ReverseQuest Launches New Software for Reverse Mortgage Lenders
It's often hard to keep up with all of the new technology available to mortgage professionals. We've stumbled across some new tech that could be quite useful to reverse mortgage lenders coming from the folks over at ReverseQuest.
"ReverseQuest launched this week under the leadership of Kevin Gherardi, president of the product’s parent company Reverse Technology Group (RTG) — which also is the owner and operator of the Department of Housing and Urban Development’s Home Equity Reverse Mortgage Information Technology (HERMIT) platform," according Reverse Mortgage Daily.
The cloud-based software contains features that will "allow lenders to service their own customers' loans," according to the report. This is the first time a product of this nature has been created for the reverse mortgage model.
“This prevents servicers from dropping the ball on curtailment events,” said Gherardi according to the RMD report.
“Lenders can now service their own customers if they wish and won’t have to subservice their loans as the only option. Existing servicers can also benefit from using a consistent modernized servicing platform that promotes the industry’s best practices and also aligns with HUD HERMIT business rules.”
To learn more about ReverseQuest and the latest reverse mortgage servicing technology, click on the image above.