ReverseSoft soln

Features: XL Dynamics India Pvt. Ltd, has launched ReverseSoft, an integrated web solution designed for managing Reverse Mortgage Loans.

A Reverse Mortgage is a type of loan available to borrowers over the age of 62, as a way of converting their home equity into one or more cash payments while continuing to reside. Repayment of the loan is deferred until the borrower is no longer living in the home.

The ReverseSoft is a complete loan origination and servicing platform for the Mortgage Banks in the United States. It integrates with the company's flagship product Mortgagesoft OnLine (MOL). MOL automates the end-to-end processing cycle for the Forward Mortgages, and is being widely used by leading Mortgage Banks in the United States.

Alok Bansal, COO, XL Dynamics, said, "With the integration of ReverseSoft with MOL, we are able to bring the entire spectrum of Mortgage Products in the United States on one single platform."

" ReverseSoft offers a fully automated and integrated solution that will help us scale up our product offerings on Reverse Mortgage Loans, such as the Home Equity Conversion Mortgage (HECM) and Home Keeper," said Anita Agarwal, vice president, Sun West Mortgage.

Sun West Mortgage Company, Inc., a full service Mortgage Banker for over 26 years, has implemented ReverseSoft.