IRVINE, Calif., April 5, 2022 (SEND2PRESS NEWSWIRE) — Mortgage Advisora borrower conversion platform enabling mortgage lenders to educate borrowers with interactive presentations that model home loan performance over time, today announced an integration with Inverted vision, a subsidiary of Constellation Mortgage Solutions, Inc., the nation’s leading provider of home equity conversion mortgages (HECM) and private reverse mortgage sales and origination technology. The integration allows lenders to produce a Reverse Total Cost Analysis (TCA), an interactive presentation that allows loan originators to provide consumers with side-by-side comparisons of the performance of Reverse Mortgages versus Term Mortgages during the term of the loan.
According to the National Reverse Mortgage Lenders Association (NRMLA), consumers age 62 and older make up a significant portion of the mortgage market, holding $10.1 trillion in home equity. Yet HECM and private reverse mortgages, specifically designed to meet the unique financial circumstances of seniors, are rarely touted as options, often due to lenders’ lack of familiarity with the programs.
Mortgage Coach’s Reverse TCA empowers loan originators to better serve their clients with confidence by helping them assess whether a term or reverse mortgage is best suited to meet their homeownership and financial goals. Designed to educate consumers about the terms of reverse mortgages and illustrate unique features such as flexible disbursement options, the Reverse TCA serves to build borrowers’ confidence in loan originators while giving them a more complete understanding of their financial options.
Consumers can easily share Reverse TCA presentations with financial advisors and family members via text and email, allowing those involved in the long-term care of borrowers to feel informed and confident.
“For the first time ever, the Reverse TCA enables tens of thousands of expert term mortgage advisors to easily, accurately and consistently compare term and reverse mortgage options side-by-side,” said the President of Mortgage Coach, Joe Puthur. “The solution strengthens lenders’ relationships with qualified clients by modeling home financing options designed for their stage of life while helping loan officers advise clients on the mortgage solution that’s right for them.”
“This new partnership with Mortgage Coach opens doors for term mortgage lenders to generate new undiscovered loan revenue and profitability by tapping into the booming real estate market through HECM mortgages,” said Stephen Ryczek, president of Constellation Mortgage Solutions. “Lenders can provide an equity loan that gives seniors a more comfortable retirement without the financial stress of monthly loan repayments.”
“For many years, Mortgage Originators at Finance of America have embraced the TCA Mortgage Coach to visually educate our borrowers on all term mortgage options, helping them select the right loan for them from our diverse line of mortgage products,” said Graham Fleming, president of Finance of America. “Similarly, Finance of America has long relied on ReverseVision. With this new integration, we can now uniquely illustrate any reverse mortgage option to help our senior clients flexibly leverage their record property equity as they age in place. We look forward to introducing our full suite of products, which includes reverse mortgages, to all eligible borrowers, ensuring they receive the best loan package for their overall homeownership and financial goals.
About the Mortgage Advisor:
Mortgage Coach is an award-winning borrower conversion platform that gives consumers the confidence to transact with educational presentations that model loan performance over time. The company’s side-by-side loan comparisons enable borrowers to make faster, more informed mortgage decisions while enabling lenders to consistently deliver an on-brand advisory home financing experience that increases borrower conversion, retention customers and references. To date, more than 140 mortgage banks, custodian banks, and independent corporate credit unions rely on Mortgage Coach to deliver personalized, modern service that increases revenue and builds customer loyalty. To learn more about Mortgage Coach, visit https://www.mortgagecoach.com or follow @MortgageCoach.
About reverse vision:
Since 2007, ReverseVision, a subsidiary of Constellation Mortgage Solutions, Inc., has served the industry’s leading reverse mortgage lenders and 100% of all reverse investors, including banks and credit unions, mortgage brokers and mortgage brokers. independent mortgage banks. ReverseVision’s enterprise HECM mortgage platform and integrations allow its users to seamlessly create reverse mortgages. ReverseVision’s core platform, ReverseVision Exchange (RVX), is comprehensive and proven to automate the entire reverse lending process, from origination to secondary marketing to closing. The company’s technology is being successfully leveraged as a springboard that helps lenders easily and efficiently enter the reverse space. For more information, visit https://www.reversevision.com/.
Twitter: @MortgageCoach @ReverseVision #HECM #digitalmortgage #reversemortgage
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News source: Mortgage Advisor