IndiSoft Launches Tool to Support With Forbearance Efforts
IndiSoft has launched The Homeowner Connect (THOC) to help servicers communicate effectively with borrowers who need loss mitigation help during the COVID-19 pandemic. The platform brings HUD-certified, non-profit housing counselors and consumers together on one platform for servicers.
IndiSoft upgraded the platform previously branded as Hope LoanPort (HLP), which terminated operations this past January. During its 10 years of operation, HLP offered several programs driven by IndiSoft’s technology including Make Home Affordable (MMA), Hardest Hit Funds (HHF), The Home Affordable Modification Program (HAMP), The Emergency Home Loan Program (EHLP) and the National Mortgage Settlement (NMS).
The platform now features the integration of IndiSoft’s HUD-certified case management system (CMS). THOC helps servicers collect the necessary information to convert COVID-19 forbearance to loan modifications, short sales and other loss mitigation options.
“Right now, COVID-19 forbearances are on a ‘scout’s honor’ basis,” said Sanjeev Dahiwadkar, founder of IndiSoft. “This means borrowers are calling their servicers saying they need assistance due to the loss of income or job caused by COVID-19. In 90 days, everyone will be scrambling to comply with the requirements for receiving mortgage assistance. The Homeowner Connect is an easy-to-use platform that allows homeowners and counselors to work from home, adhering to the stay-at-home orders.”