A reverse mortgage is based on many factors, and depending on these factors, the loan officer should determine one of the scenarios for the prospect.
Web Platform for Reverse Mortgage Calculation
Darling Financial Services is a company that specializes in providing financial services. Their board includes loan officers who assist prospects in calculating reverse mortgages.
Country:
USA
Industries:
Finance Management
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The Challenge
Before coming to us, the client used an Excel spreadsheets with a reverse mortgage calculator that processed a lot of data. Updating this data required considerable effort, so the client wanted to optimize this process by creating a web platform with a calculation system. This platform would reduce the manual work of loan officers and, by entering the minimum amount of data, produce the most accurate and correct results.
The solution
The application is a Reverse Mortgage Pre-Qualification Engine. It is a web platform where the user enters data (age, credit history, state, etc.), and the system calculates the reverse mortgage according to predefined scenarios automatically selected by the system.
Clover Dynamics developed a unique calculation engine, leveraging our expertise in Custom Software Development and ensuring operational efficiency. The uniqueness is demonstrated by the tailored data processing according to the input data, with all calculations based on advanced formulas. This solution exemplifies our commitment to providing a competitive edge and addressing the technical resource gap.
The calculation results provide detailed graphs and numerical data, such as increased funds, line of credit, and monthly payments based on years from the reverse mortgage. Additionally, the platform offers other graphical representations of how the payments will occur, ensuring comprehensive and transparent insights for users. By integrating our AgilePulse™ methodology and strong data protection measures, we ensure that the system is both adaptive and secure.
Our interdisciplinary team, guided by dedicated project management and continuous CTO oversight, collaborated closely to deliver a relationship-centric and scalable solution.
The features
AI-Calculation Engine
Graph Generation
Integration with Quantum Reverse
Scenario-Based Calculations
Automated PDF Generation and Email Delivery
The result
- 01
Enabled efficient and accurate reverse mortgage calculation services for prospects, significantly improving client interactions and satisfaction
- 02
Minimized the manual workload for loan officers, allowing them to focus on higher-value tasks and enhancing overall productivity.
- 03
Streamlined the data processing and calculation workflows, leading to a more efficient operation and quicker turnaround times for reverse mortgage calculations.
- 04
Leveraged advanced algorithms and quality control measures to ensure precise and reliable mortgage calculations, reducing errors and increasing trust in the service.
Full case study
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