Several nonprofit housing counselor groups, including Neighborhood Housing Services (NHS) of Greater Cleveland, NHS of New York, NHS of Chicago, Cabrillo Economic Development Corp. and HomeFree-USA, have confirmed that some of their customers have received permanent Home Affordable Modification Program (HAMP) loan modifications via the use of the HOPE LoanPort Web portal.
The portal, developed by IndiSoft in conjunction with the HOPE NOW Alliance, allows housing counselors to submit borrowers' loan modification packages directly to servicers. While HOPE LoanPort is applicable to most types of loan modifications offered by mortgage servicers, those offered by HAMP have been the primary focus.
"As huge advocates of the nonprofit housing community, HOPE LoanPort and its partners remain committed to sustaining homeownership during National Homeownership Month by working together to leverage the automation provided by the Web portal," says Larry Gilmore, president and CEO of HOPE LoanPort.
Currently, more than 200 counseling agencies across the country are using the portal for loan modification application submissions.
In addition, 11 mortgage servicers - American Home Mortgage Servicing Inc., Bank of America, Bayview Loan Servicing, Chase, Citi, GMAC, Ocwen Loan Servicing, OneWest, PNC Mortgage, Saxon Mortgage Services and SunTrust Mortgage Inc. - are using the portal in conjunction with the counseling community.
