IndiSoft Enhances Collaborative Advocacy Platform to Support COVID-19 Forbearance and other Loss Mitigation Efforts
BALTIMORE, MARYLAND, USA, April 20, 2020 /EINPresswire.com/ -- BALTIMORE, April 20, 2020 – IndiSoft has launched The Homeowner Connect (THOC) to help servicers communicate effectively with borrowers who need loss mitigation help during the COVID-19 crisis. The platform brings HUD certified non-profit housing counselors and consumers together on one platform for servicers, and it can be implemented in a matter of hours.
IndiSoft upgraded the platform previously branded as Hope LoanPort (HLP), which terminated operations this past January. During its ten years of operation, HLP offered several programs driven by IndiSoft’s technology including Make Home Affordable (MMA), Hardest Hit Funds (HHF), The Home Affordable Modification Program (HAMP), The Emergency Home Loan Program (EHLP) and the National Mortgage Settlement (NMS).
The platform now features the integration of IndiSoft’s HUD-certified CMS. THOC helps servicers collect the necessary information to convert COVID-19 forbearance to loan modifications, short sales and other loss mitigation options.
With rising unemployment rates due to COVID-19, there has been a steep uptick in calls to servicers. This has led servicers and housing advocacy counselors to call for the collaborative portal again.
“Right now, COVID-19 forbearances are on a ‘scout’s honor’ basis,” said Sanjeev Dahiwadkar, founder of IndiSoft. “This means borrowers are calling their servicers saying they need assistance due to the loss of income or job caused by COVID-19. In 90 days, everyone will be scrambling to comply with the requirements for receiving mortgage assistance. The Homeowner Connect is an easy-to-use platform that allows homeowners and counselors to work from home, adhering to the stay-at-home orders.”
The Homeowner Connect platform features:
• Self-service options for borrowers, including recent updates to comply with the COVID-19 Emergency Forbearance Borrower Attestation Form
• A mobile application
• A dedicated URL for each servicer
• An on-demand phone/chat support from HUD-certified nonprofit counselors
• Automated tools for supplying critical data and documents
• White label option
According to IndiSoft data, all the top servicers have used the technology behind The Homeowner Connect during the last economic crisis through December 2019. This familiarity with the platform will improve the adoption process.
About IndiSoft LLC
IndiSoft LLC is a Software Development and Product company specializing in delivering collaborative technology solutions to a wide range of businesses in the financial services. RX Office Management Solution, its patented technology offering, has been adapted for numerous stakeholders in mortgage banking, law, insurance, consumer-facing applications and the housing advocacy sector. The company also offers regulatory compliance and vendor management solutions. More information can be found at www.indisoft.us or by contacting cam.melchiorre@indisoft.us.
IndiSoft upgraded the platform previously branded as Hope LoanPort (HLP), which terminated operations this past January. During its ten years of operation, HLP offered several programs driven by IndiSoft’s technology including Make Home Affordable (MMA), Hardest Hit Funds (HHF), The Home Affordable Modification Program (HAMP), The Emergency Home Loan Program (EHLP) and the National Mortgage Settlement (NMS).
The platform now features the integration of IndiSoft’s HUD-certified CMS. THOC helps servicers collect the necessary information to convert COVID-19 forbearance to loan modifications, short sales and other loss mitigation options.
With rising unemployment rates due to COVID-19, there has been a steep uptick in calls to servicers. This has led servicers and housing advocacy counselors to call for the collaborative portal again.
“Right now, COVID-19 forbearances are on a ‘scout’s honor’ basis,” said Sanjeev Dahiwadkar, founder of IndiSoft. “This means borrowers are calling their servicers saying they need assistance due to the loss of income or job caused by COVID-19. In 90 days, everyone will be scrambling to comply with the requirements for receiving mortgage assistance. The Homeowner Connect is an easy-to-use platform that allows homeowners and counselors to work from home, adhering to the stay-at-home orders.”
The Homeowner Connect platform features:
• Self-service options for borrowers, including recent updates to comply with the COVID-19 Emergency Forbearance Borrower Attestation Form
• A mobile application
• A dedicated URL for each servicer
• An on-demand phone/chat support from HUD-certified nonprofit counselors
• Automated tools for supplying critical data and documents
• White label option
According to IndiSoft data, all the top servicers have used the technology behind The Homeowner Connect during the last economic crisis through December 2019. This familiarity with the platform will improve the adoption process.
About IndiSoft LLC
IndiSoft LLC is a Software Development and Product company specializing in delivering collaborative technology solutions to a wide range of businesses in the financial services. RX Office Management Solution, its patented technology offering, has been adapted for numerous stakeholders in mortgage banking, law, insurance, consumer-facing applications and the housing advocacy sector. The company also offers regulatory compliance and vendor management solutions. More information can be found at www.indisoft.us or by contacting cam.melchiorre@indisoft.us.
Charlyne H. McWilliams
William Mills Agency
+1 301-933-5567
email us here
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