HOPE LoanPort, the proprietary, Web-based tool used by non-profit housing counselors, housing finance agencies, investors and major mortgage servicers, has announced that it has completed its first full year of operation. The non-profit organization recently added The Village Family Service Center of Fargo, North Dakota to its roster. The addition of this counseling agency now gives HOPE LoanPort coverage in all 50 states, the District of Columbia and Puerto Rico.
HOPE LoanPort allows housing counselors to submit a full application, including the upload of all homeowner documents, for home retention in a safe and secure environment. The tool also allows for enhanced client tracking via real-time status updates from mortgage servicers, and allows for decisions on completed applications in approximately 30-60 days. HOPE LoanPort is free for use by all U.S. Department of Housing & Urban Development (HUD) certified and National Foreclosure Mitigation Counseling (NFMC) program counselors. HOPE LoanPort also provides select strategic partners with a direct-to-borrower portal, which affords at-risk homeowners the ability to directly submit an application for assistance.
HOPE LoanPort is currently used by more than 2,700 non-profit housing counselors from more than 600 organizations. Additionally, these counselors are connected to more than 800 users on the mortgage servicing side, representing companies that currently service approximately 80% of all mortgages in the United States.
"We completed our pilot phase in June of last year, and since then we have grown from six original counseling partners to more than 600 organizations nationwide, who are using our tool on a daily basis to assist homeowners," said Larry Gilmore, President and chief executive officer of HOPE LoanPort. "Additionally, we are partnered with 15 major mortgage servicers, several state housing finance agencies and other mortgage market participants all with the common goal of keeping homeowners in their homes. I am proud of what we have accomplished in a short time and HOPE LoanPort will continue to work with its partners and provide the best solutions for families attempting to preserve their biggest asset - their home."