Wendy Peel, VP of sales and marketing, ReverseVision
VP of sales and marketing
Due in large part to the innovative efforts of Wendy Peel, the Home Equity Conversion Mortgage [HECM], previously beset with reputational issues and viewed as a fringe loan product, is finally going mainstream as part of ReverseVision’s Generational Lending approach to serving borrower needs across the consumer life cycle.
Peel has firmly established ReverseVision as the HECM market’s most dynamic and leading origination platform. After launching the inaugural ReverseVision User Conference in 2016, Peel was integral in enhancing the program for 2017 to educate new-to-HECM originators on the basics of HECM lending, and to offer compelling compliance, data trends and technology training for seasoned HECM LOs. She also arranged for a standout presentation by noted mortgage industry expert Rob Chrisman, all of which contributed to the immense success of the event.
Peel also developed a strategy of outreach and education to normalize HECM loans in the minds of both depository and mortgage bank lenders by emphasizing the commonalities between FHA-insured first-time homebuyer programs (designed for younger borrowers) and the FHA-insured HECM program (for older borrowers). Her efforts have resulted in a record number of new banks and mortgage lenders in the HECM industry. Today, ReverseVision’s flagship HECM origination system, RV Exchange, is used by nearly 10,000 active users and serves the top 10 HECM lenders, with more than 800 new lenders and brokers added last year alone.
Through these and other strategic initiatives, Peel has succeeded in helping ReverseVision grow its lender base for the HECM market and realize a 30% increase in sales revenue in 2017. “This shift is about much more than increasing ReverseVision’s revenue stream,” she says. “It’s an important step in ensuring that everyone who originates HECM loans is invested in the long-term success of the industry and maintains a focus on due diligence, compliance and borrower education.”