Home Means Nevada, Inc. (HMN), a state-affiliated nonprofit organization that administers certain functions of the Foreclosure Mediation Program, formally launched its COVID-19 response initiative, a multi-agency effort to promote home retention for Nevadans. The Initiative will build on HMN’s work over the past several years in promoting home retention through its Foreclosure Mediation Portal by adding the functionality of The Homeowner Connect (THOC) to the portal.
THOC offers enhanced features for Nevada homeowners on the steps that can occur prior to the Foreclosure Mediation Program, notably the COVID-19 forbearance and other federal relief programs. It provides information to homeowners from experienced staff, such as housing counselors and regulators, who gained experience during the last mortgage crisis. Nevada consumers will be able to upload required data and documents in pursuit of appropriate foreclosure alternatives, and mortgage servicers will have bi-directional communication and document exchange capabilities with them.
“We are pleased to have the opportunity to make THOC available for all Nevadans and appreciate the cooperation of the mortgage servicing community as we further our efforts to promote home retention in our state,” said HMN President Shannon Chambers.
HMN has partnered with IndiSoft, LLC, the provider of THOC, to implement the portal enhancements and to facilitate the registration of mortgage servicers in the portal and deployment of additional features to promote greater efficiencies for all users, including consumers, housing counselors, regulators and servicers.
“This is an exciting opportunity for IndiSoft to help Nevada respond to the devasting economic effects of COVID-19 by providing an intuitive web portal interface and robust home retention tools, making it easier for consumers to seek relief under the various COVID-19 response programs. THOC will also provide assistance for downstream workouts for the affected borrowers that need help, and it will facilitate the implementation of any crisis-related, direct-to-consumer subsidy programs for renters, homeowners, and small businesses within the State of Nevada,” said Cam Melchiorre, president of IndiSoft.