TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/239959
VERIFY software can now provide a paperless workflow, cutting down on maintenance. Norcom Mortgage Offers New Origination Exchange Portal Program designed to complete secure loan exchanges with wholesale and correspondent lenders. I n Connecticut, Norcom Mortgage touted the creation of its new Norcom Origination Exchange (NOX) Portal, a secure loan exchange program designed with the firm's wholesale and correspondent partners in mind. The new portal creates a seamless workflow between employees and partners that starts from when a loan is submitted and lasts all the way through closing and funding, Norcom explained in a release. Scott Blanchard, Norcom's manager of Web operations and the creative mind behind NOX, says his goal was to assist in making business transactions more efficient and eliminating troubleshooting issues. "Good technology allows you to achieve your business goals better and faster by being simple, helpful, and unobtrusive," he said. "We believe that NOX will be all of that and even more." WEB AT WORK ReverseVision Launches Online Education Platform Company aims to get professionals up to speed on the reverse mortgage industry. I n San Diego, ReverseVision, Inc., announced the availability of its latest product: ReverseVision University (RVU), an online education platform designed to teach mortgage professionals the ins and outs of the reverse mortgage industry. Launched as a way to prepare housing finance professionals for the imminent growth of home equity conversion mortgage (HECM) business, RVU will offer courses centered on servicing borrowers and staying ahead of compliance issues. "We were repeatedly told how expensive and time-consuming it is to train new LOs [loan originators] or anyone new to the industry," said Rachel Smith, product manager at ReverseVision. "RVU will supplement the need for in-house, HECM-specific training for new staff and keep experienced staff up-to-date on recent changes. Compared to live training, RVU is more convenient and consistent, and far less expensive." The platform's initial launch includes two course offerings: ReverseVision Fundamentals and ReverseVision Advanced Reversed Mortgage Executive Development (ARMED), each of them short courses designed to teach professionals about complex HECM topics and help guide their strategic decisions. Having already earned approval to become an official Nationwide Mortgage Licensing System (NMLS) Course Provider, ReverseVision Fundamentals is expected to be the first course approved by both NMLS and the National Reverse Mortgage Lenders Association (NRMLA), as well as approved for both NMLS Continuing Education credits and NRMLA Certified Reverse Mortgage Professional credits. "The addition of RVU continues to build our product offerings as well as provide the necessary tools for individuals to succeed in the reverse mortgage industry," said ReverseVision president and CEO John Button. "Our goal is not only to offer the best software for reverse mortgage loans, but also to be the source for the continuing education needed to accelerate one's business." The M Report | 9