NEWS: ReverseVision, Inc. has announced their newest credit report partnership with MeridianLink, a leading web-based platform for ordering and delivery of credit reports. This integration within RV Exchange (RVX), ReverseVision’s flagship reverse loan origination system (RLOS) platform, increases RVX users’ choice of automated credit report services.
Reverse mortgage lenders use RVX for the full lifecycle of the loan-from initial proposal through application, underwriting, closing and post-closing. Since Financial Assessment (FA) in April 2015, each borrower needs to show a general credit standing of satisfactory. Credit may be used as an indicator the borrower has the ability to pay taxes and insurance on their property. Otherwise a Life Expectancy Set Aside (LESA) may need to be established for their loan. This change in policy, very similar to what is standard with a forward loan, makes the reverse loan more secure for both the borrower and the investor.
“Partnering with ReverseVision will help lenders adapt to the new FA requirements and reduce switching costs by allowing lenders to maintain their existing relationship with their preferred credit vendors,” said Jason Domazet, Business Development Manager at MeridianLink.
The MeridianLink interface is available to all RVX users who set up an account with the provider. Using data from TransUnion, Experian, and Equifax, this functionality will allow users to pull borrower’s credit reports from one of MeridianLink’s partners and have the data automatically populate into the credit report fields.
“MeridianLink’s proven experience, innovative technology and diverse portfolio of solutions makes them a trusted resource and excellent addition to our vendor services,” said president and CEO of ReverseVision John Button.
“This is just another excellent example of how RVX is streamlining workflow for our users and improving efficiencies through our technology,” said Gregg Holsapple, ReverseVision Product Manager.
ReverseVision, Inc. ( http://www.reversevision.com/ ) is the leading software and technology provider for the reverse mortgage industry offering products and services focused exclusively on reverse mortgages. More reverse mortgages are originated monthly using ReverseVision’s RV Exchange platform than all other systems combined. ReverseVision has partnered with some of the finest and fastest growing lending organizations in the US to provide the leading reverse mortgage technology to brokers, correspondents, lenders and investors. ReverseVision is recognized as a driving innovator in the reverse mortgage industry. ReverseVision continues to improve their software with frequent new innovations building on pioneering capabilities in reverse mortgage interactive graphs, scenario analysis, multi-environment performance analysis and workflow in the origination process.
Headquartered in southern California, MeridianLink has unparalleled expertise in emerging technologies and is dedicated to applying our knowledge, skills and experience to the needs of the financial services industry. Our business model emphasizes innovative design and responsive technical support to deliver solutions that propel our clients to new heights of profitability.
MeridianLink’s mission is to provide powerful yet practical business solutions for the financial sector, where our actions and results consistently demonstrate our development expertise, support, and reliability. For more information, please contact us at (888) 593-8970 or visit our website at http://www.meridianlink.com/.
Twitter: @ReverseVision @MeridianLink
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