Reverse Mortgage Loan Blog

Flagship Product Supports Popular Reverse Mortgage Loans 

TSS Software Corporation (TSS), the nation’s largest independent software provider dedicated exclusively to the settlement services industry, reports a significant increase in title companies using their flagship title and settlement system, TitleExpress, to process reverse mortgage settlements.

According to HUD, the number of federally backed reverse mortgages surged 41% last year from the previous fiscal year. TitleExpress fully integrates the title and settlement processes, and includes four key benefits for users processing reverse mortgages:

– Event Tracking - Customize events to be completed specifically for reverse mortgage transactions.

– Title Commitment - Add an additional insured by using a code already in the software.

– Specific Naming Capabilities - Differentiate who gets the funding and who gets the policy.

– Track Recording - Track recording for two mortgages in order to do policies in one file.
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“Over 50% of our business is reverse mortgage loans,” said Christine Tartaglia-Williamson, owner of South Jersey Settlement Agency. “The TitleExpress software is very user-friendly in creating a timely, efficient closing transaction. Since reverse mortgages are unique as far as the coverage amount and loan amount, it’s important we work within a program that can cater to this type of loan.”

“TitleExpress has the reverse mortgage workflow, verbiage, and forms in place to specifically track such activity better and produce policies without imposing additional work on processors,” said Donna Anderson, TSS Software Consultant.

The TitleExpress software suite includes five interrelated products, all of which allow users to easily move data between applications for highly efficient workflows. TitleExpress is underwriter neutral and underwriter friendly. Automatic premium calculations, commitment and policy production, HUD creation, and a comprehensive document library make loan-closing tasks simple and efficient.

About TSS Software Corporation

TSS Software Corporation is America’s leading independently owned provider of software and services for real estate title, settlement, and abstracting companies. Their flagship product, TitleExpress, is the mission-critical software system selected by over 16,000 users in a nationwide array of title and settlement companies. For more information, go to www.iwanttss.com, or call 888-268-0422.

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