Hometown Lenders has announced its plans to roll out a Home Equity Conversion Mortgage (HECM) lending channel.
The firm has implemented ReverseVision’s RV Exchange (RVX) loan origination system as well as its ReverseVision Sales Accelerator to support the launch of Hometown’s HECM and proprietary in-house reverse mortgage products.
“Adding HECM and reverse mortgage products is part of our lending institution’s larger strategy to provide a fully-rounded suite of products for our originators and third-party partners to succeed in helping borrowers achieve their home-ownership and financial goals,” said David Weinstein, national HECM manager at Hometown Lenders. “And an important part of facilitating a mutually successful lending experience is outfitting our team with leading technology.”
Participants in the reverse mortgage lifecycle can share documents and exchange information regarding the loan process through RVX. The platform also connects borrowers, loan officers, service providers, branch managers, and investors in real time.
“ReverseVision is the one place we can go to and have all the products that we need,” Weinstein said. “This allows us to deliver consistently outstanding customer service across all of our branches while being able to promote HECM and proprietary products through one portal.”
“ReverseVision is proud to support Hometown Lenders as it strives to more fully meet the financial and retirement goals of its senior borrowers with a HECM lending channel,” said Wendy Peel, vice president of sales and marketing at ReverseVision. “Hometown serves as an example of how a large lender can successfully integrate HECM and reverse lines into their business model.”