HOPE LoanPort, the Web-based housing counselor tool that streamlines submission of completed loan modification applications, has announced that Wells Fargo, one of the nation's largest mortgage servicers, has agreed to use its proprietary technology to partner with non-profit housing counselors to assist homeowners with loan modifications.
Wells Fargo becomes the 13th major mortgage servicer to sign onto HOPE LoanPort. The company joins other servicer members American Home Mortgage Servicing Inc., Bank of America, Bayview Loan Servicing, Chase, Citi, GMAC, MetLife, Ocwen Loan Servicing, OneWest Bank, PNC Mortgage, Saxon Mortgage Services and SunTrust Mortgage Inc.
HOPE LoanPort also has commitments from more than 1,600 housing counselors from almost 300 organizations across the country. The Web portal is endorsed by House Majority Leader, Congressman Steny Hoyer, and is supported by state housing finance agencies in Arizona, Maryland, Nevada and Ohio.
"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, executive vice president of loan servicing at Wells Fargo Home Mortgage. "We look forward to adding HOPE LoanPort's Web-based loan modification platform to our existing array of proprietary tools. Web-based platforms strengthen our ability to work with counseling organizations across the country to deliver timely decisions and improved communications with our customers."
"We continue to add mortgage servicers and non-profit 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," said Larry Gilmore, chief executive officer of HOPE LoanPort. "HOPE LoanPort remains committed to adding more servicers and we truly believe that we have developed the best solution in the loan modification space for seamless and effective collaboration among homeowners, housing counselors and mortgage servicers."
For more information, visit www.hopeloanportal.org.
