HOPE LoanPort, a Web-based housing counselor tool that streamlines submission of completed loan modification applications, has announced that Citi, one of the nation’s largest mortgage servicers, has agreed to use its proprietary technology for assisting homeowners with loan modifications. Citi becomes the 10th mortgage servicer to sign onto HOPE LoanPort. The company joins other servicer members American Home Mortgage Servicing Inc., Bayview Loan Servicing, Chase, GMAC, Ocwen Loan Servicing, OneWest, PNC Mortgage, Saxon Mortgage Services and SunTrust Mortgage Inc. HOPE LoanPort also has commitments from more than 250 counseling offices across the country and is endorsed by House Majority Leader, Congressman Steny Hoyer (MD) and the Maryland Department of Housing and Community Development.
“Citi was an early supporter of the HOPE Now Alliance and the Administration’s Making Home Affordable programs and has continued to develop and implement additional assistance programs to help struggling homeowners. We look forward to participating in the HOPE LoanPort initiative, which will arm us with another important strategic tool to help distressed borrowers,” said Sanjiv Das, president and chief executive officer of CitiMortgage Inc.
“We continue to gain incredible momentum in onboarding mortgage servicers and clearly these companies are recognizing the vast potential of our product," said Larry Gilmore, chief executive officer of HOPE LoanPort. "We now have several major servicers on board who handle the majority of loans in the country. I have personally worked with Citi’s team for several years on various projects and I am thrilled that they are now committed to assisting borrowers via HOPE LoanPort.”
HOPE LoanPort, developed by the HOPE NOW Alliance, is a Web-based tool that streamlines loan modification applications on behalf of borrowers at-risk of foreclosure, allowing housing counselors to efficiently transmit completed applications to mortgage servicers. HOPE LoanPort is designed to improve the quality of both the application itself and the ability of servicers to make decisions on that application.
For more information, visit www.hopenow.com.