Founded in 2011 by mortgage industry veterans, ACM is a privately-held mortgage lender serving seven states in the Mid-Atlantic region. The company hired Senior Vice President Craig Minton, formerly of Bank of America and Wells Fargo, to establish a new HECM division with a special focus on the HECM for Purchase product. HECM for Purchase is an FHA-insured reverse mortgage program through which qualified borrowers can purchase a home with no required monthly mortgage payment.
“Whether it be to purchase a new home or refinance an existing home, the reverse mortgage loan is an excellent addition to ACM’s portfolio of quality loan products that help borrowers achieve their financial and homeownership dreams,” said Minton. “Our dedicated reverse mortgage consultants will work closely with our experienced team of traditional loan officers and real estate agent partners to serve the needs of our senior clients.”
“Atlantic Coast Mortgage is a highly respected and growing regional lender, and we are delighted to facilitate their entry into the reverse mortgage business,” said ReverseVision Vice President of Sales and Marketing Wendy Peel. “The ACM team will benefit from technology that supports the entire reverse mortgage process from end to end, and its customers will gain access to a home-equity option that opens new doors for purchasing a home or extending retirement income.”
ReverseVision’s RVX serves as a centralized exchange, connecting all participants in the lifecycle of a reverse mortgage by allowing them to log in to a single system to share documents and information for each part of the loan process, encompassing everything from point-of-sale, processing, underwriting, funding and post-closing to secondary marketing.
“RVX is a very user-friendly software, which is why it’s the go-to technology for the reverse mortgage industry. My past experiences using RVX were incredibly positive, so it’s the software I recommended we use at ACM,” Minton said.
ReverseVision’s Professional Services team traveled to ACM’s Fairfax, Virginia, headquarters to oversee turnkey integration of RVX into ACM’s origination software over the course of just two days.
ACM plans to grow its dedicated team of reverse mortgage consultants and is actively seeking loan officers with HECM origination experience.
“What sets us apart from most of our competitors is the level of service we deliver to senior clients,” said Minton. “Our reverse mortgage consultants provide in-home consultations to each client so they can feel comfortable in their own setting while learning about the reverse mortgage loan program.”
“Our senior population is healthier and as a result is living longer,” Minton continued. “The biggest concern among seniors is not dying — it’s running out of money. For many seniors, the reverse mortgage is a safe and effective strategy to assist in funding their retirement.”
Recognized as a Deloitte's 2015 Technology Fast 500Ô Company, ReverseVision, Inc. is the leading software and technology provider for the reverse mortgage industry, offering products and services focused exclusively on reverse mortgages. More reverse mortgages are originated monthly using ReverseVision technology than all other reverse mortgage LOS combined. ReverseVision has partnered with some of the finest and fastest-growing lending organizations in the U.S. to provide the leading reverse mortgage technology to brokers, correspondents, lenders and investors.
ReverseVision is recognized as a driving innovator in the reverse mortgage industry. ReverseVision continues to improve its software with frequent new innovations and by building on pioneering capabilities in reverse mortgage interactive graphs, scenario analysis, multi-environment performance analysis and workflow in the origination process.
For more information, visit http://www.reversevision.com.
About Atlantic Coast Mortgage
Headquartered in Fairfax, Virginia, Atlantic Coast Mortgage (ACM) is a privately-held mortgage lender that has closed billions of dollars in loans for thousands of satisfied homebuyers in the Mid-Atlantic region since 2011. ACM’s streamlined loan process provides all parties with real-time status updates and gets borrowers the loans they need significantly faster than larger institutions.
For more information, visit http://www.atlanticcoastmortgage.com.