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IndiSoft has updated its RxOffice Compliance product line to include the new TILA-RESPA Integrated Disclosure (TRID) rules, which are scheduled to go into effect Oct. 3rd.
“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.”