The U.S. Patent and Trademark Office awarded QuantumReverse, Inc. a patent for the innovative way it handles the HECM Financial Assessment.
The patent with the number 10,678,996 names Thomas Martignoni, the CEO of QuantumReverse, Inc., as the inventor.
Thomas Martignoni is the founder of QuantumReverse. Previously, he founded the reverse mortgage loan origination platform ReverseVision, Inc., which he sold in 2012. He holds several reverse mortgage-related patents.
Completing the Financial Assessment has always been a challenge since HUD instituted it in the fall of 2016. By granting the patent, the U.S. Patent and Trademark Office recognizes the innovative approach of QuantumReverse in handling the particular challenges of Financial Assessment. Instead of navigating and completing data across seven screens, users can accomplish the same tasks in just three with the assistance of automation.
It all starts with the credit report. Artificial Intelligence technology analyzes the report, flags duplicate entries, and pre-selects the data that needs to go into the Financial Assessment. Then it intelligently matches credit report data to pre-existing manual entries in the Financial Assessment module of the software. With one click, the Financial Assessment data pulled in through the credit report automatically validates and updates the loan.
As Thomas Martignoni describes it, "In 2017, five years after I sold my old company, I got back into the industry. Together with Denis Shchasnovich, we started QuantumReverse, the reverse mortgage origination platform based on the latest generation of technologies. I returned to the industry because I have missed it; I missed the people and the challenges of the industry - an industry that is never boring! But mostly, I love to make good software. Particularly together with our team, most of whom Denis and I have already worked with in the previous company."
QuantumReverse is based on the latest technology stack that is also employed by companies such as Google.
"The flexibility and improved performance we can reach with the new technology stack is amazing," says Martignoni. "Financial Assessment is just one example of how our customers benefit from the technology. QuantumReverse is a truly collaborative tool where multiple users can work in the same loan simultaneously. A processor can update the appraisal while another user enters other Financial Assessment information. There is no locking, no synchronizing, no loss of data. People can do their job when they have time, or when it has to be done, and they don't have to wait until the loan is unlocked because another person is working in it."
And because QuantumReverse software is fully web-based, the data is always up to date and displayed in real time.
Anyone interested in learning more about QuantumReverse’s innovative solutions may contact them via email@example.com.
2020 06 24 HECM Financial Assessment Patent.docx
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Original Source: US Patent Awarded to QuantumReverse, Inc.