Vendor Says “Unique Needs” of Reverse Mortgages Best Served by a Custom CRM


Cloud-based sales and management platform OptifiNow recently announced its successful implementation in reverse mortgage lender operations, saying the often catch-all approach used by more general sales management software customer relationship management (CRM) may not be enough for a targeted business like reverse mortgages.

OptifiNow’s custom reverse CRM platform has been implemented in the operations of San Diego, CA-based Reverse Mortgage Lending originator. The company chose OptifiNow to manage its marketing campaigns and track outstanding loans.

“We were looking for a way to effectively track our prospects and borrowers in a reverse mortgage environment,” said Evan O’Dell, president of Reverse Mortgage Lending. “We quickly discovered that there are very few CRMs that can support reverse products. We considered using a generic CRM, but knew it would be expensive and time-consuming to set up. »

This is when the custom option came into the picture. Having previously built custom CRM processes for other Reverse Mortgage clients that included integrations into Reverse Loan Origination System (LOS) platforms, OptifiNow saw it had the opportunity to meet more specifically to reverse lenders.

“Our custom design-build approach means we can support any type of mortgage,” said John McGee, President of OptifiNow. “Wholesale, retail, forward, backward – we have a wide range of experiences that our customers benefit from.”

Website functionality is also part of personalized offers, designed to capture new leads. OptifiNow is still used by Sun West Mortgage and Open Mortgage, according to a company representative.

The proliferation of additional reverse mortgage business will be part of the business strategy going forward, the representative added. This includes companies dedicated to inversion, as well as term lenders that add inversion to their product offerings. According to the company, simultaneous service for forward and reverse functions is available in a single instance.

When it comes to scalability, OptifiNow offerings aim to meet enterprise needs, the spokesperson said.

“Each new and existing customer we take on gives us a constant evolution of features and functionality that is applied to our entire customer base,” the spokesperson told RMD in an email.

In 2020, OptifiNow entered into a partnership with LOS ReverseVision, using its loan import application programming interface (API) to streamline the loan origination process for Open Mortgage.

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