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Wells Fargo Joins HOPE LoanPort to Streamline Loan Mod Submissions

""Wells Fargo"":http://www.wellsfargo.com, one of the nation's largest mortgage servicers, has agreed to use HOPE LoanPort's proprietary technology to partner with nonprofit housing counselors to assist homeowners with loan modifications.


""HOPE LoanPort"":http://www.hopeloanportal.org is a Web-based tool developed by the ""HOPE NOW Alliance"":http://www.hopenow.com and powered by ""Indisoft's RxOffice"":http://rxoffice.co.in/. It allows borrowers at risk of foreclosure and their housing counselors to streamline the submission of loan modification applications to mortgage servicers.

""Part of our commitment to assisting troubled borrowers includes continuously looking for ways to enhance and improve their experience working with us,"" said Mary Coffin, EVP for loan servicing at Wells Fargo Home Mortgage. ""Web-based platforms strengthen our ability to work with counseling organizations across the country to


deliver timely decisions and improved communications with our customers.""

California-based Wells Fargo is the 13th major servicer to sign onto HOPE LoanPort. Others employing the technology tool include: American Home Mortgage Servicing, Bank of America, Bayview Loan Servicing, Chase, Citi, GMAC, MetLife, Ocwen Loan Servicing, OneWest Bank, PNC Mortgage, Saxon Mortgage Services, and SunTrust Mortgage.

HOPE LoanPort also has commitments from more than 1,600 housing counselors from almost 300 organizations across the country, and is supported by state housing finance agencies in Arizona, Maryland, Nevada, and Ohio.

Larry Gilmore, CEO of HOPE LoanPort, stated, ""We continue to add mortgage servicers and nonprofit housing counselors at a rapid pace. With Wells Fargo on board, HOPE LoanPort now has the nation's three largest mortgage servicers committed to accepting loan modification applications through the Web portal and we believe we will see a dramatic increase in cases submitted going forward.""

Gilmore says that he and his organization remain committed to adding more servicers to the HOPE LoanPort roster to ensure seamless and effective collaboration among homeowners, housing counselors, and mortgage servicers as they work through the loan modification process.

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.

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