Reverse Mortgage Solutions has been selected as a finalist in the prestigious Mortgage Technology Awards competition, which annually identifies leaders in a select few categories recognizing technology excellence.
RMS is a finalist in the “Fix-It” category, which spotlights “a technology tool that provides an effective solution for a particular industry problem, need or channel,” according to SourceMedia, sponsors of the contest. In this case, that industry channel is reverse mortgages, one of the few bright spots in the mortgage market today and one of the fastest growing.
RMS was established in the Spring of 2007 with a $7 million investment from JAM Equity Partners, LLC and its affiliates. In only 15 short months since, the company has rolled out a servicing and sub-servicing system (with over 12,000 loans boarded), introduced a front-end origination system (Compass) and issued its first Ginnie Mae secondary market security of reverse mortgage loans.
“The pace has been absolutely breath-taking,” says Kevin Gherardi, RMS chief information officer, and a recognized technology leader in the reverse mortgage sector. “We set an ambitious agenda for ourselves at the outset, but even so we’ve exceeded nearly every benchmark we established. With all due modesty, I believe that is what the Mortgage Technology judges have acknowledged in naming us a finalist in their highly respected competition.”
Winners of the MT awards will be announced at a ceremony scheduled to take place in mid-October. Did I mention that I’ll be rolling out the red carpet for the Reverse Mortgage Awards here at RMD? More details coming soon.