To help mortgage servicers comply with new Consumer Financial Protection Bureau (CFPB) regulations, IndiSoft is partnering with Hope LoanPort (HLP) to facilitate seamless handoff of servicing transfers between two participating servicers.
With IndiSoft's technology, HLP's servicer portal now automatically facilitates compliance with CFPB Bulletin 2013-01, ‘Mortgage Servicing Transfers,’ which mandates that servicers establish policies and procedures to bring greater transparency to transitions. Now, registered servicers can electronically transfer existing cases to other registered servicers without losing any portal data or documentation. The portal also ensures compliance with new requirements for document feedback and provides servicers with access to updated reports.
In addition, HLP has added features to its portal to assist servicers in processing applications through the recently launched Making Home Affordable Outreach and Intake Project. Specifically, IndiSoft and HLP ensured the portal included all associated case statuses and workflow prior to the project's launch.