REVERSE MORTGAGE FUNDING ANNOUNCES THE LAUNCH OF ITS NEW BROKER PROCESSING SERVICE TO SIMPLIFY LOAN ORIGINATIONS
Company’s seasoned third-party originations team will handle many processing responsibilities, providing brokers with added convenience and availability
BLOOMFIELD, N.J. – May 2, 2017 – Reverse Mortgage Funding LLC (“RMF”), one of the nation’s leading reverse mortgage lenders and 2016’s top issuer of Home Equity Conversion Mortgage-backed securities (HMBS), today announced the launch of its new processing service which dramatically simplifies and reduces the amount of time mortgage brokers spend on reverse mortgage origination. With this new program, brokers have the option of letting RMF’s seasoned operations team handle the majority of loan processing responsibilities, which can help brokers devote more of their time to expanding their business or advancing their education.
“At RMF, it is our mission to serve as a trusted partner for all our constituents, and this service is an example of our innovation in action and quest to help all parties achieve peace of mind,” said Mark O’Neil, National Sales Leader of Reverse Mortgage Funding’s wholesale and correspondent channels.
“We have the industry’s most experienced TPO team, and by making our experts available to complete many of the responsibilities that have traditionally fallen on brokers, we are bringing to the market a reliable and trustworthy solution to help reduce the amount of hours invested in the origination process. We believe this service will ultimately provide brokers with the freedom to allocate more of their time to new business opportunities, which will help increase the number of older Americans who are interested in applying for a reverse mortgage.”
Among the many responsibilities RMF’s TPO team will handle via the broker processing service include:
- Reviewing applications and credit reports;
- Ordering appraisals, flood certifications, surveys, inspections, title reports, certificates, abstracts and commitments;
- Performing all necessary verifications for submission to underwriting, including verification of address and tax verification;
- Evaluating real property ownership information, including a title insurance commitment;
- Informing clients of any underwriting conditions or other items needed to gain approval for closing;
- Submitting conditions to underwriter for final approval
Added Mr. O’Neil, “In true RMF form, we promise to deliver an exceptional broker experience from the very beginning of the process to the very end. The broker community and our company share the same end goal, and that is the complete satisfaction of our customers. This service will help limit the number of distractions and delays involved in the reverse mortgage process so that a broker’s customers can start enjoying the benefits of the product more immediately.”
To learn more about RMF’s broker processing service, please call (877) 820-5314. For more information about RMF’s third-party origination business, visit partners.reversefunding.com.
About Reverse Mortgage Funding LLC
Established in 2012, Reverse Mortgage Funding LLC (RMF), NMLS ID #1019941, is one of the fastest- growing lenders in the industry, one of the nation’s largest GNMA issuers of reverse mortgages, and a recognized thought leader in the reverse mortgage business. A wholly owned subsidiary of Reverse Mortgage Investment Trust Inc. (RMIT), the company’s focus is on originating, acquiring, investing in, and managing reverse mortgage loans and securities backed by reverse mortgage loans. The company is headquartered in New Jersey, with corporate offices in New York and California and field offices throughout the U.S. Learn more by calling (844) 804-3863, visiting www.reversefunding.com, or following RMF on Facebook or LinkedIn.