of the market, and reverse mortgages are a prime example,” said Mid America Owner and Chief Executive Officer Jeff Bode. “Adding reverse mortgages to our existing product mix allows us to better cater to the unique financial needs of senior borrowers and foster customer retention by offering financial products relevant to borrowers at every stage in life. Given ReverseVision’s reputation in the reverse mortgage space, we knew the firm was the only partner we could trust to power our reverse division.”
To foster an informed borrower experience and strengthen customer relationships, Mid America has appointed HECM lending specialists to guide seniors through the HECM lending process, led by Mid America’s newly appointed Director of HECM Lending Dan Barksdale.
“Having successfully originated HECMs and reverse mortgages for nearly a decade, I’ve witnessed not only the evolution of the reverse mortgage, but also the positive impact it has had on the lives of the seniors that have taken advantage of this product,” Barksdale said. “When Mid America offered me the opportunity to launch its reverse mortgage program, I leapt at the opportunity to do so, and I look forward to leveraging the industry-leading digital mortgage platform Mid America has built–including RVX–to deliver this unique financial product to Mid America’s senior-age borrowers.”