The release of prime+ 12.1, which will be installed for all Prime Alliance customers on August 21, 2012. prime+ 12.1 is the latest releaseprime+ 12.1 benefits the entire mortgage team. The idea is simple: automate notifications throughout the mortgage process that prompt action and alert team members and borrowers to important changes and events impacting the lending lifecycle.
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July 26, 2012
CLEVELAND, OH:
Mortgage Information Services, Inc. (MIS) is proud to announce that it has joined the National Reverse Mortgage Lenders Association (NRMLA) and is attending their Annual Meeting and Expo as a Gold Sponsor, which is being held in San Antonio, Texas October 15th-17th, 2012.
MIS believes that NRMLA is an integral part of the reverse mortgage market and that their guidance is critical to the growth and health of the industry. MIS is honored to be a part of this nationally recognized organization and looks forward to offering its support, not only to NRMLA, but also to the lenders, servicers and borrowers in the reverse mortgage community.
About MIS, Inc.
MIS has been a leading national provider of real estate information to the residential mortgage market since 1990 and offers title insurance, settlement services and valuations to loan originators and servicing companies. From its centralized platform, MIS covers the entire country allowing its clients to work with a single point of contact for each of their orders.
MIS’s commitment to providing superior customer service is unmatched in the industry, ranking MIS high on both regional and national vendor management scorecards.
San Diego, Calif., July 10, 2012—Security One Lending announced today that it is expanding its Wholesale Lending Unitwith the addition of new leadership and a production team of top account executives. Mike Mooney, formerly with MetLife’s Reverse Mortgage Wholesale business, has joined Security One as Senior Vice President and will lead the firm’s aggressive plans to grow market share in reverse mortgage wholesale lending by 2013.
In addition to Mooney, Kathy Hood, Derek Marks, Mark O’Neil, and John Burich—all previously reverse mortgage account executives at MetLife—have joined Security One’s production team. Each team member brings a respected book of business that will contribute to the existing Wholesale Lending Unit that Security One has built over the past three years.
“This move reinforces Security One’s commitment to top mortgage brokers around the country,” said Torrey Larsen, president and CEO of Security One. “Our combined team of brokers is best in class, offering not only a full suite of products and productivity tools, but also dedication to a hands-on approach with clients that ensures a high level of service.”
Security One has established an east coast site in Bloomfield, N.J. where the expanded production team will operate. The firm accelerated the approval process for brokers previously approved by MetLife in order to provide liquidity to the industry. In addition, brokerswill have access to expanded productivity tools and competitive price levels.
“The distribution of programs to the marketplace through a network of reputable Wholesale Partners is an important component of Security One’s growth plan,” added Larsen. “At the end of the day, we are here to help better the retirement of a growing number of older Americans. To do that, we need to be the best at what we do. The expansion of our Wholesale Lending Unit has positioned us to achieve these goals.”
This expanded business model also complements the Retail Franchise that has been established through Security One’s Consumer Direct and Distributed Retail business channels.
“Security One has created a great reputation in the wholesale space,” said Mooney. “The firm has been an innovator and quick to adapt to changes in today’s reverse mortgage market. Combined with a senior management team that I highly respect and trust, it was an easy decision to join Security One.”
Security One operates coast-to-coast, currently lending in 39 states with license applications pending in four additional states. The firm offers a diversified mix of reverse and forward products through a variety of distribution channels, including retail, consumer direct, and wholesale to support its lending efforts. Security One Lending is a FNMA Approved Seller/Servicer based in San Diego, Calif.
For more information on Security One Lending, visit www.s1l.com.
“We are very excited about the release of these new modules as they round out the feature set to provide a complete, cost effective and lightning fast solution to reverse mortgage lenders,
Continue readingWendover Consulting and Portfolio 360 entered into a strategic marketing alliance to provide portfolio valuation and due-diligence services to the reverse mortgage industry.
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ecurity One Lending Loan Originators will have the opportunity to earn tracking stock based upon their individual productivity over the next 5 years. The President‟s Club creates
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More than 70 Real Estate Agents attend recent class in Bend, Oregon
Security One Lending and American C.E. Institute have created a joint educational system that provides Real Estate Agents the opportunity to learn about the Reverse Mortgage and its impact on their business. American CE Institute has the only Reverse Mortgage CE Class offered by the National Association of Realtors (NAR) to its 1.2 million members.
