""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[COLUMN_BREAK]
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 Ã¢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.