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Home / India News / 2007 / February / February 6, 2007
XL Dynamics Releases ReverseSoft® - A One Stop Platform for Reverse Mortgages

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XL Dynamics Releases ReverseSoft® - A One Stop Platform for Reverse Mortgages

Mumbai, Maharashtra, India

XL Dynamics, India, today announced the release of 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.

ReverseSoft® seamlessly 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.

Speaking on the occasion, Alok Bansal, COO, XL Dynamics, said: "The launch of ReverseSoft® marks an important milestone in extending our Product Suite, and is a step forward in our endeavor to automate the Mortgage Industry in the US through cutting-edge web-enabled solutions. 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."

Sun West Mortgage Company, Inc., a full service Mortgage Banker for over 26 years, has taken the lead in implementing ReverseSoft. " 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. With the implementation of ReverseSoft and its easy-to-use interface we can continue focusing our experience and attention to fulfill our customers' needs.", said Anita Agarwal, Vice President, Sun West Mortgage.

About XL Dynamics India Private Limited

XL Dynamics is an enterprise software company focused on developing and delivering cutting-edge solutions for the US Mortgage Industry. Founded in 2003, XL Dynamics has its R&D Labs and support centre in Mumbai with over 150 dedicated professionals. The company's Mortgagesoft® OnLine and ReverseSoft® suite of products are designed by domain experts with a collective experience of over 100 years.

Nishant Tiwari, XL Dynamics India Pvt. Ltd., + 91 (022) 2778 2818 nishant.tiwari@xldynamics.com

Source: XL Dynamics India Pvt. Ltd. (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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