Reverse Mortgage Technology Platform ReverseVision announced this week that it has launched Amazon Web Services (AWS) as the cloud technology provider of choice. This describes the company as part of its efforts to transform its lending systems (LOS) platform and management software into To “establish reverse mortgage lending as mainstream lending programs by bridging the technological gap between reverse and forward lending systems with their flexible, Cloud-enabled architecture is closed ”, it says in a company announcement.
We thank AWS for the flexibility to increase the agility of ReverseVision and to adapt to the needs of the company.
“The scalability of AWS enables ReverseVision to accommodate large volume fluctuations without impacting platform performance,” the announcement said. “In addition, AWS ReverseVision provides the ability to build and scale a powerful API environment that supports dynamic connectivity with the full tech stacks of lenders.”
ReverseVision’s chief technology officer, Jim Magner, said that there has been a demonstrable improvement in performance since implementing AWS in the company’s operations.
“Moving to AWS is important to ReverseVision’s broader technology strategy of enabling lenders to incorporate reverse mortgage into their forward mortgage loan workflow,” said Magner. “Older Americans have over $ 8.05 trillion in home ownership and have a strong need for financial flexibility. The offering of reverse mortgage loans alongside traditional loans will expand the options for 1.5 million Americans over the age of 62 who take out a mortgage each year. “
According to ReverseVision, AWS has a more solid market position in cloud services. Some of its main competitors are Microsoft’s “Azure” platform, Google and Dell Technologies.
ReverseVision earlier this year restructured its technology service plans and pricing matrix to streamline lenders’ entry into the reverse mortgage business while aligning its offering on a broader mission of providing more appropriate service to senior customers using FHA loan programs.
So is the company announced this year that Joe Langner, set first as the company’s new president in 2020 promoted to an expanded role of the President and Chief Executive Officer (CEO). Shortly after announcing the promotion, Langner announced to RMD that ReverseVision intends to expand its partnerships with third-party software companies to leverage these APIs to streamline credit processes, while expanding existing offerings is a priority in 2021.