IndiSoft Launches RxOffice Compliance for Mortgage Bankers

Solution gives mortgage originators greater control, improving compliance objectives, reducing costs

CHICAGO--(BUSINESS WIRE)--IndiSoft, a technology development firm that focuses on systems for the financial services industry, today introduced RxOffice^® Compliance for mortgage loan originators and servicers, a complete quality management platform that improves the efficiency and effectiveness of pre- and post-funding quality control, compliance and underwriting processes.

“Regulatory compliance now makes all processes, in particular auditing and quality control tasks, extremely time sensitive, requiring mortgage bankers to work quickly while maintaining detailed records of all activities”

RxOffice Compliance enables originators to decrease operational costs and compliance expenditures while dramatically reducing the risk of credit losses. The system enables quality control, auditing and underwriting personnel to maintain a secure, centralized rules library housed in a common spreadsheet format. As review projects are created, the system brings together the controlling rule set, the loan data and the supporting documentation in one desktop, enabling employees to efficiently complete the comprehensive reviews required by pre- and post-funding compliance processes.

Additionally, RxOffice Compliance allows multiple parties, including outside counsel and processing vendors, to collaborate effectively through an automated workflow engine, which automatically routes tasks to appropriate users, recording all interactions and providing real-time reports to track progress.

“Regulatory compliance now makes all processes, in particular auditing and quality control tasks, extremely time sensitive, requiring mortgage bankers to work quickly while maintaining detailed records of all activities,” said Sanjeev Dahiwadkar, president and CEO of IndiSoft. “Our technology has been extremely effective in helping the industry’s loss mitigation and servicer auditing efforts, and we saw a great need as originators encounter increasing demands for enhanced quality management processing that do not interfere with the origination process. RxOffice Compliance enables them to meet regulatory compliance and enhance loan performance and execution by accurately evaluating potential borrowers at the onset and efficiently fulfilling required post-closing analysis of each loan.”

About IndiSoft LLC

Columbia, Md.-based IndiSoft LLC develops, licenses and supports a wide range of SaaS solutions for the financial services industry, including MortgageRx, RxOffice Compliance, RxOffice Legal and RxOffice Reporting Portal. IndiSoft is transforming how disparate parties communicate and exchange information. The RxOffice® platform (patent pending) offers audit, compliance and workflow technology and the infrastructure to enable transparency, accountability and real-time communication to accelerate decision making processes by multiple stakeholders. IndiSoft was selected as one of the Top 50 Service Providers of 2012 by Mortgage Technology magazine, and was honored in the Inc. 500|5000 listing of fastest growing private companies in the U.S. three years in a row. For more information about IndiSoft, visit its website at www.indisoft.us.