Wingspan Portfolio Advisors Expands Partnership With IndiSoft
After using IndiSoft LLC services for 24 months, Wingspan Portfolio Advisors has expanded its partnership with the technology development firm addressing the needs of homeowners who do not qualify for loan modification or who are unable to retain their homes.
Wingspan Portfolio Advisors, a Dallas-based specialty and component mortgage servicer focusing on highly delinquent loans, was already using IndiSoft’s Loss Mitigation portal and now has added the RxOffice Realtor Portal to its company’s services.
The RxOffice Realtor Portal allows Realtors to work with homeowners to manage the short sale process by collecting hardship documents and listing and marketing the property. The service helps struggling homeowners escape from their current unaffordable mortgage commitment with minimal damage to have the ability to borrow in the future.
“Today, managing short sales is a very important step in addressing the issues surrounding the growing number of borrowers looking for a way to sell their homes instead of going through foreclosure,” said Karun Khanna, COO of Columbia, Md.-based IndiSoft.
“IndiSoft’s technology enables companies to help struggling homeowners make a graceful exit from their current mortgage commitment and sustain far less damage to their credit ratings.”
The RxOffice Realtor Portal, which includes case management, HAFA-compliant document preparations and workflow management, works in conjunction with the RxOffice Short Sale Vendor Portal used by Wingspan experts. Key components of the Short Sale solution include robust case management, compliant document preparations and the ability to configure workflow processes that support specific requirements of the servicer. All of these services help the homeowner, real estate agent and Wingspan put together a complete package for servicer approval.
By using additional RxOffice portals, Wingspan will continue to ensure reliability and efficiency for all parties involved in short sale transactions.
“RxOffice has proven to be a highly effective platform in our efforts to expedite transactions and fine tune our loss mitigation capabilities,” said Steven Horne, founder and president of Wingspan Portfolio Advisors.
“This outstanding solution helps us accelerate short sale transactions to benefit distressed sellers, new buyers and servicers alike, in addition to reducing the number of REO properties in the national housing inventory.”
Khanna said IndiSoft’s technology supports the entire default life cycle, from loan retention to loan disposition in order to transform how the industry communicates and exchanges information. The RxOffice platform features secured communications technology with the infrastructure to enable real-time communication to speed up the decision and execution of the client.
The mission for Wingspan Portfolio Advisors is to turn nonperforming loans into reperforming assets and prevent foreclosure by using alternative sourcing techniques with their clients, which include servicers, investors and mortgage insurance companies.
“IndiSoft’s technology touches every part of the default process, allowing us to meet the rapidly growing needs of the mortgage industry,” Horne said. “Their technology allows us to empower lenders to recover value in nonperforming loans.”