More specifically, the bank has selected the RV Exchange (RVX) loan origination system to support its growing home equity conversion mortgage (HECM) division.
In a release, Chad Cavanaugh, a branch manager who oversees the lender’s HECM division from its Farmington Hills, Mich., location, says the bank chose to work with ReverseVision because of its reputation as the industry standard and its smooth integration with other systems.
“RVX integrates easily with our other software, so salespeople and loan officers can all easily work together on the same file,” Cavanaugh says. “Information only has to be entered once, and then RVX populates all relevant programs and documents. This makes our process more efficient and helps position us for some significant growth in the HECM arena.”
Bank of England Mortgage has been in business for 118 years and provides customers access to hundreds of mortgage products. It boasts more than 1,000 employees and has more than 93 locations in 39 states.