""Wingspan Portfolio Advisors, LLC"":http://www.wingspanportfolioadvisors.com, a Dallas-based specialty and component mortgage servicer focusing on highly delinquent loans, is expanding its partnership with ""IndiSoft"":http://www.indisoft.us, a Maryland-based technology development firm that focuses on systems for the default services industry.[IMAGE]
According to a statement from IndiSoft, Wingspan will use additional portals from the company's RxOffice suite to explore foreclosure alternatives, such as short sales, for homeowners who do not qualify for loan modifications or are unable to retain their homes.
""Today, managing short sales is a very important step in addressing the issues surrounding the growing number of borrowers looking for a way to sell their homes instead of[COLUMN_BREAK]
going through foreclosure,"" said Karun Khanna, COO of IndiSoft. ""IndiSoft's technology enables companies to help struggling homeowners make a graceful exit from their current mortgage commitment and sustain far less damage to their credit ratings.""
Khanna continued, ""Designed to support the entire default life cycle, from loan retention to loan disposition, our technology is helping companies such as Wingspan improve efficiencies and succeed through this challenging time.""
Wingspan's clients include servicers, investors, and mortgage insurance companies. According to the company, IndiSoft's technology is a valuable solution to improve efficiency.
""RxOffice has proven to be a highly effective platform in our efforts to expedite transactions and fine tune our loss mitigation capabilities,"" said Steven Horne, founder and president of Wingspan Portfolio Advisors. ""This outstanding solution helps us accelerate short sale transactions to benefit distressed sellers, new buyers, and servicers alike in addition to reducing the number of REO properties in the national housing inventory.""
Horne added, ""IndiSoft's technology touches every part of the default process, allowing us to meet the rapidly growing needs of the mortgage industry and empower lenders to recover value in nonperforming loans.""