HOPE LoanPort™ in North Carolina
HOPE LoanPort™ Mission Statement
HOPE LoanPort™ is an independent non profit which serves as a neutral, web based industry utility to improve residential mortgage loss mitigation execution. web-based tool that streamlines loan modification applications on behalf of homeowners at-risk of foreclosure, allowing housing counselors to efficiently transmit completed applications to mortgage companies. HOPE LoanPort™ is designed to improve the quality of both the application itself and the ability of servicers to make decisions on that application.
• Secure electronic submission of completed modification applications.
• Standardization of required application data elements and supporting documents.
• Electronic verification that the servicer has received the fully completed modification package.
• Messaging of application statuses between counselor and servicer.
• Migration away from faxes, redundant telephone calls, and lost documents.
• A homeowner contacts a participating US Department of Housing & Urban Development (HUD) approved non-profit counselor in the HOPE LoanPort™ network.
• Counselor gathers all information and documentation from homeowner and completes application through HOPE LoanPort™.
• Complete application is sent electronically to the homeowner’s mortgage servicer. This ensures that documents and information cannot be lost.
• Applications are updated with current status every 10 days through HOPE LoanPort™.
As of October 31, 2010
• Over 330 counseling agencies are using HOPE LoanPort™ to submit borrower modification applications.
• Over 1,700 counselors currently have the ability to submit applications today.
• 4 State housing finance agencies are signed on to HOPE LoanPort™, with others in the process of joining.
• 14 Mortgage Servicing Companies are participating in HOPE LoanPort™.
• Over 6,600 modification applications have been initiated for mortgage servicers on behalf of distressed borrowers, of which, over 3,800 full applications have been submitted to participating servicers.
North Carolina: Please help take action by giving your constituency the contact information for the counselor nearest to them. A list of counselors that are currently operating with HOPE LoanPort™ in North Carolina include: