News Releases - Current Year
| 2013 | Title | |
| March 25, 2013 | Indecomm Global Services Grows State License Approvals
Company Adds California and Maryland Authorizations to its Roster Edison, NJ (March 25, 2013)—Indecomm Global Services, a leading business process outsourcing company, is expanding the number of states in which it is licensed. Being licensed ensures that Indecomm’s lender support services meet all regulatory requirements. The company’s licensing efforts represent a major investment and commitment by Indecomm in the continued expansion of its mortgage service offerings. With the passage of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act), licensing requirements became standardized for all mortgage companies that originate, broker, service, or fund loans. The S.A.F.E. Act requires residential mortgage loan originators to be registered with the Nationwide Mortgage Licensing System and Registry (NMLS). The NMLS is used by many state-licensed, non-depository mortgage companies, banks and credit union institutions as well as individuals to manage their state or federal registrations. The rules can be complex and each state can have its own unique requirements. While Indecomm does not originate, broker, service, or fund loans, the company does provide mortgage companies with processing, underwriting, and origination support. Thus, it is required to meet the rules of each state in which it conducts business or be exempted from the requirements. “Getting licensed is about developing the human capital in our firm so that we can better serve our customers,” said Rajan Nair, President, Financial Services Division, Indecomm Global Services. “The mortgage industry is more complicated than it was in the past and the licenses are harder to get. There are many nuances associated with the process of securing a license and we consider our prolific number of licenses and exemptions to be a distinct competitive advantage. Securing a license for a state is merely the first step. The process is ongoing. The license has to be maintained and renewed annually which is often an extensive process.” One major complexity behind the licensing process is how states view business activities that are outside originating, brokering, servicing, or funding loans as is the case with Indecomm’s business model. Some states may determine that Indecomm qualifies for an exempt business model registration. Others may require Indecomm to be licensed as a mortgage lender or a broker due to the activities of its processors and underwriters. Indecomm is now helping its individual processors and underwriters become licensed in states that require it. Currently Indecomm holds licenses in 32 states under the S.A.F.E. Act and active efforts are in place to get the number of licenses or exemptions to 45 by the end of 2013. For more information, visit the NMLS Consumer Access website at http://www.nmlsconsumeraccess.org and enter Indecomm Holdings in the search field. About Indecomm Global Services Indecomm’s title and settlement services platform-based solutions include title search and typing through iTitleHub™, post-closing through Dynamic Doc Hub™, eRecording through InteleDoc Direct™ and mail away recording supported by our recording website. Indecomm Mortgage Mentor (iMM) is a close collaboration between Indecomm’s mortgage lending solutions’ deep mortgage expertise and Indecomm’s learning solutions. With nearly 4,000 associates worldwide, Indecomm services its customers from global delivery centers and offices in the United States, Singapore, Malaysia, Thailand, the United Kingdom, and India. For more information, visit www.indecomm.net Indecomm is funded by leading global venture capital funds, including WestBridge Capital Partners, Tiger Global Management Private Equity, and the International Finance Corporation, a member of the World Bank Group. Contact: 
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| March 21, 2013 | Indecomm Global Services Launches New Foreclosure Assignment Services Solutions
End-to-end Solution Streamlines Processe s for Assignments in Foreclosure St. Paul, MN (March 21, 2013)—Indecomm Global Services, a leading business process outsourcing company, is launching a new Foreclosure Assignment Services Solution. This new end-to-end solution encompasses the creation,execution, recording, and tracking of foreclosure assignments as well as the verification of the title on the property. The solution enables lenders and servicers to adhere to timelines contained in the new Consumer Financial Protection Bureau (CFPB) guidelines for foreclosures. These CFPB guidelines, announced on January 17, 2013, reinforce the requirements put in place by the Federal Housing Finance Agency (FHFA) in September of 2011 on all GSE loans going into default. "The CFPB fundamentally altered the lender/borrower relationship and created a new set of rigid rules for lenders to follow," said Pat Taylor, Vice President, Servicing Solutions Group, Indecomm Global Services. As of October 1, 2011, servicers were required to refer the loans for foreclosure by the 120th day of delinquency as long as any applicable notice and waiting period under state law was met and all loan modification options had been exhausted. "Weak controls and difficult decisions by servicers including robo-signing of mortgage documents have created a heightened awareness of the importance of proper documentation,” said LathaParameswaran, Vice President, Document Management Group, Indecomm Global Services. “Our new Foreclosure Assignment Services Solution provides lenders and servicers with a way to manage an increasingly critical process. It allows them to follow required foreclosure timelines while adjusting