Skip to main content

HOPE LoanPort Continues Its Quest for Foreclosure Prevention

Aug 26, 2011

HOPE LoanPort has announced that it has now registered more than 3,000 U.S. Department of Housing & Urban Development (HUD)-certified, non-profit housing counselors in a little over a year of full operation. HOPE LoanPort currently has 3,020 counselors from more than 630 organizations in all 50 states, the District of Columbia and Puerto Rico working directly with struggling homeowners. Additionally, the tool connects to more than 800 users from 14 of the largest mortgage servicers in the country. HOPE LoanPort, and its technology partner IndiSoft, is also upgrading its technology to comply with the new Federal Housing Finance Agency (FHFA) guidelines governing loans owned or guaranteed by the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. The guidelines for Fannie Mae and Freddie Mac loans, effective Oct. 1, 2011, are designed to improve borrower contact, standardize foreclosure timelines and improve performance management via finance incentives to mortgage servicers who deliver timely and complete home retention packages. "We’ve come a long way since starting with just six non-profits and six mortgage servicers in the pilot stage. Furthermore, we continue to evolve our tool as market conditions change so that homeowners have the most efficient means for communicating with mortgage servicers," said Larry Gilmore, HOPE LoanPort president and chief executive officer. "We are looking forward to the new FHFA guidelines taking effect later this year and we believe that HOPE LoanPort is uniquely positioned to handle this new initiative and simplify the home retention application process for homeowners, counselors, servicers and investors."
About the author
Published
Aug 26, 2011
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024