Market Analysis: A Real Foreclosure Fix

February 3, 2012

The government has and will again come into our space with programs to avert foreclosures. I would assert that some foreclosure will and have to happen regardless of the government’s good intentions. Instead of pushing plans on servicers, the real foreclosure fix is to empower servicers to work with these borrowers in a more meaningful way so workouts last and foreclosures that are inevitable happen and clear the way for faster recovery. How do you do this? For example, PROGRESS in Lending has learned that IndiSoft has released enhancement to its RxOffice Premium Counselor Edition. The enhanced version of the company’s module gives counseling agencies a tool to better manage internal business operations including various kinds of counseling offered and the day-to-day activities at the agency. The module also features the ability to electronically post data to the HUD Housing Counselor System. Here’s the scoop:

The surge in the number of homeowners needing counseling to make informed housing decisions has increased exponentially during the last two years. RxOffice Premium Counselor Edition can be used by any HUD-approved agency participating in HUD’s Housing Counseling Program. These agencies are required to use a client management system to track their counseling activities and any information or data provided. By using the RxOffice module, agencies have an automated means of collecting, storing and transmitting HUD required information.

“Timely reporting to HUD in their specific format is an essential part of a counseling agency’s day-to-day process,” said Sanjeev Dahiwadkar, CEO of IndiSoft. “RxOffice Premium Counselor Edition takes this time-intensive process and give agencies the tool they need to quickly and efficiently manage the unprecedented number of consumers who need assistance.”

RxOffice Premium Counselor Edition is a web-based case management tool that is highly scalable and flexible. The module features a secured, proprietary messaging system to send to and receive messages from other users and can be integrated with email software to auto-file inbound/outbound emails with associated cases.

In my view we need more technology and less one-size-fits-all government plans to get us back on the road to prosperity.