to a fluctuating volume. Having the right controls in place, especially those related to signers and notaries, is a significant business advantage for lenders and servicers in this highly regulated mortgage environment." Indecomm has a long record in assignments and recording. It records over a million documents annually across 3,600 jurisdictions and has prepared over a half a million assignments to date working with the top lenders and servicers. Indecomm utilizes MERS-certified officers to support in-house execution for MERS loans. Signers are part of the internal corporate resolution and are trained to perform signing and notarial services. Indecomm provides remote print capability for non-MERS loans, executed by the lender or servicer. Indecomm also adheres to notary best practices and guidelines as well as offering continuous training for its officers and notaries. The assignment solution workflow begins with the loan referral file and continues to the assignment creation and recording stage. The title search functions are performed by licensed providers who are Indecomm partners in the process. Indecomm creates the assignment and performs rigorous quality control. Finally it executes, records, and returns the document to the servicer with 97% accuracy. "Indecomm provides rapid scalability and applies a real time database of county rules and fees as well as reports for customers for mortgage recording," Parameswaran said. "With this new solution we offer our customers tracking and reporting of foreclosure documents." Indecomm’s proprietary platform InteleDoc Direct™ allows the submission and retrieval of documents to counties that offer eRecording. Indecomm’s recording website enables users to track, perform error management, and access reports for documents being recorded. Indecomm’s technology-driven platforms offer a real-time view into the critical stages of mortgage processing. About Indecomm Global Services Indecomm’s title and settlement services platform-based solutions include title search and typing through iTitleHub™, post-closing through Dynamic Doc Hub™, eRecording through InteleDoc Direct™, and mail away recording supported by our recording website. Indecomm Mortgage Mentor (iMM) is a close collaboration between Indecomm’s mortgage lending solutions’ deep mortgage expertise and Indecomm’s learning solutions. With nearly 4,000 associates worldwide, Indecomm services its customers from global delivery centers and offices in the United States, Singapore, Malaysia, Thailand, the United Kingdom, and India. For more information, visit www.indecomm.net Indecomm is funded by leading global venture capital funds, including WestBridge Capital Partners, Tiger Global Management Private Equity, and the International Finance Corporation, a member of the World Bank Group. Contact:
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| March 4, 2013 | Indecomm Global Services Appoints Michael Frotten, Director of Business Development
Sixteen-Year Veteran of Sales Management to Augment Indecomm's Focus on Outsourcing Solutions for Mortgage Lenders Iselin, NJ (March 4, 2013)—Indecomm Global Services, a leading business process outsourcing company, announced that Michael Frotten has been named Director of Business Development, Lending Solutions Group. In this role, Michael will focus on mid-tier lenders, community banks, and credit unions to tap into Indecomm's platform-driven mortgage outsourcing solutions. "Michael is an important addition to Indecomm's sales team," said Rajan Nair, President, Financial Services Division, Indecomm Global Services. "As a seasoned mortgage professional with an extensive history of working with lenders in the mortgage industry, he will help our clients leverage Indecomm's deep domain expertise and end-to-end fulfillment solutions to maximize their profits in this rapidly changing regulatory environment. Michael shows our commitment to bringing the best people and solutions to our clients." Prior to joining Indecomm, Michael served as President of Vidverify, a next generation video communications platform designed to help consumers understand complex financial transactions. In this role, he oversaw product development, marketing, sales, and business development strategies. Before that, Michael held positions in senior sales management at AmeriSave Mortgage Corporation and CitiMortgage Inc. Michael also spent 15 years at ABN AMRO/InterFirst in roles including National Sales Manager and Head of Business Development. Michael holds a BS in Business Management from the University of Phoenix, Orlando, Florida. He is an Accredited Mortgage Professional with the Mortgage Bankers Association. About Indecomm Global Services Indecomm's title and settlement services platform-based solutions include title search and typing through iTitleHub™, post-closing through Dynamic Doc Hub™, eRecording through InteleDoc Direct™ and mail away recording supported by our recording website. Indecomm Mortgage Mentor (iMM) is a close collaboration between Indecomm's mortgage lending solutions' deep mortgage expertise and Indecomm's learning solutions. With nearly 4,000 associates worldwide, Indecomm services its customers from global delivery centers and offices in the United States, Singapore, Malaysia, Thailand, the United Kingdom, and India. For more information, visit www.indecomm.net Indecomm is funded by leading global venture capital funds, including WestBridge Capital Partners, Tiger Global Management Private Equity, and the International Finance Corporation, a member of the World Bank Group. Contact:
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"Indecomm's service has been top notch and they are extremely dedicated to our account."
