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Home > Corporate > News and Events > Headlines 2010

QSSI Announces Award of the Home Equity Conversion Mortgage (HECM) Contract

Columbia, MD —January 4, 2010 –Maryland-based Quality Software Services, Inc (QSSI) was awarded a prime contract with the Housing and Urban Development (HUD) to develop a cost effective web-based service to support the Federal Housing Administration’s (FHA) Home Equity Conversion Mortgage (HECM) program.

QSSI is providing a solution to support FHA’s reverse mortgage processes to meet the growing demand for HECM loans, ensure compliance with federal legislation, address audit weaknesses, and to ultimately improve the monitoring and oversight over every stage of the loan lifecycle. The new system will help ensure FHA accurately maintains all active and historical loan records such as loan and borrower characteristics, loan balances, and case status, as well as provide HUD management with ready access to data for financial, budgetary and reporting requirements. As a Service Provider (SP), support for this Reverse Mortgage and Services modernization project spans requirements and program management, system development, reengineering process definition, system hosting, and a customer call center.

“This procurement represents a significant step forward for HUD and for the reverse mortgage industry in general and as such holds tremendous value for QSSI. We have a dedicated and knowledgeable team assembled to meet the needs of this mission critical program,” said Bikram Bakshi, President & CEO, QSSI.

About QSSI

Founded in 1997, QSSI is a rapidly growing firm with a broad set of information technology solution offerings. A SEI CMMI® Maturity Level 3 rated firm, QSSI focuses on enterprise software development, security Services and critical IT infrastructure solutions as core competencies. QSSI has successfully performed on over 200 federal contracts in the civilian market and has over 300 IT professionals. For more information about QSSI, please visit www.qssinc.com.

For additional information, please contact:

Alex Cina
Executive Vice President
301-977-7884, ext 204
acina@qssinc.com