The lender reports that it selected ReverseVision’s loan origination system for its superior integration with secondary market investors.
“Frankly, the first question we ask whenever we partner with a new investor is, ‘Will you work with RV Exchange?’” says Glen Smart, manager of NOVA’s reverse mortgage division, in a release.
NOVA has originated reverse mortgages as a correspondent lender since 2014.
RV Exchange serves as a centralized exchange, connecting all participants in the lifecycle of a reverse mortgage by allowing them to log in to a single system to share documents and information for each part of the loan process.
“RV Exchange allows us to deliver the same reverse mortgage package to any number of investor partners,” Smart says. “We don’t have to learn and open a bunch of different investors’ systems to compare options.”