Trust Lending Leveraging ReverseVision Platform To Grow Reverse Mortgage Wholesale Business
ReverseVision, a national provider of Home Equity Conversion Mortgage (HECM) and private reverse mortgage sales and origination technology, announced that Trust Lending, a national mortgage banker, has gone live with ReverseVision’s Exchange (RVX) platform for its wholesale lending channel. The platform helped Trust Lending springboard its wholesale channel into easily and expeditiously originating loans for reverse mortgage products.
Headquartered in Doral, Fla., Trust Lending is an established mortgage banker that has been in business for more than 15 years, offering a wide array of products to meet the differing needs of borrowers. The lender recently implemented ReverseVision’s Exchange loan origination system (LOS) to automate the reverse lending process. Its goal was to grow a new reverse product line amid a profit-pinched market along with providing its broker partners with easy-to-use technology tools that help them quickly and efficiently originate and manage reverse mortgage deals.
Trust Lending engaged with ReverseVision as part of a long-term strategy to grow its wholesale business by adding a new revenue stream as the re-fi boom winds down. The mortgage lender is leveraging RVX to provide elevated service to senior borrowers, tech tools for brokers, and service a significantly underserved market. Trust Lending says that its model is simple: combine a hands-on, white glove service treatment for brokers coupled with offering comprehensive technology automation to make their broker partners as successful as possible.
“Trust Lending established the foundation of our business based on trust and excellence in service—not only for our borrower customers but also for our highly valued broker network,” stated Cesar Robledo, reverse mortgage manager at Trust Lending. “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. 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.”
Trust Lending lauded ReverseVision’s client services team for their rapid implementation of the system, efficient client onboarding process, and detailed training on the solution’s features. The lender says it was up and running with full ability to handle reverse loans in under 60 days. In addition, broker set up and training was a snap, according to the company. Notable is that Trust Lending offers use of RVX to its broker network for free, but if they would like to instead simply call the loan in, Trust Lending’s service model handles the technology aspect for brokers, if they prefer, thus making it as easy as possible to do reverse loans with Trust Lending.
“It’s refreshing to see a tech-savvy independent mortgage banker like Trust Lending implement technology to help their brokers penetrate the reverse market,” stated 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. Not only does it add a healthy revenue stream to the topline, but it also helps our seniors get the best loan product for their specific retirement situation. It’s a win-win.”
Trust Lending expects ReverseVision’s LOS to be instrumental throughout 2022 in helping the company service more brokers, quickly grow its wholesale business, speed up turn times, further build its reputation for heightened service levels and ease of doing business, and add a highly profitable revenue source in reverse products.
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