Doral, Fla.-based mortgage banker Trust Lending is aiming to expand its presence in the reverse mortgage wholesale space, leveraging the technology stack of reverse mortgage software solutions provider ReverseVision to expand and implement a reverse mortgage strategy. This is according to a joint announcement by the banker and ReverseVision.
Trust recently began offering reverse mortgage products, using the ReverseVision Exchange loan origination system (LOS) to automate loan processes. The company saw reverse mortgage lending as a potentially valuable product addition to deploy as difficult market conditions on the traditional mortgage side continue and aimed to offer technology tools that might be able to make incorporation of reverse mortgages a more streamlined process for employees.
“ReverseVision’s technology platform helped Trust Lending expand operations into the reverse mortgage business, and it gives our employees and brokers the functionality they need to efficiently originate, manage, process and close reverse loans with ease,” said Cesar Robledo, reverse mortgage manager at Trust Lending. “ReverseVision’s LOS has become the technology backbone of our reverse mortgage operations and we are excited about our newfound ability to scale this side of the business.”
The company plans to further scale its reverse mortgage operations by use of the platform and is aiming to partner with more brokers to increase its turn times and grow its new wholesale business segment.
“It’s refreshing to see a tech-savvy independent mortgage banker like Trust Lending implement technology to help their brokers penetrate the reverse market,” said Joe Langner, president and CEO of ReverseVision. “There is a tremendous amount of opportunity for forward lenders to easily get into reverse mortgages and capitalize on an untapped market.”
Late last year before the hiring of two new employees designed to optimize its internal operations, ReverseVision created a new C-level chief revenue officer (CRO) position as a part of its executive leadership team, appointing Bill Mitchell as the company’s inaugural holder of the office.
In 2021, 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 appointed in April 2021 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.