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HOPE NOW Applauded for Rolling Out Project Lifeline

The HOPE NOW Alliance—a national network of mortgage servicers, nonprofits and housing counseling agencies—received praise from U.S. Treasury Secretary Henry Paulson, Jr., today for their quick implementation of Project Lifeline. Project Lifeline was rolled out by the Treasury’s office and six leading mortgage servicers more than a week ago to increase the number of mortgage holders eligible for certain home retention aids.
""I am impressed with the HOPE NOW Alliance's swift adoption of Project Lifeline. Just last week we saw six servicers take the lead and agree to this initiative. Now that all HOPE NOW members have signed on, more than 90-percent of the subprime servicing market and nearly 70-percent of the entire mortgage servicing market is committed to this coordinated method of reaching more homeowners,"" Paulson said. ""Project Lifeline is one more means of helping homeowners, and combined with the other parts of HOPE NOW's outreach, these initiatives can make a measurable difference. I look forward to seeing reports of the impact of these commitments.""

About Author: Kerri Panchuk


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