COLUMBIA, MD., Feb. 18, 2014 – IndiSoft, a technology development firm that specializes in systems for the financial services industry, has enhanced its RxOffice® Premium Counselor® portal to comply with Supplemental Directive 13-08 of the Making Home Affordable program. The directive goes into affect March 1, 2014 and requires servicers to provide post-modification counseling to homeowners at no cost. RxOffice® Premium Counselor allows servicers and their counseling agency partner to share loan information and communicate more effectively to help homeowners stay current in their modified loan payments.
"While the industry and the economy show signs of recovery and stabilization, Supplemental Directives such as 13-08 are put in place to make sure homeowners have the support they need to get back on track with their mortgages," said Sanjeev Dahiwadkar, CEO and president of IndiSoft. “Technology is the best way to ensure that counselors and servicers are collaborating on efforts for the homeowners based on the same information. Our proven platform provides the capability counselors and servicers need to ensure this effort is successful."
In addition, RxOffice® Premium Counselor fully integrates with Hope LoanPort (HLP) providing counselors with seamless connectivity to residential mortgage servicers. The RxOffice® / HLP interface completely eliminates redundant data entry and the need to toggle between systems so that counselors have unfettered transparency and continuity of communication with servicers.
“HomeFree-USA was an early adopter of the RxOffice® Premium Portal and is pleased to add this tool to our ability to track and improve borrowers’ performance,” said Marcia Griffin, HomeFree-USA president.
According to the Supplemental Directive, servicers must engage a HUD-approved financial counseling vendor to provide the required financial counseling services.
“Through RxOffice® Premium Portal, Alliance has successfully assisted thousands of homeowners,” said Kevin Porter, president of Alliance Credit Counseling, Inc. “IndiSoft’s great technical abilities and quick response to new initiatives like 13-08 make our mission easier to accomplish.”
Servicers must engage as many agencies as their need demands and are responsible for monitoring the performance of these counseling agencies to ensure they meet the requirements of the directive. RxOffice® Premium Portal has reporting capability to help with this process.
“IndiSoft technology will revolutionize the housing couseling industry by providing NCRC with RxOffice® Premium Counselor portal, which has the ability to track HAMP 13-08 post-modification client counseling for housing counseling agencies and servicers,” said David Berenbaum, NCRC’s chief program officer. “This feature will result in better client management and improved client outcomes for HAMP post-modification clients.”