BALTIMORE, December 15, 2016 With the Home Affordable Modification Program (HAMP) ending at the end of December, HLP is making changes to its communications platform to continue handling loan modifications in 2017 and beyond.
Effective January 1, 2017, technical changes to HLP’s portal will enable HUD-approved nonprofit counseling agencies and consumers to submit requests for non-HAMP loan modifications and forward them to mortgage servicers for a decision.
Since its founding 2009, HLP has handled data and documents for more than 500,000 homeowners nationwide seeking a loan modification to avoid foreclosure. Formerly known as Hope LoanPort, HLP enables consumers and nonprofit housing counselors to submit electronic applications for loan modifications and all supporting documents – such as bank statements and tax returns -- through its platform. Once the mortgage company has accepted the application, the consumer and nonprofit housing counselor can track the application’s progress through HLP.
“Powered by IndiSoft’s RXOffice, HLP’s unique platform provides leading-edge connectivity for our major stakeholders, especially mortgage servicers and HUD-certified counseling agencies,” said Cam Melchiorre, HLP’s chief executive officer. “To accommodate everyone post-HAMP, we’ve made technical changes to our platform so homeowners can continue to seek help through proprietary programs offered by servicers and receive a quick response to their request.”
Once HAMP expires, many mortgage servicers are expected to continue offering proprietary loan modifications and fill the gaps left by HAMP. Regulations governing mortgage loans are one reason proprietary loan modifications will continue. For example, the Consumer Financial Protection Bureau requires that servicers contact delinquent borrowers within 36 days of their first missed payment to inform them that loss mitigation options may be available.”
In addition to its home retention options, HLP has expanded its communications platform in recent years and now offers a full cycle of services for the mortgage industry. For example, HLP provides the communications platform for Fannie Mae’s Mortgage Help Network borrower outreach program and Freddie Mac’s 13 Borrower Help Centers. It also provides case management systems for state government agencies and courts, enabling them to better track the performance of counseling agencies in their networks. Mortgage servicers can also use HLP to handle foreclosure mediation proceedings, storing all data on its platform.
HLP is also helping loan originators attract potential clients through the use of HLP.guru, a website app that helps consumers improve their credit score and qualify for a mortgage loan. NationStar, Ditech and Finance of America have agreed to provide HLP.guru to a select group of people declined for a mortgage loan in order to qualify.
About HLP: HLP is a unique collaborative created in 2009 that engages the key stakeholders who work with families on homeownership - nonprofit counselors, advocates, mortgage lenders, servicers and investors, attorneys and government agencies. Being a national, neutral, nonprofit organization allows us to listen to all the parties and build solutions that support homeowners and incorporate the unique needs of all stakeholders. As a result, HLP unifies the housing industry by helping individuals and families achieve and sustain homeownership. Stakeholders share information with each other via our technology platform and collaborate to find solutions to help homeowners. To date, we have helped more than 400,000 homeowners during their time of need.
Media Contact: Scott Scredon, firstname.lastname@example.org, 770-315-0745