DSNews The homepage of the servicing industry
""IndiSoft, LLC"":http://www.indisoft.us, a Columbia, Maryland-based technology developer focusing its efforts on the default service management industry, has enhanced its RxOffice platform[IMAGE]
to meet the new Home Affordable Modification Program (HAMP) request and income documentation requirements announced by the Treasury.
Beginning June 1, HAMP servicers will be required to verify a borrower's income and gather all the necessary paperwork prior to initiating a trial mod period. Officials say this change will speed the pace of permanent mod conversions.
IndiSoft's RxOffice now supports and enforces the standard HAMP Trial Plan Request documentation requirements as set forth by the new directive.
""We ensure that all of the RxOffice portals meet the up-to-date requirements set by government agencies as well as Fannie Mae and Freddie Mac,"" said Sanjeev Dahiwadkar, president and CEO of IndiSoft. ""As we provide the default service management industry reliable technology, we are enabling our clients to improve their process and turn-times, which correlates to improved outcomes for all parties involved.""
IndiSoft explained that using its document generation capabilities, RxOffice automatically generates a completed Request for Modification and Affidavit (RMA) form, required for HAMP consideration, based on the information from the homeowner and/or counselor. RxOffice also supports the streamlined income documentation requirements under these new program changes by applying them to specific loan and financial hardship situations.
""RxOffice has automated every aspect of the default servicing management process so that all parties can communicate and have timely information,"" Dahiwadkar said. ""In fact, our platform continues to support detailed information collection that exceeds the HAMP minimum requirements in a flexible, multi-format data exchange.""
