Home / News / Foreclosure / HOPE LoanPort Tops 3,000 Registered Counselor Users
Print This Post Print This Post

HOPE LoanPort Tops 3,000 Registered Counselor Users

""HOPE LoanPort"":http://www.hopeloanportal.org announced that the organization has now registered over 3,000 HUD-certified, nonprofit housing counselors in a little over a year of full operation.
[IMAGE] HOPE LoanPort is a proprietary, web-based tool used by nonprofit housing counselors, housing finance agencies, investors, and major mortgage servicers to streamline the process of submitting home retention applications on behalf of borrowers at-risk of foreclosure.

Counselors from more than 630 organizations in all 50 states, the District of Columbia, and Puerto Rico are now using the system to assist struggling homeowners. Additionally, the tool connects to more than 800 users from fourteen of the largest mortgage servicers in the country.

Larry Gilmore, HOPE LoanPort president and CEO, commented, ""We've come a long way since starting with


just six nonprofits and six mortgage servicers in the pilot stage. HOPE LoanPort continues to add dozens of new counselors to the roster each week as more organizations realize the value of web-based solutions for at-risk homeowners.""

HOPE LoanPort, along with its technology partner IndiSoft, is also upgrading its technology to comply with the ""Federal Housing Finance Agency's"":http://www.fhfa.gov (FHFA) new guidelines governing loans owned or guaranteed by ""Fannie Mae"":http://www.fanniemae.com and ""Freddie Mac"":http://www.freddiemac.com.

The new rules for managing Fannie Mae and Freddie Mac loans take effect October 1st, and are designed to improve borrower contact, standardize foreclosure timelines, and improve performance management via finance incentives to mortgage servicers who deliver timely and complete home retention packages.

""We are looking forward to the new FHFA guidelines taking effect later this year and we believe that HOPE LoanPort is uniquely positioned to handle this new initiative and simplify the home retention application process for homeowners, counselors, servicers, and investors,"" Gilmore said. ""We remain committed to offering the best solution for stabilizing communities and assisting families with their greatest asset â€" their home.""

HOPE LoanPort is powered by ""IndiSoft's"":http://www.indisoft.us/ RXOffice and was developed by ""HOPE NOW"":http://www.hopenow.com, the Washington, D.C.-based, industry-created alliance of mortgage servicers, investors, counselors, and other mortgage market participants.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

Check Also


Mortgage Debt Increases in Q4

According to a study from the New York Fed, as mortgage debt has increased, delinquencies have not.


Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.