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VISIT US ONLINE @ DSNEWS.COM IN THE NEWS IndiSoft Launches RxOffice Compliance IndiSoft introduced a quality management platform for mortgage loan originators and servicers. RxOffice Compliance works to help originators lower operational and compliance costs while reducing the risk of credit losses. Through RxOffice Compliance, quality control, auditing, and underwriting personnel can maintain a secure, centralized rules library in a common spreadsheet format. As review projects are created, the controlling rule set, loan data, and supporting documentation are brought together in one desktop, allowing employees to complete reviews mandated by pre- and post-funding compliance processes. Additionally, RxOffice Compliance allows multiple parties to collaborate through an automated workflow engine, which routes tasks to appropriate users. "Regulatory compliance now makes all processes, in particular auditing and quality control tasks, extremely time sensitive, requiring mortgage bankers to work quickly while maintaining detailed records of all activities," said Sanjeev Dahiwadkar, president and CEO of IndiSoft. "Our technology has been extremely effective in helping the industry's loss mitigation and servicer auditing efforts, and we saw a great need as originators encounter increasing demands for enhanced quality management processing that do not interfere with the origination process." Columbia, Maryland-based IndiSoft is a technology development firm that focuses on systems for the financial services industry. STAT INSIGHT 325 REOs added to the housing supply in Baltimore, Maryland in Q3. Source: RealtyTrac Massachusetts rank: 28 90+ Day Delinquency Rate Foreclosure Rate september 2012 3.41% Unemployment Rate 2.56% 6.5% year ago 3.48% 2.41% 7.2% percent point change -2.2% 6.2% -9.7% Top County HaMpden CounTy 90+ Day Delinquency Rate Foreclosure Rate september 2012 5.42% 3.90% year ago 5.63% 3.27% percent point change -3.8% 19.2% Top Core-Based Statistical area piTTSfield, Ma 90+ Day Delinquency Rate Foreclosure Rate september 2012 3.91% 3.75% year ago 3.71% 3.69% percent point change 5.3% 1.6% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. "Foreclosure deeds declined for the fourth month in a row. That's another good sign," Warren Group CEO Timothy M. Warren Jr. said in a release. The number of auction announcements tracked by the Warren Group also decreased in September. Auction announcements declined 44.8 percent to 902 from 1,634 in September 2011. From January through September, 11,326 auctions have been announced, a 13.3 percent decline from 13,070 auctions during the same period in 2011, according to a release from the Warren Group. *The Warren Group erroneously reported 973 foreclosure petitions in September, and later revised its report. The Boston Globe reported the mistake Friday, November 9. STAT INSIGHT 393 REOs added to the inventory in Worcester, Massachusetts, in the third quarter. Source: RealtyTrac IN THE NEWS Foreclosure Petitions in Massachusetts Increase Foreclosure petitions were up in September for Massachusetts, according to a recent report. In September, a total of 1,420 petitions for foreclosure were brought to the courts, which is a 22 percent increase from September 2011. Year-to-date, 13,876 foreclosure petitions have been initiated, up 47.3 percent from the same period last year. The change from Q 3 2011 to Q 3 2012 also showed an increase, with 4,451 petitions filed in the third quarter, up 11 percent from the same quarter a year ago. September also showed a total of 510 foreclosure deeds in the state, a 32 percent drop from the 754 during the same month a year ago. In total, 6,486 foreclosure deeds were filed from January to September of this year, which is a 3.5 percent increase compared to the 6,265 deeds filed over the same period last year. Be confident that the industry is hearing your message. Advertise with DS News today. Call 214.525.6700 or visit DSNews.com. 109