COLUMBIA, MD., Oct.13, 2015 IndiSoft, a technology development firm that specializes in systems for the financial services industry, has teamed up with Chicago-based business consulting firm Navigant Consulting, Inc. to include Home Mortgage Disclosure Act (HMDA) reviews via its RxOffice® Compliance module. These enhancements will provide visibility and simplicity to users striving to remain compliant with HMDA regulations.
"The HMDA review will transform the way users manage their compliance issues," said Beji Varghese, a managing director at the valuation and financial risk management practice at Navigant. "The addition of the HMDA LAR module will allow users to quickly identify issues with their HMDA data and design solutions to remediate those identified issues."
In addition to supporting existing federal, state and investor regulations, Navigant and IndiSoft now offer technology to rapidly verify compliance to HMDA standards. These features include:
1. HMDA Data Verification : Support of blind entry of data enables input of data without any influence of existing information and allows comparison of data with LAR data.
2. Ability to consume Loan Application Register (LAR) data file. Ability to upload LAR data files in Excel format from the application, allowing users to see the comparison of blind entry and LAR data in one click. This will enable a clear identification of mismatched data points.
3. Support for various key reports related to HMDA quality control. The platform now supplies three distinct SSRS reports with one–click export capabilities. .
“Staying compliant has never been so simple with this innovative review process,” said Vinayak Kulkami of IndiSoft. “Our technology gives users the peace of mind they need to focus on day-to-day processes instead of whether they are compliant.”
About IndiSoft LLC
Columbia, Md.-based IndiSoft LLC is a global company that develops collaborative technology solutions for the financial services industry. Through various portals, IndiSoft’s RxOffice® platform (patent pending) enables disparate parties to communicate and transact online in real-time. The transparent workflow technology improves the efficiency of business processes and offers audit, compliance and quality control capabilities to accelerate decision making and support business excellence. For the fourth consecutive year, IndiSoft was named to the Inc. 500|5000 listing of the fastest growing private companies in the U.S. and was selected as one of the Top 50 Service Providers by Mortgage Technology magazine in 2011, 2012, 2013 and 2014. For more information about IndiSoft visit its Web site at www.indisoft.us.
About Navigant Consulting
Chicago based 4,000 person consulting company focused on Financial Services Compliance and Risk Management. For more information about Navigant conculting visit our Web Site at www.navigant.com.