Arizona and Mississippi Authorizations Join its Roster
- Indecomm expands regulatory footprint
- Indecomm licensed or exempted in 40 states
- Arizona and Mississippi now added to list of registrations
EDISON, NJ (January 7, 2014)—Indecomm Global Services, a leader in business process outsourcing, learning, and technology solutions, announces that it has expanded its mortgage licensing to 40 states with the addition of Arizona and Mississippi. In these states Indecomm has been granted a mortgage broker or lender license, or state exemption as a third party support services provider. Indecomm’s continued investment in licensing expands the company’s geographic market and positions it for continued growth and leadership in the mortgage industry.
“We now have licenses in the majority of the United States, removing a regulatory constraint to growth and enabling us to serve our clients across a broad cross-section of the mortgage industry,” said Rajan Nair, President, Financial Services Division, Indecomm Global Services. “Because of the breadth of our compliance footprint, our partners can have confidence in our ability to effect transactions across diverse jurisdictions.”
These authorizations are required to satisfy the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act), within each state that Indecomm does business. Indecomm does not originate, broker, service, or fund loans but it does provide processing, underwriting, and origination support which causes it to be subject to the rules of the jurisdictions. This obliges Indecomm to obtain a license or an exemption in these states.
“Since the passage of the S.A.F.E. Act, many regulators have become much stricter with licensing,” said Rebecca Warfel, Corporate Licensing Specialist, Indecomm Global Services. “Within the last few years certain states have begun requiring processors and underwriters to have a license whereas before it was primarily originators that had to be licensed.”
Application requirements are also more stringent and may require more extensive documentation as well as stricter background checks on a wider array of individuals,” Warfel explained. “If one does not carefully research the regulations as Indecomm does, a company like Indecomm might say ‘we don’t broker, originate, or fund any loans and thus don’t need a license.’ But the states differ in how they treat business activities and often do require a broker’s license or a lending license. At Indecomm, we take this process very seriously to ensure that we are fully compliant in all our S.A.F.E. Act licensing.”
“The process is lengthy but worthwhile,” Nair said. “We anticipate more submissions in the near future as we add to our regulatory asset base.” For more information, visit the NMLS Consumer Access website at http://www.nmlsconsumeraccess.org and enter Indecomm Holdings in the search field. Licensing information can also be found on the Indecomm website, http://www.indecomm.net/Licenses.html
About Indecomm Global Services
Indecomm offers consulting, outsourcing, learning, and technology solutions to our clients in the financial services, hi-tech, life sciences, education, and publishing verticals. We combine technology platform-driven outsourcing solutions with a flexible delivery model. Indecomm helps its customers improve profitability, gain time-to-market advantage, and achieve immediate return-on-investment.
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 U is a close collaboration between Indecomm’s mortgage lending solutions and Indecomm’s learning solutions. Indecomm – Mortgage U’s Health Check enables companies to ensure compliance with current regulations and anticipate the impact of new ones.
Indecomm Technology is an acknowledged leader in the field of collaborative product engineering. It has worked with over 100 independent software vendors and next-generation technology firms. Indecomm Technology’s suite supports mobile, SaaS/cloud, big data, and test automation. Indecomm’s advanced AutomationNG allows the definition of automation scripts using high level natural language and Indecomm’s unique Extended Delivery Center framework.
The Indecomm Learning Group has partnered with enterprises across the globe to design, develop, and implement over 30,000 hours of learning content. Our solutions include web-based learning, instructor-led learning, mobile-based learning, blended solutions, content migration, and localization. We have developed a suite of proprietary workflows and widgets advancing Microsoft technologies.
With over 3,500 associates worldwide, Indecomm services its customers from global delivery centers and offices in the United States, Singapore, Malaysia, 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.
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Indecomm Global Services