Blue Ridge Bank has announced its plan to launch a reverse mortgage division in partnership with HECM technology provider ReverseVision.
The bank said it has implemented ReverseVision’s RV Exchange (RVX) loan origination system (LOS) to support its launch. Blue Ridge has closed over $25 billion in forward residential home loans to date.
“The creation of a reverse lending division led by industry veterans and powered by the industry's leading reverse origination software is part of Blue Ridge Bank's larger initiative to offer a comprehensive portfolio of home lending products capable of helping every customer attain their home ownership and financial goals,” said Foster Vaught, regional market sales manager at Blue Ridge Bank. “Between the functionality of RVX and the support of ReverseVision's team, I am confident that we are well-equipped to execute our reverse division's strategy of steady, measured growth.”
RVX offers end-to-end origination platform that connects lenders, brokers, investors, and service providers, as well as speed up closing time.
“RVX's HECM and senior lending platform will empower Blue Ridge Bank to execute on a Generational Lending strategy that serves their many decades-long customers at every stage in life,” said Wendy Peel, vice president of sales and marketing at ReverseVision. “With RVX, Blue Ridge Bank is well supported to extend an exceptional customer experience to borrowers of senior lending products.”