ReverseVision, a reverse mortgage technology provider, announced on Monday its president, Joe Langner, will now serve as both president and chief executive officer after just nine months with the company.
Langner will succeed former CEO John Button, who had previously held the title for over nine years and who will continue to advise the corporate board following his succession.
In October, Langner was named a HousingWire Vanguard due to his contributions in housing, specifically his 30 years of experience in mortgage technology and software companies, having held numerous executive positions during critical organizational junctures.
Most notably, Langner held senior roles with Ellie Mae from 2003 to 2011, including senior vice president of sales, chief operating officer and chief sales officer. He also played a vital role in the leadership team that would eventually guide Ellie Mae to it’s 2011 IPO.
“Joe is well-known and respected throughout the mortgage industry for his deep and technologically-grounded understanding of the digital mortgage ecosystem,” said Jeb Spencer, board chairman and managing partner of TVC Capital.
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After his exit from Ellie Mae, Langner went on to serve as executive vice president of Sage, president of PCLender, and most recently, chief executive officer of Blue Sage Solution.
“My time at ReverseVision has only reinforced my conviction that both the mortgage industry and consumers would be best served by establishing HECMs and private reverse loans as foundational programs alongside traditional forward loans,” said Langner.
“All of the 1.5 million senior consumers that take out a home loan each year deserve to be presented with a mortgage option that can also help them achieve their financial and retirement goals,” Langner said.
While reverse mortgages and HECM programs have received a bad reputation, the reverse mortgage space had a surprising uptick in activity amidst the pandemic as older homeowners tapped into their equity to fill the financial gaps brought on by the coronavirus.
According to Inside FHA/VA Lending, reverse lending production increased 56.9% during the first nine months of 2020. HECM originations stood at $13.1 billion as of Sept. 30, with American Advisors being the largest with $3 billion in originations.
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