Reverse Mortgage Solutions, Inc or “RMS” was established to cope with the ever-increasing demand for reverse mortgage loan programs. Reverse Mortgage Solutions, Inc is an “approved servicer” by Fannie Mae, Housing and Urban Administration as well as Ginnie Mae. This firm mainly provides Sub-Servicing solutions. Owning to this specialty service, the firm's clients' are able to extend reverse mortgage solutions to the senior individuals without making use of their own servicing system as well as servicing team.
Reverse Mortgage Solutions Inc, is also into consultation services. The consultation services include offering suggestions for funding, loan originations, personnel support and training.
Consultation is also offered to the mortgage banks, investment bankers, retail bankers and credit unions.
RM-Navigator(R) System:
Reverse Mortgage Solutions Inc has a special system, which provides “user interface for end-to-end reverse mortgage servicing”. The five reverse mortgage payment options are also supported by the system. These five options include:
Tenure
Term
Line of Credit
Modified Tenure
Modified Term
Features of the RM-Navigator(R) System
Some of the areas, which are supported by this specialty system include:
Interest accrual
Monthly income Plan
Calculates principal limits
ARM (adjustable rate mortgage) adjustments
SFSA or Service Fee Set Asides
The servicing functions take care of include the following:
Occupancy compliance
Insurance compliance
Monitoring property tax
Monthly statement issuance
Draw requests, including direct checks as well as ACH
Payoff requests
Notifying alteration in rates of interest.
Products and services offered by Reverse Mortgage Solutions, Inc:
The various products as well as services extended by the company include the following:
Loan Boarding
Foreclosure
REO or Real Estate Owned management.
End-to-End Training
Collection Management
Private Label Sub Servicing
Loss Mitigation
NPV Financial Modeling
Consultation services related to Reverse Mortgage
Reverse Mortgage Loan Servicing
Bankruptcy
In a nutshell, the Reverse Mortgage Solutions, Inc may be regarded as a “one stop reverse mortgage solutions shop”.