WASHINGTON, November 06, 2019. Last month, the HLP board of directors made the decision to close its operations, effective on December 31. HLP will permanently stop providing all services and any agreements HLP has with servicers or other organizations will end on this date.
- What is happening to HLP?
HLP is ceasing operations effective December 31, 2019.
HLP was created in the midst of the mortgage crisis to serve the critical need of connecting homeowners with servicers in order to avoid foreclosures. And we fulfilled that need. Over the past 11 years, our collaboration platform has assisted more than 750,000 families to achieve and sustain homeownership.
But times have changed. The economy is growing and unemployment is at a 50-year low, leading to the return of historically low rates of mortgage delinquencies. In addition, the mortgage industry has adopted and implemented technology similar to HLP’s and is meeting the needs of its customers on their own. As a result, activity and revenues from mortgage servicers have dropped dramatically during the past four years. As the board of directors looked ahead, it was clear that there was no longer a need for a utility like HLP.
- What happens to homeowner requests for mortgage assistance that are still being reviewed on December 31?
Requests that are still in process as of December 31 will be moved by the Servicer out of the HLP platform. Future communications and decisions about these requests will be handled directly between the Servicer & Homeowner.
- Who should I contact after December 31 if I still have questions or issues related to the HLP platform?
Though HLP will be ceasing operations after December 31, we will be working in January to complete final closeout items. Please contact Mark Cole, the President & CEO of HLP, at Mark.Cole@hlp.org.