Results from the most recent training have been nothing short of remarkable. The response from those attending the class are summarized by S1L’s Regional Manager, Sharon Falvey “Yesterdays’ class held close to 80 Realtors and was standing room only 24 hours after the close of the event here are my results (please take note that I am still receiving text messages, phone calls and e-mails)
See attached link from Reverse Fortunes and American CE Institute from recent classes by clicking here.
“The Purchase Reverse Mortgage product may very well be the ‘Sleeping Giant’ of the senior real estate market”, stated Michael Banner-Founder of American C.E. Institute. “Record low rates of returns on CD’s, Annuities and Savings (vehicles commonly used by seniors) combined with record losses in their investment portfolios in recent years have created the ‘Perfect Storm’ for so many seniors in this great nation. Realtors having the ability to offer a mortgage product with ‘no monthly principal & interest payment’ may just be the answer to literally millions of those seniors.”
Security One Lending, a FNMA approved Seller/Servicer, based in San Diego, CA currently lends in 32 states and will expand to 40 states by 2012. Security One Lending originates both traditional forward mortgages and reverse mortgages through multiple distribution channels, including retail, consumer direct, and wholesale. S1L is an approved Seller/Servicer with FNMA
For more information on Security One Lending:Contact us here or
Call (866) 480-4715
[vimeo id=”37386675″ width=”625″ height=”352″]
December 13, 2011 – Mortgage Cadence, LLC, a leading provider of Enterprise Lending Solutions (ELS), Default Servicing Technology and Document Services for the financial services industry, is excited to present a series of short films under the guise of “The Lender Blender” to the public. This series of shorts irreverently illustrates the dangers that come with mismanaged processes in the midst of an industry overhaul.
Contrary to the light-hearted nature of these films, Mortgage Cadence is a solution-oriented system that continuously seeks to help lenders increase their return on investment and bottom line while maintaining compliance. The film portrayals of disarray and lack of compliance serve as a magnifying glass on some of the issues facing lenders today. Mortgage Cadence’s technology platform helps lenders minimize risk through the use of advanced technology. The product suite is proven to increase employee productivity through the elimination of paper and the creation of custom data-driven workflows.
Along with a modern sense of humor, the videos strive to highlight the asset Mortgage Cadence can be for companies struggling with their lending processes. “The need for workflow automation to streamline processes and reduce risk is more important now than ever before,” stated John Levonick, chief legal and compliance officer for Mortgage Cadence. “Outdated processes and lack of compliance is unsuitable for a sustainable business where the risk of buybacks has never been greater. Despite the comedic nature of The Lender Blender, I hope it inspires lenders to reevaluate their lending practices to determine how they can increase efficiency while ensuring compliance.”
By offering seamless automated workflow that is not only efficient and dynamic but also comes with a team of dedicated legal resources and subject matter experts, Mortgage Cadence can take your business from merely surviving to thriving. Staying compliant with the most recent regulations can feel like an added pressure, which is precisely why we are dedicated to focusing on the rules so you can focus on growing your business. You can find the video series located at thelenderblender.com or http://www.youtube.com/thelenderblender.
About Mortgage Cadence, LLC
Mortgage Cadence is the leading provider of Enterprise Lending Solutions (“ELS”), which employ an extensive financial services data model wrapped with a native rules engine to deliver data-driven workflow automation tools to mortgage banks, lenders, service providers and servicers. Mortgage Cadence has developed enterprise solutions that integrate all functions and data elements required to optimize, manage and score lending performance. The mortgage industry is always shifting to meet demands and minimize risks. Mortgage Cadence’s flexible solutions continue to evolve to meet those needs. To learn more, please visit http://www.mortgagecadence.com.
Elsa Pollock
Marketing Coordinator
720.389.4611
Minimize Effort. Maximize Profitability.
