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HOPE NOW Expands HOPE LoanPort.pdf

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									HOPE NOW Expands HOPE LoanPort
02/26/2010 By: Brittany Dunn
As part of a coordinated plan to help as many homeowners as possible prevent foreclosure and stay in




their homes, HOPE NOW, an industry-created alliance of mortgage servicers, investors, counselors,
and other mortgage market participants, recently announced that it has expanded the HOPE LoanPort
through its housing counselor partners in 25 states and more than 100 cities.
HOPE LoanPort gives HUD-approved counselors the ability to submit completed Home Affordable
Modification Program (HAMP) applications directly to a homeowner’s servicer, and the Web portal
allows counselors to track the status of the application in order to provide borrowers with more timely
decisions.
As part of this expansion, Home Free USA has signed 32 affiliates, and NeighborWorks America has
participation
commitments from five of its affiliates. In addition, Consumer Credit Counseling Services (CCCS) of
Atlanta, with 30 offices in four states in the Southeast, and CCCS of Dallas, wish 21 offices in three
states in the Southwest, will also participate in helping homeowners through the HOPE LoanPort.
“The increase in Home Free USA and NeighborWorks America affiliates as well as CCCS of Atlanta
and CCCS of Dallas signing on to HOPE LoanPort speaks volumes to the success of this important tool
in helping housing counselors better assist people in danger of losing their home,” said Faith Schwartz,
executive director of HOPE NOW.
The HOPE LoanPort program began in December 2009 in nine key markets with HOPE NOW’s
housing counselor partners. The alliance expects continued growth in the number of HUD-approved
housing counseling agencies participating in its Web portal, and it also anticipates an increase in
servicer involvement. In fact, HOPE NOW said its program is currently being tested by several banks.
“We have received very positive feedback from servicers and counselors,” said Sanjeev Dahiwadkar
CEO and founder of IndiSoft LLC, technology provider to the HOPE LoanPort. “We are hearing that
HOPE LoanPort eases the traffic jams that in the past tied up the system, most specifically getting
documents in a piecemeal way or not at all. This translates into easier, faster decisions which reduces
borrower frustration and gets them what they need — help.”

								
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