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M R EP O RT | 7 MTECH Advantage loans are right for borrowers with nontraditional income sources such as self- employment or contract employment, often verifiable by such documents as bank state- ments, who want to purchase a home or re- finance higher loan balances. These programs may help borrowers with credit challenges or recent housing events like bankruptcy or foreclosure. Carrington's Investor Advantage Program highlights include no personal income requirements, with qualification based on an investment property's cash flow. According to Carrington, ProcessIQ will enable CMS to assist more brokers and serve as a superior vendor partner. The introduction of ProcessIQ is another welcome addition to the company's full range of government and non-QM loan products, making Carrington's services more comprehensive than ever before. Reverse Tech Provider Acquired CONSTELLATION MORTGAGE SOLUTIONS SET TO PURCHASE PROVIDER OF PRIVATE REVERSE MORTGAGE SALES ORIGINATION SOFTWARE, REVERSEVISION. C onstellation Mortgage Solutions Inc. (CMS) has announced the acquisition of ReverseVision Inc., a provider of Home Equity Conversion Mortgage (HECM) and private reverse mortgage sales origina- tion software. The deal includes ReverseVi- sion's core platform, ReverseVision Exchange (RVX), RVDOC Composer (RVDOC) that provides customized and compliant reverse mortgage documents, and ReverseVision Sales Accelerator (RVSA) which includes ad- vanced loan modeling and comparison tools. The acquisition of ReverseVision marks CMS' second in the mortgage space, follow- ing the acquisition of LOS and LSS provider, Mortgage Builder in 2019. "Constellation and ReverseVision share a dedication to the industries and custom- ers we serve, making this a big win for all," said Stephen Ryczek, General Manager of Constellation Mortgage Solutions. "ReverseVision's commitment to meeting the evolving and unique needs of their customers is demonstrated by the immense recognition both their products and team have received in the industry. This acquisition expands our footprint in the digital mortgage ecosystem, and we are thrilled to have them join us as we continue to develop innovative and streamlined technology solutions in the lending space." Founded in 2007, ReverseVision's reverse mort- gage platform and HECM products leverage inte- grations and APIs that open the total addressable market to allow its users to originate reverse mortgages alongside their traditional lending portfolios, creating seamless lending experiences, and expanded opportunities. "The ReverseVision team is excited to join Constellation Mortgage Solutions and looks for- ward to the next chapter of the ReverseVision story under Constellation's stewardship," said Joe Langner, former CEO and President at ReverseVision. "Constellation has a proven track record for supporting its businesses and em- powering them to advance the industries they serve. Our team looks forward to building on our shared principles to continue collaborating with lenders in their mission to help borrowers achieve their financial goals." New Option for the Self- Employed EQUIFAX ANNOUNCES THE EXPANSION OF ITS MANUAL VERIFICATION SERVICE FOR SELF-EMPLOYED BORROWERS. E quifax has announced a new enhance- ment for its manual verification offer- ing—the Self-Employed Verification of Employment (VOE) enhancement—designed for use by lenders and other credentialed verifiers that need to qualify self-employed individuals who don't have W-2s or other conventional payroll records. An estimated 16 million workers identify as self-employed in the U.S., according to Pew Research Center. Manual verifications from Equifax complement the automated service provided by The Work Number database, an automated income and employment verification service. When informa- tion is not instantly available digitally through The Work Number, the manual verification options can help keep decision processes moving forward. Additionally, verifiers may choose to request the Self-Employed VOE offering directly. "Equifax is committed to providing lenders with complete coverage for their verification needs," said Scott Maxfield, VP of Verifications at Equifax Workforce Solutions. "In addition to instant digital verifications provided by The Work Number, we also deliver more than two million researched verifications of income and employment annually. Harnessing our more than 25 years of verification expertise, our new Self-Employed enhancement will help to fur- ther simplify the decisioning process for self- employed consumers with uniform, consistent, and auditable results." With the enhancement, credentialed veri- fiers can input an applicant's employment and tax preparer information when submitting a Self-Employed VOE request. Equifax teams will then seek to validate the applicant's busi- ness and, when provided, tax preparer, obtain a copy of the business/regulatory license, and work to contact the tax preparer. Anywhere. Anytime. MReport Digital Bringing Today's Lending Headlines into Focus, MReport Digital Puts Mortgage Banking News at Your Fingertips Experts you trust. People you know. News you want. MReport is putting essential mortgage market news at your fingertips with our new digital edition, now available online via your smartphone, tablet, or computer. Enjoy the magazine at your desk, and tap into MReport Digital's easily accessible platform anywhere, anytime. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MReport believes it's time to think differently about the mortgage industry. Because the American Dream is evolving . . . are you? Subscribe to MReport and MReport Digital now! Call 800.856.8060 or connect with us online at to take advantage of our special introductory offer! powered by THEFIVESTARINSTITUTE

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