HOPE LoanPort, the Web-based housing counselor tool that streamlines submission of completed loan modification applications, has announced that Bayview Loan Servicing LLC and Ocwen Loan Servicing LLC have agreed to use its proprietary technology. The signing of Bayview and Ocwen moves HOPE LoanPort closer to its goal of having more than a dozen mortgage servicers using the Web portal by the end of 2010. The two companies join charter members American Home Mortgage Servicing Inc., Chase, GMAC, PNC Mortgage, Saxon Mortgage Services and SunTrust Mortgage Inc. The portal also has commitments from more than 100 counseling organizations across the country.
“We are convinced that HOPE LoanPort provides customers with user-friendly technology available for transmission of crucial mortgage documents and we believe that this tool will allow Bayview to handle a higher volume of applications with maximum efficiency and accuracy,“ said Bob Repass, senior vice president.
Jamie Holland, community relations manager of Ocwen, said, “We have been a member of HOPE NOW since the beginning and have been very active in borrower outreach. With the introduction of HOPE LoanPort into our arsenal, we will have another way to communicate with borrowers and counselors in order to reach decisions on loan modification documents.”
“I have personally worked with both companies for several years and I am happy that they have given HOPE LoanPort their support," said Larry Gilmore, chief executive officer of HOPE LoanPort. "We truly believe that HOPE LoanPort is the next generation of effective loan modification solutions. We hope that other mortgage servicers follow the example of Bayview, Ocwen and the six other member servicers in adopting the HOPE LoanPorttechnology to further their loan workout solution efforts.”
For more information, visit www.hopenow.com.