IndiSoft, a software development and product company based in Columbia, Md., has integrated Freddie Mac’s HomeCoach mortgage-readiness assessment tool for HUD-approved housing counselors (HCAs) into HomePrep, its collaborative technology solution for the preservation and expansion of sustainable homeownership.
Integrating HomeCoach into HomePrep offers another tool within IndiSoft’s product strategy for HCAs to provide prospective mortgage loan borrowers with housing counseling services and homebuyer education.
Matthew Thomas, a HUD-approved housing counselor for the National Foundation for Debt Management, n HUD intermediary, is using HomeCoach on a daily basis to supplement his efforts to assess and improve clients’ mortgage readiness.
“When I leverage HomeCoach and the other fully integrated tools residing in IndiSoft’s HUD-certified client management system, RxOffice CMS and the HomePrep module, I’m able to provide excellent counseling services for clients and their lenders in the most efficient manner with the highest level of client satisfaction and compliance with HUD regulations,” says Thomas.
IndiSoft’s HomePrep multi-stakeholder technology solution supports seamless, secure and efficient collaboration among mortgage loan originators, GSEs, HCAs and prospective borrowers to optimize an underutilized stakeholder in the residential mortgage business, community-based HCAs.
Daniel Hughes, CEO of Bayport Lending in Punta Gorda, Fla., finds working with HCAs a new, exciting and productive origination channel that assesses and prepares prospective borrowers for sustainable homeownership and increases awareness of the growing number of affordable programs entering the market.
“The mortgage origination sector has not fully appreciated how helpful community-based HCAs are in educating and generating qualified borrowers who are truly ready to become homeowners,” says Hughes. “Now that IndiSoft’s HomePrep connects originators with HCAs on one platform, the proposition to fully integrate HCAs into the residential mortgage origination process is achievable.”
Freddie Mac has demonstrated its commitment to expand affordable mortgage lending, reduce the equity gap and reach the socially disadvantaged, those with low-to-moderate income and persons in underserved markets, through HomeCoach’s bi-directional interface with IndiSoft technology that supports lenders, HCAs and consumers.
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