COLUMBIA, MD., Sept. 22, 2015 IndiSoft, a compliance technology based firm that specializes in compliance products for the financial services industry, has updated its RxOffice® Compliance product to include the new TILA-RESPA Integrated Disclosure (TRID) rules, which are scheduled to go into effect Oct. 3rd of this year.
"TRID rules are complex and affect all of the financial loan institutions’ – both originators and servicers – federal and state compliance tests; RxOffice® allows users to ensure their processes are compliant," said Andrew F. Campbell, counsel with Ober|Kaler. "Once the loans are run through the system, lenders or the servicers can immediately know if they are compliant or not and they can also know what they need to do to fix it so that they can be compliant."
IndiSoft partnered with Ober|Kaler earlier this year to provide guidance and assistance to IndiSoft in enhancing two of its compliance modules, RxOffice® Vendor Management Portal and RxOffice® Compliance Portal, on all the current regulatory compliances.
"The industry is in a constant flux when it comes to regulations," said Sanjeev Dahiwadkar, IndiSoft CEO and president. "Our platform and specifically our compliance modules make it easier for users and the executive management to keep up with the current compliance mix of its portfolio and help them in making right decisions. This gives them peace of mind and saves them the time, money and effort of trying to decipher complex regulations on their own."
About IndiSoft LLC
Columbia, Md.-based IndiSoft LLC is a global company that develops collaborative technology solutions for the financial services industry. Through various portals, IndiSoft’s RxOffice® platform (patent pending) enables disparate parties to communicate and transact online in real-time. The transparent workflow technology improves the efficiency of business processes and offers audit, compliance and quality control capabilities to accelerate decision making and support business excellence. IndiSoft was named to the Inc. 500|5000 listing of the fastest growing private companies in the U.S. for four consecutive years and was selected as one of the Top 50 Service Providers by Mortgage Technology magazine in 2011, 2012, 2013 and 2014. For more information about IndiSoft visit its Web site at www.indisoft.us.