Mortgage Cadence, LLC
www.mortgagecadence.com
At Mortgage Cadence we are committed to providing world-class customer service. If you would like to provide feedback on the service you received, I invite you to contact my manager at svolling@mortgagecadence.com
In a blockbuster announcement, two of the top leadership groups in the reverse mortgage industry have disclosed their intention to join forces effective immediately. Security One Lending, #6 in national market share among active lenders, will combine with Premier Senior Home Equity, a new company that has been aggressively rolling-up industry brokers excited about the value-added benefit and the wealth realization plan being offered.
Torrey Larsen, who will continue to lead Security One Lending as President/CEO, says ”the continued execution of our strategic plan, together with the addition of Premier, will position us as one of the top 5 reverse mortgage businesses in the country”. Because of Premier’s strong leadership team, Mr. Larsen can focus on continuing to build the Security One brand which recently signed Pat Boone as national spokesman. Additionally, he will concentrate upon the development of new products for the reverse mortgage space, improving the origination experience through both technology and fulfillment enhancements, and immediately applying for GNMA Issuance approval. Mr. Larsen believes “this strategic play will enable Security One Lending to increase its bandwidth, relative to both its capital structure and management team, so that we can fully leverage our ability to capture production in a fragmented market. Industry consolidation will continue throughout 2011 and 2012, in our opinion.”
Bart Johnson, former President of Financial Freedom and Co-Chair of NRMLA, and long-time industry entrepreneur Tony Garcia will lead the Premier Senior Home Equity team. After its launch several months ago, Premier enjoyed immediate traction with broker firms which committed to convert to member branches. Tony Garcia observed that: “The combination with S1L will significantly simplify the usual lengthy and expensive approval and licensing process, and will allow us to scale Security One’s platforms rather than building our own.” Bart Johnson also identifies this move as a value maker: “We see a huge advantage in foregoing administrative tasks to accelerate market consolidation now in order to fill the vacuum created by the exits of Bank of America and Wells Fargo.” As a result, the company will aggressively recruit high performing retail broker branches. The combined firm expects a solid position among the top 5 reverse mortgage originator within six months, and to seriously contend for industry leadership.
JAM Equity Partners, a long-time reverse mortgage industry investor, will maintain its ownership interest in Security One Lending. Jim Benson (former President & CEO of John Hancock Life Insurance Company) and Alan Botsford (Parthenon Capital, among others), manage a financial services private equity firm which recently invested in Premier. Both investment firms agree that current industry conditions create a unique investment opportunity. According to Jim Benson, “We understand that it made sense for several large financial institutions to shed non-core reverse mortgage businesses in response to financial pressure. That just encourages us that the market is even more exciting for companies such as ours that recognize reverse mortgage as a primary business”. Alan Botsford confirmed the compatibility of Premier Senior Home Equity with Security One Lending: “We sought an entrepreneurial partner with a strong operating platform, knowledge and experience in both positive and negative economic environments, and above reproach regulatory compliance. In addition they had to be good people with whom to do business. Security One Lending fit the bill perfectly”. All believe that the two leadership teams will combine seamlessly to build a valuable and socially significant enterprise. Both firms will now share ownership in the combined businesses and will brand it as Security One Lending because of the brand’s already strong position in the marketplace.
Security One Lending is currently licensed in 30 states, and plans to be licensed in 40 states by year end. The firm has both a diversified product mix (reverse and forward lending) and has created a variety of distribution channels (retail, consumer direct, and wholesale) to support its lending efforts. The company is a FNMA approved Seller/Servicer based in San Diego, CA. For more information on Security One Lending call toll free (866) 480-4715. To join the Premier team call Tony Garcia (760) 476-3111 or Bart Johnson (949) 336-6285.
The time where warehouse lending was a bottle neck for reverse mortgage lenders may be over.
With UBS getting back into the reverse mortgage space as a warehouse lender, one of the world’s largest banks is showing support for the reverse mortgage. UBS operates a lending platform that offers agency, government, USDA RHS RD, HECM and non-conforming jumbo products. Thanks to its extensive experiences in the reverse mortgage space, UBS understands the particularities of the HECM and can provide an outstanding service. Several of the nation’s top lenders are closing and funding loans with UBS.
HECMWorld.com is THE resource for mortgage professionals and reverse mortgage originators to find engaging, entertaining, and educational content through commentary, short video segments, and marketplace analysis.
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