*Stay Ahead Of The Compliance Curve*
**By Tony Garritano**
***Who likes lawyers? Nobody really. Chances are, if you’re engaged with a lawyer, you’re in some kind of trouble. However, with all the new rules and regs that this industry faces, lawyers aren’t always the enemy. What I mean is that given the constantly changing regulatory landscape, even the most vigilant lenders and servicers are challenged to keep up, much less ensure that their business processes are compliant. As a result, technology companies like IndiSoft, developer of the RxOffice Compliance product, has engaged the law firm of K and L Gates to help stay informed about regulatory changes that may affect platform users.
****RxOffice Compliance, which enables quality control, auditing and underwriting personnel to maintain a secure, centralized rules library housed in a common spreadsheet format, also allows collaborative workflow across a variety of constituencies, including risk management personnel and outside counsel. As a result, as the rules change, the lender’s policy makers may rapidly adjust business processes with full visibility into the operational results.
****“It is vital for lenders to remain compliant with the growing number of regulations,” said Sanjeev Dahiwadkar, CEO of IndiSoft. “Although this module enables our clients to efficiently and effectively manage their quality control and compliance efforts, we knew it was also important to do what we can to help them with the challenge of maintaining awareness of the constantly changing regulatory landscape. By subscribing to K&L’s standard regulatory update service, we aim to help our clients by alerting them to changes so they may take necessary steps to ensure they are compliant with current and future regulations. Our clients are encouraged to work directly with the service providers to manage their individual needs.”
****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.
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.