ReverseVision Launches New Reverse Online University
ReverseVision, Inc. has announced the launch of RV University (RVU), an online education platform created to teach mortgage professionals about the reverse mortgage industry. Many of RVU’s courses will offer continuing education credits from the Nationwide Mortgage Licensing System (NMLS) and the National Reverse Mortgage Lenders Association (NRMLA) for its coveted Certified Reverse Mortgage Professional (CRMP) distinction.
As the Baby Boomer population continues to age, the reverse mortgage industry is poised to grow dramatically. Many reverse lenders are already struggling to find experienced originators and back-office staff, at a time when more and more traditional lenders are recruiting reverse mortgage people to support this offering as a replacement to their lost refinance business. Addressing this critical resource shortfall is one of the driving forces behind the launch of RVU.
“RVU is a fantastic tool for reverse mortgage professionals built as a direct response to challenges being experienced throughout the industry,” said Rachel Smith, product manager at ReverseVision. “We were repeatedly told how expensive and time-consuming it is to train new LOs and fulfillment people new to the industry. RVU will replace the need for in-house, HECM-specific training for both new and experienced staff. Compared to live training, RVU is more convenient and consistent, and far less expensive,” Smith said.
RVU courses are also essential for companies looking to ensure their staff members are speaking the same language with respect to reverse mortgages. By utilizing RVU, companies will build a team of knowledgeable reverse mortgage experts who can better serve their borrowers, and best position themselves to avoid any training-related issues that may arise from a CFPB audit.
“We are excited to finally have an on-line training platform that specifically addresses the needs of the reverse lending space,” said Marta Harder, COO for Colorado based 1st Reverse Mortgage USA. “For years, there have been web-based schools for traditional lenders, but until now our industry was being ignored,” continued Harder. “We are growing rapidly, and being able to get all of our staff aligned in their knowledge of the industry is key to our success.”
RVU’s premier course is Reverse Mortgage Fundamentals, a two-hour class that educates participants on the key laws and principles that comprise the HECM program. Reverse mortgage professionals looking to brush up on the newest changes and sharpen their understanding of complex topics will appreciate the course’s simplicity, while forward mortgage professionals looking to break into the reverse space will find the material comprehensible and thorough.
Because RVU is Internet-based, self-paced and in plain English, (along with many other features), it is an ideal solution for companies looking to expand their training programs while saving money and time.
“The most important factor that drove our decision to launch RVU is that it will help the players in the space to grow at a pace that should match the industry’s demand,” John Button, president and CEO of ReverseVision said. “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.”
“These materials are not from HUD or FHA and were not approved by HUD or a government agency.”