Sun West Mortgage today announced the release of a new product that enables lenders capture new business which many did not realize they already had. The latest release of its flagship reverse mortgage software, ReverseSoft, features an intelligent Import-a-Loan Wizard that automatically and seamlessly converts a loan application taken on a conventional, non-reverse mortgage system into a reverse mortgage loan.
Ray Preciado, a seasoned mortgage professional, actively engaged in identifying and educating seniors, was among the first few to use the Wizard. Describing its significance, Preciado said, "ReverseSoft's Import-a-Loan has proven to be very valuable to us. As conventional mortgages are drying up, we have gone back to our old database of forward mortgages to find seniors who can benefit from a reverse mortgage. With ReverseSoft, we can import a Fannie Mae DU export file into ReverseSoft; and have a reverse mortgage loan ready to be processed in seconds."
"The Import-a-Loan Wizard is a significant advantage for new entrants in the reverse mortgage space as it dramatically reduces the learning curve in originating a reverse mortgage", said Pavan Agarwal, Vice President, Sun West Mortgage Company. "ReverseSoft's superior data architecture utilizes FNMA Desktop Underwriter (DU) standards and MISMO XML standards to achieve this edge. Additionally, this platform enables you to integrate with other vendor systems such as credit agencies, flood certificate agencies, and document preparation companies, giving you a truly integrated enterprise-wide solution."
As a part of its roadmap, Sun West has planned many more innovative features scheduled to be released in the coming weeks and months. These features are designed towards enabling mortgage companies expand their footprint in the reverse mortgage market place.
Sun West's partners have full access to ReverseSoft. They can originate loans, draw vendor services, and monitor their pipeline on a real-time basis, at no cost. To become a Sun West partner, mortgage correspondents can send in an email to email@example.com or call Anthony Toro on (800) 453 7884.
About Sun West Mortgage Company Inc.
Sun West Mortgage Company, Inc. is a FHA, VA, Freddie Mac, Fannie Mae, and Ginnie Mae approved full-service mortgage banker. It has recently been approved as a Ginnie Mae Issue, Servicer, and Master Servicer. Sun West has been servicing its nationwide client base since 1980. Its diversified loan programs include FHA and Jumbo Reverse Mortgages, FHA Single Family and Multi-Family, VA, Conventional, Jumbo, and Home Equity mortgages. Sun West is one of the few direct lenders to provide in-house underwriting, funding, and servicing for reverse mortgage products. Based in California and doing business nationally, Sun West is dedicated to offering exceptional customer service coupled with integrity, reliability, strength and stability.
ReverseSoft® is Sun West's flagship loan origination system for reverse mortgages. Built on 27 years of FHA lending and mortgage technology experience, it combines a high-speed underwriting engine based on a rich library of rules with the flexibility and scalability to integrate with third-party systems.
Learn more about:
Sun West Mortgage Company [NMLS ID 3277] at http://www.swmc.com
ReverseSoft Online at http://www.reversesoftonline.com
Reverse Mortgage Calculator at http://www.SimpleHECMCalculator.com
Phone: (800) 453-7884
Fax: (562) 924-6057