Consumer Credit Union (CCU) has finalized an investment in CU Community, LLC, dba 7 Mortgage, a credit union service organization (CUSO) based in Knoxville, TN. The investment from the credit union will make the organization a minority owner in 7 Mortgage. 7, LLC, the wholly owned holding company of ORNL Federal Credit Union, will remain majority owner.

CCU, based in Greeneville, TN, has been a client of 7 Mortgage since 2007, joining as one of the first partner credit unions of the CUSO. Established in 2003, 7 Mortgage is licensed in seven states and provides mortgage services to its partner credit unions, with a goal of helping credit unions like CCU become full service providers to their members.

"Consumer Credit Union has been one of the longest tenured clients of 7 Mortgage and we are thrilled to have them now join us as owners to further the mission of helping credit unions deliver much needed mortgage services to credit union members throughout the Southeast,” said Wendy Robinson, President of 7 Mortgage.

Stephen Cutshall, SVP & Chief Mortgage Officer of CCU, will join the Board of Managers of 7 Mortgage.  “7 Mortgage provides services that allow Consumer Credit Union to become more efficient in its lending process through scale. In a business where relationships matter, we are pleased in partnering with 7 Mortgage. As owners, we look forward to the continued success together with them,” said Cutshall.

Industry leading reverse mortgage software firm continues expansion 

SAN DIEGO, Calif., Feb. 3, 2022 — ReverseVision®, the leading national provider of Home Equity Conversion Mortgage (HECM) and private reverse mortgage sales and origination technology, announced that seasoned marketing executive Scott Shepherd has joined the company to head its marketing efforts. As head of marketing, he oversees ReverseVision’s marketing department and is responsible for the design and implementation of its new marketing strategy.

Founded in 2007, Shepherd joins ReverseVision at a turning point in the company’s history as the market leader in reverse mortgage automation solutions. ReverseVision has been putting in place the necessary building blocks to support an increasing need for reverse mortgage products among lenders and borrowers.

“I am elated to join the highly passionate, dedicated team at ReverseVision and look forward to taking its marketing and branding to the next level,” said Shepherd. “Following a high-volume re-fi boom, the mortgage industry’s changing business landscape is ripe to increase the adoption of reverse loan products via multiple delivery methods. ReverseVision is well-positioned to capitalize on these opportunities, while helping the mortgage industry expand and evolve with these much-needed loan products.”   

Shepherd has an extensive marketing background and a proven track record of successful execution in marketing, communications and branding. Over the course of six years, he was central to the development and growth of the eOriginal brand into one of the preeminent digital mortgage lending platforms in the country, ultimately leading to an acquisition by Wolters Kluwer in 2020.

Prior to joining ReverseVision, he headed the marketing strategy at Unleashed Technologies, a web development and digital services firm with commercial and non-profit clients in multiple vertical markets, including financial services. His strategic marketing efforts resulted in the company successfully positioning its solutions in an easy-to-understand, digestible manner for prospects. 

Over the course of his career spanning more 25 years, Shepherd developed a broad base of knowledge involving nearly all facets of marketing in multiple industries within different sectors. He has managed marketing communications for several companies ranging from non-profit entities, private, international, government, education and consulting firms. In addition, he has been an editor, journalist and a public relations specialist.    

“We welcome Scott to the team at ReverseVision and since joining us, he’s already had a positive impact internally and externally,” said Bill Mitchell, CRO at ReverseVision. “Scott is an experienced marketing professional who is accustomed to working in fast-paced, dynamic environments operating in growth mode. We are lucky to have him on board at a pivotal juncture as we experience a surge in demand for reverse mortgage technologies.”

Scott holds a B.A. in journalism from Buffalo State College and an M.S. in management with a focus in marketing from the University of Maryland. 

Loans of Up to $3 Million Offer Flexible Terms, Such as 

LTVs of 80% or Higher

CHARLOTTE, N.C. — January 24, 2022 — To help mortgage bankers and brokers compete for high-net-worth borrowers whose needs exceed 2022 conforming loan limits, Non-Agency/Non-QM lender Deephaven Mortgage is announcing a new Jumbo-Prime loan product.

Deephaven is now providing loans of up to $3 million for primary residences, second homes and investment properties (such as two- to four-unit homes) with highly flexible terms--including maximum LTVs of 89.99% for loans up to $2 million, and 80% for mortgages above that amount, with no PMI.

“Whether they want to snap up coveted rentals or a mansion outside the city, these high-value customers expect white-glove treatment without delays,” said Shelly Griffin, Senior Vice President, Client Development, Deephaven. “Our account representatives work collaboratively with mortgage bankers and brokers to make fast decisions, expedite paperwork, and manufacture products that meet these borrowers’ specific needs.”

Deephaven will provide these full-documentation loans to individuals with DTIs of up to 43% and credit scores down to 660.