The Psychology Behind the Recovery

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34 | Th e M Rep o RT Special Advertorial Section ComplianCe Company Guide COMPANY DESCRIPTION Hope LoanPort (HLP) is a neutral, national, and 501(c)(3) nonprofit utility providing technology-based solutions that facilitate transparency, accessibility, consistency of treatment, and a superior experi- ence to consumers and their advocates in pursuit of foreclosure alternatives and affordable home loans in underserved markets. COMPANY HISTORY HLP evolved out of the HOPE NOW technology committee's goal of establishing a more robust communication strategy to better serve homeown- ers at risk of foreclosure. Established in 2009, HLP provided a user-friendly Web portal for nonprofit housing counselors representing borrowers applying for a foreclosure alternative to complete an online application to be submitted to their servicer. REGULATORY COMPLIANCE HLP's technology provides a platform between counselors and servicers for the exchange of data, documents, and case communications. In 2012 HLP was chosen as a model Web-based portal in the landmark National Mortgage Settlement, in which the five largest mortgages servicers are required to use portals "such as Hope LoanPort." HLP was the preferred platform for processing applications for HUD's Emergency Homeowner's Loan Program (EHLP), and in 2013 was named in the Treasury's Supplemental Directive 13-01 as the communication platform to facilitate the MHA Borrower Outreach and Intake Project. Proper use of HLP also facilitates compliance with servicer requirements through its functionality; tracking turn times, status updates, and time- stamped records of all case activities and communications. As an example, the Office of Mortgage Settlement Oversight published servicing findings in 2013 that reported testing fails to NMS servicing rules including those related to loan modification timeline compliance for document collection (Metric #19) and decision/notification (Metric #20). These items are transparently tracked within HLP. HLP also facilitates servicing transfers by provid- ing a platform for all parties to continue assisting homeowners in a seamless, transparent manner consistent with the CFPB Bulletin 2013-01: Mortgage Servicing Transfers (2/11/2013). BUSINESS LINES, SERVICES, AND PRODUCTS Hope LoanPort's primary line of business is the web-based portal providing multi-party processing on a centralized system for all stakeholders to a foreclosure alternative application. HLP's Homeowner Connect allows homeowners looking to self-engage in a workout solution to do so directly with their servicer through a neutral platform. KEY FEATURES/BENEFITS • Foreclosure alternative portal: facilitates compli- ance with industry guidelines and regulations • Free for HUD-approved nonprofit counselors, legal aid representatives, and homeowners COMPETITIVE ADVANTAGE HLP has no competitor strictly providing a neu- tral, nonprofit technology to the servicing industry dedicated to assisting struggling homeowners. The organization's greatest asset is its willingness to be collaborative with its partners and stakeholders in achieving a viable technology solutions. Hope LoanPort has a natural alignment with nonprofit advocates and also has more than 1,400 nationwide registered counseling agencies. HLP's leadership has extensive mortgage industry experience and has adapted its technology to servicing's operational and regulatory needs. Just as importantly, it has a close working relationship with IndiSoft, HLP's technology provider, and works closely with them on system developments and enhancements. ADDED VALUE TO CLIENTS The hub-and-spoke business model provides quick onboarding for all new registrants and access to all other users of the portal. HLP provides a robust training platform to aid new users learning to use the portal. KEYS TO SUCCESS Reflecting its nonprofit mission, as a technology the organization is dedicated solely to the foreclosure alternative industry. The organization is able to adapt quickly to new regulatory guidelines and swiftly implement them into its platform. Hope LoanPort collaborates with other companies to ensure that it continues to fill needs within the industry.This con- tinues in 2014 with initiatives to include foreclosure mediation processing, post-modification counseling as required through MHA Supplemental Directive 13-08, and the development of a National Registry for third-party advocates. INDUSTRY AwARDS, ACCOLADES, AND MILESTONES HLP was named a 2013 ComputerWorld Honors Laureate along with its technology provider, IndiSoft, in the category of Economic Development, which recognizes technology projects that influence busi- ness. It was also named with IndiSoft as a finalist for the 2013 Mortgage Technology Awards in the category of Synergy. key personnel Camillo Melchiorre CEO and President Mark Cole Executive Vice President & Chief Strategy Officer Nick Figlo SVP of Solutions Design and Analytics Samantha Friedman SVP of Product Development and Client Services Brian DiMarco Director, Industry Communications staffing 12 employees contact information 100 International Drive, 23rd Floor Baltimore, Maryland 21202 Phone: 410.942.6464 Email: web: Hope LoanPort

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