Preserving Home Ownership

*Partnership Looks To Preserve Home Ownership*
**Hope LoanPort Makes News**

***Hope LoanPort (HLP), the national, non-profit, Web-based mortgage solution tool used for streamlining loss mitigation applications, has partnered with GMAC Mortgage to launch Homeowner Connect (homeownerconnect.org). As a consumer direct Web portal, Homeowner Connect will standardize the entire communication life-cycle of loss mitigation activities between mortgage servicers and borrowers. Homeowners, who may be struggling with their mortgage, will have the ability to connect with valuable free resources, such as information on options via government and industry programs – all in one place and from any computer with internet access.

****GMAC Mortgage sponsored this effort and will proactively notify its borrowers at-risk of foreclosure about the availability of this option. Additionally, GMAC Mortgage customers will be able to securely apply for foreclosure alternatives, through Homeowner Connect, directly online. They will have the ability to submit their application, track their status, and upload all required documents.

****HLP will also partner with MortgageKeeper Referral Services, a Web-based database application containing over 6,000 non-profit and government agencies in 20 different service categories. MortgageKeeper’s application will help homeowners using HLP to access local solutions for their unique situations—potentially enhancing their qualification for a foreclosure alternative.

****“GMAC Mortgage has been a pioneer in the industry and a great partner since the creation of Hope LoanPort. A great deal of insight was provided by GMAC’s team in the creation of this free, user-friendly utility. We expect Homeowner Connect to be a real game changer in the industry as a powerful tool in assisting homeowners facing foreclosure,” said Cam Melchiorre, President and CEO of Hope LoanPort.

****“GMAC Mortgage is committed to preserving home ownership whenever possible,” said Dana Dillard, Senior Vice President, GMAC Mortgage. “In that spirit, we’re proud to support this initiative with Hope LoanPort to provide useful tools and education to borrowers.”

****Homeowner Connect was created in response to the National Mortgage Settlement, which called for a consumer-centric web portal. Additionally, Homeowner Connect aligns with requirements found in the OCC Consent Orders, the joint-GSE Servicing Alignment Initiative, as well as many new state policies symbolized by the recent passage of the California Borrowers’ Bill of Rights. With this broad based industry appeal, HLP is actively working with other mortgage servicers to participate in Homeowner Connect after the initial roll out to GMAC customers. Participation is open to both servicers already using the HLP Housing Counselor Portal, and new participants with HLP.

****The Web design and development for Homeowner Connect is through IndiSoft, the developer of RxOffice, a technology development company for default servicing in the financial services industry.

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