Ditech Finacial, which formed last year when Walter Investment Management Corp. merged two of its subsidiaries, Green Tree Servicing and Ditech Mortgage Corp, to form a new company, is partnering with HLP to use HLP’s web portal in its foreclosure prevention and loss mitigation efforts.
HLP, which is formerly known as Hope LoanPort, is a nonprofit based in Baltimore.
According to documentation from the company, 19 of the 20 largest mortgage servicers use its technology to review requests for loan modifications.
And Ditech is now part of that list.
According to a release from HLP, Ditech will use its portal as its preferred channel for the submission, review and disposition of loss mitigation documents and data from consumers’ authorized third parties.
“Utilizing HLP’s collaborative web-based communication platform as the primary communication channel between our mortgage servicing operations and HUD-approved nonprofit housing counselors is another step in applying best practices to a critical stage and an important stakeholder in the loss mitigation process,” Kelly O’Bannon, Ditech’s senior vice president, loss mitigation, property preservation and real estate owned, said.
“We are thrilled to become a part of Ditech’s efforts to improve the experience of distressed homeowners seeking foreclosure alternatives with the help of HUD-approved nonprofit housing counselors,” said Cam Melchiorre, HLP’s chief executive officer. “Ditech’s strategy to embrace this important segment of housing advocacy speaks to the growing significance of housing counselors in helping consumers obtain and retain homeownership.”