U.S. Bank Chooses HLP for Wide Range of Loss Mitigation Cases.
Company Seeks to Improve Efficiency, Enhance Ability to Meet Compliance Needs

BALTIMORE, May 31, 2016 In one of the broadest deployments of HLP’s technology platform to date, US Bank has agreed to use HLP throughout its loss mitigation operations nationwide, enabling it to streamline communications and document exchange for homeowners and HUD-certified nonprofit housing counselors that represent them.

With the US Bank agreement, HLP now provides its technology to 19 of the nation’s 20 largest mortgage servicers. US Bank Home Mortgage, the company’s mortgage unit, is one of the largest servicers of home loans in the United States, servicing approximately $300 billion of mortgages.

HLP will be the preferred channel for the nation’s fifth largest bank for the submission, review and disposition of foreclosure alternative packages, including documents and communications for the various state foreclosure mediation processes. In, addition, US Bank will give consumers the option of submitting documents and communicating via HLP’s national consumer-direct portal, Homeownerconnect.

“We are pleased to participate in the HLP collaborative platform as we continue to improve the experience of consumers and their authorized representatives seeking foreclosure relief, particularly the thousands of HUD-certified nonprofit counselors already using HLP to interact with the mortgage servicing industry,” said Scott Rodeman, senior vice president of Mortgage Servicing Default Operations at US Bank.

HLP, formerly known as Hope LoanPort, is a nonprofit based in Baltimore that provides a unique technology platform for the housing industry. Founded in 2009, consumers and nonprofit housing counselors submit electronic applications for loan modifications and all supporting documents – such as bank statements and tax returns – through HLP. Once the mortgage company has accepted the application, the consumer and nonprofit housing counselor can track the application’s progress through HLP.

“The mortgage foreclosure crisis established HLP as a national communication utility for communications and document exchange in the loss mitigation process,” said Cam Melchiorre, HLP’s chief executive officer. “Yet, despite a normalizing market and major improvements in default frequency and severity, its attributes of supporting transparency, accessibility, efficiency, security, traceability, inclusiveness and regulatory compliance resonate with all constituents in the residential mortgage finance industry.”

Media Contact: Scott Scredon, scott.scredon82@gmail.com, 770-315-0745